What happens to my Registered Retirement Income Fund (RRIF) at Interactive Brokers when I turn 71?

If you have an RRSP with Interactive Brokers Canada, the conversion process is automatic:

  • Notification: You will receive a notification the year you turn 70 to alert you of the upcoming conversion
  • Account opening: A linked RRIF account will automatically open when you reach 71 (if you do not already have one)
  • Asset transfer: Your RRSP assets will automatically transfer to your RRIF on the last business day of the year you turn 71
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