Can I rollover tax free from my RRSP to my child’s RRSP?
You can’t transfer money from your Registered Retirement Savings Plan (RRSP) to the RRSP of someone else including, transfers to a spousal RRSP, or that of your children. Doing so can have tax consequences.
There is not a minimum age requirement to open an RRSP, provided that the account holder has earned income, a valid social insurance number and has filed tax returns to start building contribution room. It may be possible, to gift cash to your child to contribute to an RRSP, provided that there is sufficient contribution room.
We are not able to provide advice, but we try to provide general information to help you take the next step. Speak to a registered financial advisor or tax professional for advice on available options.
Learn more about RRSPs and by visiting GetSmarterAboutMoney.ca.