rrsp withdrawal

August 26th, 2011 by Questions

I have funds in a self directed rrsp and
need to withdraw a small amount to live on prior to considering bankruptcy. Is there any problems with this?

Posted from: Alberta

Questions

One Response to “rrsp withdrawal”


August 26, 2011 at 3:47 pm, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:

There shouldn’t be any problem with you doing this as long as the monies are used for living expenses. My recommendation would be that you keep receipts for any of the items you spend these withdrawals on. The reason for this is if your creditors ever try to suggest you did something inappropriate with these funds you can very easily refute it.

Please post a follow up comment below:

(Note: comments are reviewed by moderators and then posted after approval. In addition, due to high volume some of the comments might not be posted.)