Further to RSP withdrawals

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sculpin

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Further to RSP withdrawals

posted on Dec 24, 2010 09:40PM

This is what happens at RBC upon RSP withdrawals.There is a redemption fee of $56 thats added on top of the tax withheld. I was talking to the broker about taking out $5k so I am not totaly sure if it pertains to any amount, but he did say its a flat fee.

If you cash out of your RSP an amount between $5000 and $15000, 20% is withheld for taxes, anything above $15000 a 30% tax is withheld.

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