What makes an investment rrsp eligible

If you are a Quebec resident, you cannot name a beneficiary directly on any registered account but you can set this up in your will. You can choose to hold everything from stocks, exchange traded funds ETFs , options and mutual funds to fixed-income investments like bonds and GICs, and more, as long as they are qualified investments.

These let you borrow from your RRSP and pay it back over time without any penalty. Complete your application online in just minutes and your account can be opened within 24 hours 2. Search RBC. Personal Banking. Contact Us Location. Invest Now for the Retirement You Want Want to invest and save for your future retirement in a tax-smart way?

Open an Account Ready to Invest? Complete your application online and your account can be opened within 24 hours! What is an RRSP? The Benefits of Opening an RRSP Save for retirement and reduce your tax bill today Grow your investments on a tax-deferred basis until you need them for retirement Access a wide range of investments that match your investment objectives, risk tolerance and timeline.

Your Registered Retirement Savings Plan RRSP can be built using different types of qualified investments, such as stocks, bonds, options, mutual funds, exchange-traded funds ETFs , savings deposits, treasury bills and guaranteed investment certificates GICs.

Generally, if a security trades on at least one exchange that Canada's Finance Department considers a Designated Stock Exchange, it will be recognized as a qualified investment. Holding non-qualified investments can have tax consequences and may result in penalties levied by the CRA.

Understanding RRSPs. Investors are responsible for their own investment decisions. Used under licence. All rights reserved. Non-qualified and prohibited investments are tax differently. Recommended portfolios for registered or non-registered accounts.

Revised: October 15, All Rights Reserved. See Reproduction of information from TaxTips. Each person's situation differs, and a professional advisor can assist you in using the information on this web site to your best advantage.

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Foreign currencies are qualified investments, subject to certain limitations. Prior to March 31, , foreign currency cash balances were not allowed under the bylaws and regulations of the Investment Dealers Association IDA of Canada. Most brokerages now provide the option of holding foreign currencies in registered accounts.