Follow the instructions below to transfer funds following a marriage or common-law partnership breakdown. If eligible, you (the annuitant) can also request to remove the spousal contributor from your spousal RRSP/RRIF.

Fill out Form T2220 to transfer funds

You (the annuitant) can request to transfer funds from your spousal RRSP/RRIF or individual RRSP/RRIF to the individual RRSP/RRIF of your current or former spouse or common-law partner. The ownership of the funds/assets will change to the account owner you're transferring them to.

To transfer funds, you (the annuitant) must:

1. Complete Form T2220, signed by both the annuitant and the current or former spouse or common-law partner. 
2. Send the completed Form T2220 to our support team. 

Remove the spousal contributor

You (the annuitant) can ask to remove the spousal contributor from your spousal RRSP/RRIF. At Wealthsimple, this is done by transferring funds/assets to an individual RRSP under the same annuitant.

To do this, you must meet all of the conditions below:

Conditions to remove a spousal contributor from a spousal RRSP/RRIF

1. Proof of Separation

   The annuitant and contributor must be living apart at the time of the request because their marriage or common-law partnership has broken down, and the issuer or carrier must be satisfied with the proof of the breakdown.

   The issuer or carrier should ask for a written statement, signed and dated by the annuitant. In the case of an RRSP, the annuitant should state that he or she is no longer living with the person who is identified as the contributor because of the breakdown. In the case of a RRIF, the annuitant should state that he or she is no longer living with the person identified as the contributor to any RRSP from which transfers were made to the RRIF in question because of the breakdown of their relationship.

   If documentary evidence of the breakdown exists (for example, a separation agreement or divorce decree), the issuer or carrier may also ask for a copy of the document.

2. No Contributions

   There must be no spousal or common-law partner contributions to any of the annuitant's RRSPs (i.e., RRSPs held with any issuer) for the year of the request and the two previous years.

   The annuitant's written statement should certify that the spouse, common-law partner, former spouse, or former common-law partner did not contribute to any of the annuitant's RRSPs in the calendar year of the request nor in the two immediately preceding calendar years.

3. No withdrawals

   There must be no withdrawals from the spousal or common-law partner RRSP during the year of the request. In the case of a RRIF, no more than the minimum amount must be withdrawn.

   The annuitant's written statement should certify that he or she did not make any withdrawals from the RRSP in the year of the request, or that he or she withdrew no more than the minimum amount from the RRIF.

Submit the online Letter of Direction form to remove the spousal contributor

To remove the spouse from the account, you must fill out our online Letter of Direction form.

Then, we’ll transfer your funds/assets from the spousal RRSP/RRIF to a new or existing individual RRSP or RRIF in your name. The account can be with Wealthsimple or we can facilitate an institutional transfer to another institution.

Frequently asked questions

Please review the Government of Canada’s frequently asked questions about RRSPs/RRIFs.