Wealthsimple RRSP: fees, account types, transfers and the 2026 deadline

A Wealthsimple RRSP is a Registered Retirement Savings Plan held at Wealthsimple, and you can open it three ways: self-directed (a Wealthsimple Trade RRSP where you pick the ETFs), managed (Wealthsimple invests and rebalances for you) or as a cash-only registered savings account. This guide shows what each version costs, how much you can put in for 2026, when the contribution deadline really falls, how to move an RRSP from your bank without a tax bill, and whether a “Wealthsimple RRSP match” exists. YieldMaple checked Wealthsimple’s RRSP, spousal RRSP, pricing, promotions and fee-schedule pages, the CRA’s RRSP pages and the Income Tax Act on September 23, 2026; every figure below comes from those pages or is calculated from them.

Wealthsimple RRSP at a glance

The three Wealthsimple RRSP types (checked September 23, 2026)

	Self-directed RRSP	Managed RRSP	Registered savings RRSP
Wealthsimple's fee	$0 commission on listed stocks and ETFs	0.50% a year (Core), 0.40% a year (Premium)	No fees, per Wealthsimple
Who picks the investments	You	Wealthsimple's portfolio team	Nothing to pick: it holds cash
US-listed stocks	Allowed; 1.5% conversion fee from the CAD side	Wealthsimple chooses the funds	Not applicable
Spousal version	Yes	Yes	Not listed on Wealthsimple's spousal RRSP page
Protection	securities eligible for CIPF coverage up to $1M per defined account	securities eligible for CIPF coverage up to $1M per defined account	CDIC coverage on eligible deposits, per Wealthsimple
Best for	ETF investors who will choose and hold their own funds	Hands-off savers who want automatic rebalancing	Cash you'll need within a year or two

Which Wealthsimple RRSP account should you open?

Open a self-directed RRSP if you’ll pick your own ETFs, a managed RRSP if you want Wealthsimple to invest for you, and the registered savings version only for cash.

Self-directed RRSP (the “Wealthsimple Trade RRSP”). Wealthsimple’s RRSP page calls this a Wealthsimple Trade account. Listed Canadian and US stocks and ETFs cost $0 in commission, there is no account minimum, and fractional shares, available on thousands of Canadian and US stocks and ETFs, let a contribution go fully into the market even when one unit costs more than you’re adding. You can set up recurring investments, and instant deposits let you invest before a deposit settles, up to a limit Wealthsimple sets. If you want a ready-built portfolio without leaving a self-directed account, Wealthsimple’s Automated Investing service is available on RRSPs for 0.25%, capped at $250 per account per year.

Managed RRSP. You answer questions about your goals and timeline, and Wealthsimple invests the money in one of its diversified ETF portfolios and rebalances it for you. The fee is 0.50% a year for Core clients, 0.40% a year for Premium clients (from $100,000 in assets) and from 0.4% down to 0.2% a year for Generation clients (from $500,000). You can’t buy individual stocks or ETFs in it. The managed vs self-directed comparison goes deeper on the trade-off.

Registered savings RRSP. A cash-only RRSP that earns interest instead of investing. Wealthsimple’s registered savings page says it can be opened as a TFSA, RRSP or FHSA, has no minimum balance and no fees, and pays a rate that rises with your client tier. Inside an RRSP, that interest isn’t taxed until you withdraw. It suits money you’ve contributed before the deadline but haven’t decided how to invest, or savings you’ll draw on soon.

Spousal RRSP. Wealthsimple’s spousal RRSP page offers both the managed and self-directed versions. The higher-earning partner contributes and takes the deduction, and the lower-earning partner owns the account and is taxed on withdrawals. The page also points out that an older contributor can keep paying into a spousal RRSP after turning 71: the CRA allows contributions until December 31 of the year your spouse or common-law partner turns 71. One catch: the CRA taxes a withdrawal back to the contributor if they paid into any spousal RRSP in the year of the withdrawal or either of the two years before.

Group RRSP through work. Wealthsimple also runs group plans for employers; its group savings page says it administers group RRSPs, group FHSAs, group TFSAs, deferred profit sharing plans and group non-registered accounts. Wealthsimple’s own RRSP page suggests that if your employer has a matching group RRSP, you should take it. That advice holds wherever the plan is held, because an employer match is money you don’t get any other way.

Wealthsimple’s RRSP page lists 18 to 71 as the age range for opening one. After that, the RRSP has to become a RRIF, which Wealthsimple also offers.

What does a Wealthsimple RRSP cost?

A self-directed Wealthsimple RRSP costs $0 to open and $0 per stock or ETF trade; a managed RRSP costs 0.50% a year for Core clients.

