Move funds between an FHSA and another investment account at Wealthsimple

You can transfer funds between an FHSA and certain other investment accounts with Wealthsimple.

Tip: Keep in mind that there may be certain implications when moving funds between investment accounts.

Read below to learn about the different possible transfers you can make between an FHSA and another investment account.

Tip: If you’re looking to move money from an investment account you hold outside of Wealthsimple, refer to this article instead.

Refer to the chart below to learn about moving funds to an FHSA from another investment account:

From (account type)	To (account type)	Supported?	Things to consider
RRSP	FHSA	Yes, in-cash managed and DIY transfers supported. Contact support to make this transfer. These transfers may take longer to be processed because we're still in the beta stage.	There is no tax benefit for making this kind of transfer. Please note that you will be required to complete an RC720 form via DocuSign as part of the internal transfer process.
TFSA	FHSA	Yes, in-cash managed and DIY transfers supported	You may claim these contributions as a deduction on your income tax.
Non-registered or Crypto	FHSA	Yes, in-cash managed and DIY transfers supported	You may claim these contributions as a deduction on your income tax.
Cash or Save	FHSA	Yes	You may claim these contributions as a deduction on your income tax.
Spousal RRSP, RRIF, RESP, LIRA, LIF, Corporate account, Joint account	FHSA	No	N/A

Refer to the chart below to learn about moving funds from an FHSA to another investment account:

From (account type)	To (account type)	Supported?	Things to consider
FHSA	FHSA	Yes	There is no tax benefit for making this kind of transfer.
FHSA	TFSA	No	N/A
FHSA	RRSP, RRIF	Yes These transfers may take longer to be processed because we're still in the beta stage.	There is no tax benefit for making this kind of transfer. Contact support to make transfers from one FHSA to another RRSP or RRIF. You will be required to complete an RC721 form via DocuSign as part of the internal transfer process.
FHSA	Non-registered or Crypto	No	N/A
FHSA	Spousal RRSP, RESP, LIRA, LIF, Corporate account, Joint account	No	N/A

Set up an internal transfer

Wealthsimple only supports in-cash internal transfers at this time.

For managed account transfers, we’ll liquidate your holdings for you after you submit your transfer request. These transfers typically take 5-7 business days to complete.
For DIY trading account transfers, you’ll need to sell your securities and let your funds settle for 2 business days before you submit your transfer request. After your funds are in your Available to withdraw balance, transfers typically take 1-3 business days to complete.

Once you’re ready to move money between an FHSA and another investment account, follow the steps below: