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withdraw RRSP whild on Consumer Proposal

I would like to know if I can withdraw my group RRSP to pay my consumers proposal fee?

Posted from: Ontario

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One Response to “withdraw RRSP whild on Consumer Proposal”

Barton Goth – Goth & Company Inc. -Trustee in Bankruptcy said...

Technically yes you can do this. But make sure you discuss it with your trustee before doing so. The other consideration is that if you withdraw funds from the RRSP there will likely be some tax owing at the end of the year, so you may want to keep a little of the money back so that you can pay your tax bill.