The full list, per Wealthsimple’s pricing page and Trade fee schedule (September 2026):

• Commission: $0 on listed Canadian and US stocks and ETFs.
• Currency conversion: 1.5% when you trade a US-listed security from the Canadian-dollar side of the RRSP, charged on the purchase and again on the sale.
• USD account: $10 a month for Core clients; free for Premium and Generation. Converting into or out of it costs 1.5% under $10,000; 1.0% from $10,000; 0.5% from $25,000; 0% from $100,000. Wealthsimple’s pricing page doesn’t say which registered accounts the USD account covers, so confirm in the app that it’s offered on your RRSP before you pay for it; the Wealthsimple USD account guide covers how it works.
• Options: US$0 per contract.
• Managed investing: 0.50% a year (Core), 0.40% a year (Premium) and from 0.4% down to 0.2% a year (Generation), plus the fund costs of the ETFs in each portfolio.
• Withdrawals, closing and transferring out: the fee schedule lists no charge for bank-transfer withdrawals, closing an account or moving it to another institution. Instant withdrawals from investment accounts cost 2.5%. For contrast, RBC Direct Investing charges $50 per RRSP withdrawal and $150 to transfer out.

Your RRSP also counts toward Wealthsimple’s client tiers. The pricing FAQ says RRSPs and group RRSPs are included when Wealthsimple checks the $100,000 and $500,000 thresholds, so a large RRSP on its own can lower your managed fee and unlock the free USD account.

Worked example: yearly cost on a maximum 2026 contribution

Here’s what each approach costs in a year, using Wealthsimple’s published fees and XEQT (a one-fund global stock ETF) as the self-directed example.

On $33,810, the 2026 RRSP dollar limit:

• Managed, Core client: about $169 a year, plus the portfolio’s fund costs.
• Self-directed with Automated Investing: about $85 a year, plus the fund costs of the ETFs it buys.
• Self-directed, all in XEQT: $0 in commission; the only cost is XEQT’s 0.19% MER, about $64 a year.

On a larger RRSP of $150,000, which clears the Premium threshold by itself:

• Managed, Premium client: $600 a year, plus fund costs.
• Automated Investing: $250 a year, because the cap applies, plus fund costs.
• Self-directed, all in XEQT: nothing to Wealthsimple, and about $285 a year in XEQT’s MER.

The gap between those lines is the price of having someone else choose, rebalance and adjust the mix. XEQT is all stocks; Wealthsimple’s lower-risk managed portfolios add bonds and gold, which matters if a market drop would make you sell. If you’d stay invested either way, one ETF in a self-directed RRSP is the cheapest way to hold a diversified retirement portfolio at Wealthsimple.

What can you hold in a Wealthsimple Trade RRSP?

A self-directed Wealthsimple RRSP can hold listed Canadian and US stocks, ETFs and four basic options strategies, but not crypto, and it can’t borrow on margin.

• Stocks and ETFs: listed Canadian and US securities at $0 commission. Canadian-listed ETFs that hold US stocks, such as VFV or XEQT, trade in Canadian dollars, so they skip the 1.5% conversion fee. The VFV vs XEQT comparison explains which suits which investor, and the guide to buying XEQT on Wealthsimple walks through the order screen.
• Options: Wealthsimple’s options page allows long calls, long puts, secured puts and covered calls in registered accounts such as an RRSP, at US$0 per contract. Every other strategy needs a margin account.
• Crypto: not allowed. Wealthsimple’s crypto page says coins can only be held in a non-registered account.
• Margin and borrowing: an RRSP can’t borrow, and Wealthsimple’s portfolio line of credit accepts only up to 5 non-registered accounts or TFSAs (not margin accounts, FHSAs, RRSPs, RESPs, LIRAs or joint accounts) as collateral, so an RRSP can’t back a loan there either.
• GICs: Wealthsimple’s trading pages don’t list GICs. If you want a GIC ladder in your RRSP, a bank or a brokerage that sells GICs is the simpler home.

The RRSP’s US-dividend advantage. Under the Canada–US tax treaty, dividends paid to a retirement plan are exempt from US tax, as long as the plan is operated exclusively to provide pension, retirement or employee benefits, and the US Treasury's technical explanation of the 2007 Protocol uses a Canadian RRSP as its example of a retirement arrangement described in that exemption. Wealthsimple’s own TFSA FAQ makes the same point: US dividends lose a non-recoverable slice to US withholding tax inside a TFSA, “unlike in an RRSP”. The exemption covers dividends paid to the RRSP itself, so it applies to US-listed stocks and ETFs held directly in the account. A Canadian-listed ETF that owns US stocks, such as VFV, receives those dividends inside the fund rather than in your RRSP, so don’t count on the exemption there.

