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If a client has a self-directed RRSP/RRIF and an Open Account, can they choose to pay the administration fee from either account?

April 26, 2017account Administration client fee pay RRIF RRSP self-directed

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If a client has a self-directed RRSP/RRIF and an Open Account, can they choose to pay the administration fee from either account?

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Absolutely! Your client can pay the administration fee from the account of their choice. Should they choose to pay the fee from their Open Account, they may be eligible for tax deductions – a tax specialist should be consulted.