6 November 1990 External T.I. 9019265 F - Transfer of Property of Self-administered RRSP from One Trustee to Another not Foreign Property Investment

By services, 18 January, 2022
Official title
Transfer of Property of Self-administered RRSP from One Trustee to Another not Foreign Property Investment
Language
French
CRA tags
146(16), 207.1
Document number
Citation name
9019265
Severed letter type
Technical Interpretation - External
d7 import status
Drupal 7 entity type
Node
Drupal 7 entity ID
631577
Extra import data
{
"field_external_guid": [],
"field_proprietary_citation": [],
"field_release_date_new": "1990-11-06 07:00:00",
"field_tags": []
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Main text
24(1) 5-901926
  D.S. Delorey
  (613) 957-3495

19(1)

November 6, 1990

This is in reply to your letter of August 13, 1990 concerning the comments in paragraph 7 of Interpretation Bulletin IT-412R.

It is our view that the transfer of property of a registered retirement savings plan from one trustee to another trustee pursuant to subsection 146(16) of the Income Tax Act (the "Act") does not constitute an acquisition of property by the trust for the purposes of paragraph 207.1(1)(b) of the Act. Thus, for the purposes of section 207.1 of the Act, the "grand-fathered" status of property acquired by the trust before August 25, 1972 will not be lost solely as i result of such transfer in and of itself.

The above comments are an expression of opinion only and are not binding on the Department, as explained in paragraph 21 of Information Circular 70-6R2. We trust however that they are of assistance to you.

Yours truly,

for DirectorFinancial Industries DivisionRulings Directorate