That makes the RRSP the natural home for a US-listed ETF, but the currency cost comes first. Buying $10,000 of a US-listed ETF from the RRSP’s Canadian-dollar side costs about $150 in conversion fees, and roughly the same again when you sell. The USD account removes that per-trade charge, but converting Canadian dollars into it still carries a conversion fee (1.5% under $10,000; 1.0% from $10,000; 0.5% from $25,000; 0% from $100,000, by conversion size), and the account itself costs $120 a year plus tax for Core clients (it’s free for Premium and Generation). It pays off when you trade in US dollars repeatedly, or when you already hold US dollars, which Wealthsimple’s pricing page says you can move in for free. For most people adding a few thousand dollars a year, a Canadian-listed ETF bought in Canadian dollars is still the cheaper route.

How much can you contribute to a Wealthsimple RRSP in 2026?

For 2026 you can deduct up to 18% of your 2025 earned income, capped at $33,810, plus unused room from earlier years, minus any pension adjustment.

The CRA’s full rule for your RRSP deduction limit is: unused room carried forward, plus the lesser of 18% of last year's earned income and the annual RRSP limit, minus your pension adjustment. Two examples:

• With $70,000 of 2025 earned income and no workplace pension, new 2026 room is $12,600, plus anything unused from earlier years.
• To earn the full $33,810 of new room, you need about $187,833 of 2025 earned income. Above that, the dollar limit is the cap.

The 2027 dollar limit is already set at $35,390.

Three rules trip people up:

1. One limit, every RRSP. The CRA’s deduction limit covers all your RRSPs plus any spousal RRSP you contribute to. Wealthsimple can’t see what you’ve put in at your bank or through a group RRSP at work.
2. Check the CRA’s number, not a guess. Your exact limit is on the RRSP Deduction Limit Statement in your latest notice of assessment. Contributions above your limit plus a small CRA buffer are taxed every month until you withdraw them, and the RRSP contribution limit guide explains how to fix an over-contribution.
3. Room carries forward. Unused room never expires, so a smaller contribution now doesn’t cost you anything later.

Use the helper below as a quick Wealthsimple RRSP calculator for your 2026 room. For refund and growth projections, use the RRSP calculator.

When is the RRSP deadline for the 2026 tax year?

The CRA hasn’t posted the 2026 date yet, but the Income Tax Act’s 60-day rule points to Monday, March 1, 2027.

Section 146(5) of the Income Tax Act lets you deduct RRSP contributions made on or before the day that is 60 days after the end of the tax year. The CRA’s own date for the 2026 tax year is not yet posted on canada.ca (as of September 23, 2026); its RRSP pages still show last year’s deadline. When the 60th day lands on a weekend, the CRA’s posted date moves: for the 2025 tax year the 60th day was a Sunday, and the CRA’s deadline was Monday, March 2, 2026.

Wealthsimple’s RRSP page gives a slightly different answer: it lists February 28, 2027, which falls on a Sunday. The safe plan is to have the money inside your RRSP by Friday, February 26, 2027, which meets either date. Don’t leave a large bank transfer until the final weekend; the contribution has to reach the RRSP, not just leave your bank.

Other deadlines worth knowing:

• Your own RRSP: you can contribute until December 31 of the year you turn 71, when the account has to be converted (usually to a RRIF).
• A spousal RRSP: contributions can continue until December 31 of the year your spouse or common-law partner turns 71.
• Contributions in the first 60 days of a year: you can claim them on the previous year’s return or save the deduction for a later year. The CRA asks you to report any you don’t deduct on Schedule 7.

The RRSP deadline guide covers last-minute strategy in more detail.

How do you transfer an RRSP to Wealthsimple?

Start the transfer from inside Wealthsimple so the RRSP moves directly; withdrawing and re-depositing it yourself would be taxed as income and would use up new contribution room.

1. Open the matching account. An individual RRSP goes into a Wealthsimple RRSP and a spousal RRSP into a Wealthsimple spousal RRSP. Wealthsimple’s transfer page says registered accounts move with no tax implications as long as they go into the same account type.
2. Register for the transfer match first if you’re moving $25,000 or more (details in the next section).
3. Start the transfer. In the app, tap the arrows at the bottom of the screen and choose Move an account to Wealthsimple; on the web, click Move at the top of the screen. Pick in-kind (your holdings move as they are) or cash (the old institution sells first), and enter the details from a recent statement.
4. Wait. Wealthsimple’s help centre puts the average RRSP transfer at 2–4 weeks, and spousal RRSPs take the same. Moving RRSP money into an FHSA is handled manually and takes 2–6 weeks.
5. Get the fee back. Under Wealthsimple’s policy the old institution’s transfer-out fee is reimbursed on transfers of $25,000 or more, up to $150 per account, as long as the account stays funded for 90 days. Keep the statement that shows the fee.

