How to Transfer to Wealthsimple in 2026: RRSP, TFSA, FHSA, Non-Registered
TL;DR
Open the destination account at Wealthsimple first → start the transfer in-app → upload a recent statement → wait 2–4 weeks → submit the transfer-fee receipt for reimbursement (up to $150). Don't sell anything yourself or you'll create a tax event in non-registered accounts.
Before you start
- Open the matching account type at Wealthsimple (RRSP → RRSP, TFSA → TFSA, etc.)
- Grab your most recent statement from the existing institution (PDF works)
- Confirm your name on both accounts matches exactly — mismatches add weeks
- Decide cash vs in-kind
Step 1 — Initiate the transfer in the Wealthsimple app
Go to your destination account → Move funds → Transfer an account. Enter your old institution and account number. Wealthsimple sends Form T2033 (registered) or a regular transfer authorization (non-registered) to your old institution on your behalf.
Step 2 — Upload your statement
A clear PDF of a recent statement (within 60 days) accelerates the request. The statement must show your name, account number, holdings (for in-kind), and the institution's logo.
Step 3 — Wait 2–4 weeks
Cash transfers: 5–10 business days. In-kind: 2–4 weeks. The ball is in your old institution's court — Wealthsimple cannot speed this up. The "Transfers" page in-app shows live status.
Step 4 — Claim the transfer-fee reimbursement
Once the transfer completes and you've moved at least $15,000, your old institution's transfer-out fee ($75–$150 typical) is reimbursed by Wealthsimple. Upload the fee receipt through Help → Transfer reimbursement within 6 months.
Common mistakes to avoid
- Selling positions yourself in a non-reg account — this triggers capital gains tax. Use our capital gains calculator to see the cost first.
- Withdrawing then redepositing — counts as a contribution, blowing past your TFSA/RRSP/FHSA room. Always do a direct transfer.
- Transferring $14,999 — the $15K minimum for fee reimbursement is firm. Add a few hundred dollars beforehand if you're close.
- Mismatched account types — RRSPs can transfer to RRSPs and to RRIFs (after age conversion), but not to TFSAs without going through a withdrawal.
What happens to your tax slips?
Your old institution issues T4RSP/T5/T3 slips for any pre-transfer income. Wealthsimple issues slips for everything post-transfer. There's no gap, no double-counting. For a deeper look at how Wealthsimple handles taxes, see our Wealthsimple Tax review.
Related guides
Sources: Wealthsimple official transfer page, CRA Form T2033 instructions. We do not accept referrals from Wealthsimple. Last reviewed: April 22, 2026.
Editorial disclaimer
This article is published by LoonieLabs for general information only. It is not financial, tax, legal, accounting, or immigration advice and must not be relied on as such. Rules, dollar figures, interest rates, and program eligibility change — always verify with the Canada Revenue Agency, IRCC, or a qualified professional before acting. Spotted an error? See our corrections policy. Last reviewed: April 22, 2026.
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Written and reviewed by Shrey Patel — Founder & Editor-in-Chief
Winnipeg, MB · Figures cross-checked against official banking & credit sources · Last reviewed April 22, 2026 · LinkedIn
Founder of LoonieLabs · based in Winnipeg, MB · writes and reviews every page on the site I oversee every figure on this page personally — verified against primary sources (CRA, IRCC, Statistics Canada, the Bank of Canada, or the originating provincial ministry). LoonieLabs has no affiliate relationships with any bank, credit card, or immigration consultant featured on this site. Spotted a mistake? Tell us.
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