How to transfer your brokerage account in-kind in Canada

1. In-kind or in-cash: the choice that changes everything

Every transfer form makes you pick one of two modes:

In-kind transfer: accepted securities move without being sold. If the receiving institution accepts and transfers 80 units of XEQT intact between accounts with the same owner, the transfer itself normally does not realize a capital gain. Keep your own ACB (adjusted cost base) records and verify the displayed book cost after arrival. Any fractional or unsupported position that is sold can still create a disposition.

In-cash transfer: the selected holdings must be liquidated to move their proceeds; confirm who must execute the sales. Inside a TFSA or RRSP, sales of qualified investments generally do not create a personal capital gain to report, but tax exceptions exist, including certain investments or a TFSA carrying on a business. A qualifying direct transfer and a personal withdrawal are different transactions. In a non-registered account, a sale may realize a gain or loss to report for the relevant year.

Worked example — why the transfer method matters

You hold $60,000 of ETFs in a non-registered account, bought for $40,000 (your ACB). You switch brokers:

• In-cash: the sale realizes a $20,000 capital gain → $10,000 taxable (50% inclusion rate) → at a hypothetical constant 37% marginal rate, $3,700 of illustrative tax. This example excludes fees, losses, exemptions and bracket changes; it does not establish a payment deadline.
• In-kind: if all positions are accepted and transferred intact, the transfer itself does not realize the gain. A later sale, or a required liquidation during the transfer, is treated separately.

In-cash still has legitimate uses: securities the new broker doesn’t carry (proprietary funds), tiny positions, or holdings you planned to sell anyway. But it should be a deliberate choice, never the default.

2. TFSA, RRSP, FHSA: check direct-transfer and tax rules

A direct institution-to-institution transfer between the same registered account type is generally not treated as a withdrawal and new contribution when the required process is followed. Confirm the account type, form and asset eligibility with the receiving institution.

TFSA: a qualifying direct transfer between two TFSAs does not use contribution room. If you withdraw and re-contribute in the same year, the re-contribution uses the room that is available then; the withdrawn amount is added back only on January 1 of the following year. The 2026 annual TFSA dollar limit is $7,000, but each person’s available room also depends on unused room and prior withdrawals. The CRA charges 1% per month on the highest actual excess in each month.

RRSP: an ordinary withdrawal is generally taxable and subject to withholding, which is not necessarily the final tax. A withdrawal generally does not recreate used RRSP room. A qualifying direct RRSP-to-RRSP transfer is normally tax-deferred and does not use deduction room. Documentation and tax reporting depend on the transfer; no universal promise of no tax slips or formalities can be made.

FHSA: a direct FHSA-to-FHSA transfer generally does not reduce unused FHSA participation room. A direct RRSP-to-FHSA transfer follows different rules and reduces available FHSA room, so check the CRA instructions for the transfer you intend to make.

3. The actual process: everything starts at the NEW broker

The request generally begins with the receiving broker. Either institution may still request information or further action; check both sets of instructions.

1. Start with the same account type at the new broker: TFSA to TFSA, RRSP to RRSP, non-registered to non-registered. Different-type transfers can have separate tax and contribution-room rules; for example, a direct RRSP-to-FHSA transfer can be permitted within available FHSA room.
2. Fill out the transfer form at the new broker (usually fully online). Have a recent statement from the old account handy: account number, exact type, institution name.
3. Pick the mode: in-kind, in-cash, or mixed — and full or partial (you can move only selected positions).
4. The new broker submits the request, through ATON when the institutions and account support it or through a manual process otherwise. Trading or withdrawals may be restricted during the transfer.
5. Verify everything on arrival: positions, residual cash, and above all the displayed book cost (see the pitfalls below).

Still picking a destination? Our guide to Canadian brokers reviews fees and account types, and our Wealthsimple vs Questrade vs Disnat comparison compares these three platforms.

4. Transfer fees vary by institution and request

Check the outgoing institution’s current schedule and whether the request is full or partial. Examples rechecked October 19, 2026; consult the linked schedules before submitting:

A reimbursement may be offered under the receiving broker’s policy; it is neither automatic at every broker nor applicable to every fee. Check two things:

• Check the reimbursement policy before initiating: asset threshold, maximum refunded, and the process (often a support request with proof of the fee).
• Keep the statement showing the fee charged by the old broker — that’s your receipt.

Fees reduce the assets of the account they are charged to. Ask how they will be paid or reimbursed and what treatment applies; do not assume an external payment restores contribution room.

5. Timelines depend on the account and assets

Published estimates differ by institution, account type, asset and transfer method. Use the receiving institution’s current estimate and tracker rather than a general ATON promise.

Trading or withdrawals may be restricted while the transfer runs. The scope can differ for full, partial, ATON and manual requests. Follow the receiving institution’s tracker and escalation instructions rather than relying on a universal deadline.

6. The pitfalls to know before you sign

Fractional shares: check the applicable policy

Fractional-share policies vary. Wealthsimple currently states that only whole shares transfer in kind and that it sells fractional shares as part of a full transfer-out. In a non-registered account, such a sale can create a reportable capital gain or loss. Check both institutions before submitting.

DRIP and automatic activity: confirm the instructions

If your dividend reinvestment plan (DRIP) is active, ask the receiving institution how dividends or new fractions will be handled and whether it wants you to pause the plan or automatic contributions.

Late dividends: don’t close the old account too fast

A dividend can arrive after the main positions move. Ask both institutions how they handle residual cash and when it is safe to close the old account.

Securities that can’t transfer

Some products can’t follow you: proprietary in-house funds not distributed elsewhere, certain non-transferable GICs, labour-sponsored fund units. Your options: leave them at the old institution, or sell — weighing the tax hit if the account is non-registered. Check before launching the transfer.

Wrong book cost on arrival: the silent trap

After an in-kind transfer, the displayed book cost can be missing or differ from your records. Download your statements and trade confirmations before leaving and keep your own ACB history. Our ACB and taxation guide explains the calculation.

Don’t confuse a transfer with an in-kind contribution

Moving securities from a non-registered account into a TFSA is an in-kind contribution and a disposition at fair market value. The CRA says you must report a gain when that value exceeds cost; when it is below cost, the capital loss from this contribution cannot be claimed. The contribution equals fair market value and reduces available TFSA room. Check the separate rules before making any in-kind contribution to another registered plan.

7. Step-by-step checklist

1. Compare receiving brokers: fees, account types, available securities (full guide).
2. Check the new broker’s transfer-fee reimbursement policy (threshold, process).
3. Open accounts of the same type as the ones you’re moving.
4. Confirm with the institutions whether to pause your DRIP, automatic contributions or open orders.
5. Download statements, trade confirmations and your ACB history from the old account.
6. Submit the transfer request at the new broker: in-kind, full or partial.
7. Follow the confirmed trading and withdrawal restrictions for this full or partial transfer.
8. Track progress and follow up using the receiving broker’s estimate and escalation procedure, not a universal deadline.
9. On arrival: verify every position, the sold fractions and residual cash, and fix the displayed book cost if needed.
10. Claim any eligible fee reimbursement with proof and check residual positions. For your tracking view, choose a compatible import, manual entry or supported broker sync. Check plan access and connection requirements before connecting; setup duration varies.

Frequently Asked Questions

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