RRIF
 

My advisor at my Canadian bank - TD Canada Trust - told me they can’t deposit my monthly RRIF payments in my UK bank account they are only allowed to deposit them into my Canadian bank account.
Can anyone now living in the UK and drawing on their Canadian RRIFs confirm or dispute this? I thought I read somewhere on here that someone was having their RRIF payments deposited to their UK account but I can’t find the post now.
Thank you.

Re: RRIF
 

There is a thread here that says it must remain in Canada but I am not sure how reliable this is. Like quite a few of us, when you get to the UK you may need a UK/Canada tax accountant anyway. It can all get very complicated.


https://www.expatforum.com/threads/r...he-uk.1522580/

Re: RRIF
 

Thank you very much. I was hoping someone on here would be drawing monthly (periodic) payments and would share their personal experiences.
We will look for a UK/Canada tax advisor. There was a UK firm recommended on here (Lynch) but they aren’t taking on any new clients.

Re: RRIF
 

It may well be possible to open a Wise account including one denominated in CAD. I have a Wise USD account and it has a US bank routing and account number. I have it set up to receive the retirement funds from my US brokerage that holds my retirement account (IRA). Funds I draw from my IRA go directly to my USD Wise account and then it takes seconds to transfer it in GBP to my UK bank.

https://wise.com/

Re: RRIF
 

Thank you. I’ll have another look at Wise.