RRSP

How many types of RRSP Plans are there?

• 1

• 2

• 3

• 4

Name the different types of RRSP Plans

• Individual, Spousal

• Individual, Locked in

• Home Buyer's Plan, Lifelong Learning Plan

• Individual, Spousal, Locked in

What information can the contributor access?

• Spousal plan account number

• contribution date

• contribution amount

• Withdrawal Receipt

At what age do clients become ineligible to open an RRSP product?

• Over the age of 72

• Over the age of 71

• Over the age of 70

• Over the age of 61

What receipt is issued for RRSP withdrawals?

• T2033

• T5RSP

• T4RSP

• T2151

What are two RRSP withdrawals that are not taxed?

• Marriage breakdown

• Shortened life expectancy

• Home Buyer's Plan & Lifelong Learning

• Small amounts provision

T5s are issued for RRSP Accounts

• True

• False

We can open joint RRSP accounts

• True

• False

When opening a Spousal RRSP, both the Plan holder and Contributor should be validated

• True

• False

• No Validation required, It's a trick question!!

The Spousal RRSP should be opened on the Contributor's CIF

• True

• False

• Does it really matter?