Update on Holding U.S. in D.I. RRSPs

I think I’ve been on the phone with Direct Investing more times in the past 6 months than I had been in the 10 years prior.

I was talking to them again last night about something, and thought I would ask about the transition that is supposed to be happening “this spring” regarding holding U.S. dollars and assets in RRSPs.

The rep said that the option is set to be activated as of May 15th, and fully integrated by the end of May at the latest. The interface will look the same as the non-registered Direct Investing site, with the page divided into Canadian and U.S. Assets.

This is good news. But it won’t be automatic.

If you currently hold U.S. stocks in your account, you will have to call after the option is enabled and have your stocks journalled over to (or back to, in reality) U.S. currency. Regarding this, I asked if there will be a fee or charge related to the journalling.

He checked and specifically said there would be no cost related to the transfer, nor the conversion.

Hopefully he is right.

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One response to “Update on Holding U.S. in D.I. RRSPs

  1. Pingback: RBC Direct Investing RRSP Update « In Search of Salt

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