What the reimbursement is worth. RBC Direct Investing charges $150 to transfer out, and Edward Jones Canada charges $135 for a full external transfer. Both firms add sales tax where it applies, so on a qualifying transfer Wealthsimple’s $150 cap covers the base fee at either one, but the tax on top may not be fully covered. The policy reimburses only the administrative transfer-out fee; deferred sales charges, commissions and account-closure fees aren’t covered. Below $25,000, you pay the old institution’s fee yourself, so check it before you move a small RRSP.

The full Wealthsimple transfer guide covers TFSA, FHSA and non-registered transfers as well.

Is there a Wealthsimple RRSP match?

No: Wealthsimple’s September 2026 promotions page lists no RRSP contribution match, only a transfer match worth 1% of the net amount transferred on transfers of $25,000 or more.

People searching for a “Wealthsimple RRSP match” usually mean one of three things:

• The transfer match. Wealthsimple pays 1% of the net amount transferred, up to $20,000, when you move $25,000 or more from other institutions within 30 days of registering. RRSPs qualify, and several accounts moved in that window are added together. It’s paid over 24 months into a Wealthsimple Chequing account, and the match stacks with the new-client bonus. At the minimum, that’s $250, or about $10.42 a month for two years. Wealthsimple notes the match payments themselves may be taxable, and the full match is paid only while the transferred money stays invested.
• An employer match. If your employer offers a group RRSP with matching contributions, whether Wealthsimple or another provider runs the plan, that match is usually worth more than any promotion. Contribute at least enough to collect all of it.
• The new-client bonus. Through a personal referral link, new clients get $25 after depositing $100 within 30 days. The Wealthsimple bonus guide lists the current terms.

Where a contribution match does exist. Questrade’s Plus page lists a 1% match on deposits to your Questrade RRSP (Questrade Plus subscribers, from August 1, 2026), on contributions up to the CRA’s dollar limit for the year. Plus costs $19.99 a month plus applicable taxes (free for the first 30 days), so the match only pays for itself on large yearly contributions: a year of Plus is about $240, which the match covers once you contribute about $24,000 in the year. At the $33,810 maximum, the match is about $338. Plus has other perks too, so weigh the whole package in the Wealthsimple vs Questrade comparison.

Wealthsimple changes its promotions from time to time, so check its promotions page during RRSP season in January and February.

How do RRSP withdrawals work at Wealthsimple?

You can withdraw any time, but the amount is taxable income, tax is withheld at source, and the contribution room you used doesn’t come back.

• Tax withheld: the CRA says your financial institution withholds tax when you withdraw, at a rate that rises with the size of the withdrawal (Quebec has its own rates). The withheld amount may not cover your full tax bill, so a large withdrawal can mean more tax owing at filing time.
• Wealthsimple’s fees: none for a regular bank-transfer withdrawal; instant withdrawals from investment accounts cost 2.5%.
• Home Buyers’ Plan and Lifelong Learning Plan: Wealthsimple’s RRSP page notes that both let you take limited amounts out before retirement, for a first home or for education. They aren’t taxed as long as you repay on schedule. The RRSP Home Buyers’ Plan guide covers the rules.
• Moving RRSP money into an FHSA: a direct RRSP-to-FHSA transfer takes 2–6 weeks at Wealthsimple, and the CRA counts it against your FHSA participation room. The Wealthsimple FHSA guide explains when that’s worth doing.
• Spousal RRSPs: the three-year attribution rule above applies, so plan spousal withdrawals around the contributor’s last deposit.

Is Wealthsimple the best RRSP account?

For ETF investors who want $0 trades and automatic contributions, Wealthsimple is a strong RRSP choice; Questrade suits US-dollar holders, and a bank suits GIC buyers.

Pick a Wealthsimple RRSP if:

• You’ll buy Canadian-listed ETFs such as XEQT with regular contributions and want fractional shares and recurring buys.
• You want the option of a managed RRSP later without changing institutions.
• You’re consolidating an RRSP of $25,000 or more and can use the fee reimbursement and transfer match.

Pick Questrade if:

• You want to hold US-listed ETFs in your RRSP for the dividend treaty benefit. Questrade also charges $0 to buy and sell Canadian and U.S.-listed stocks and ETFs, and per its pricing page, you can hold USD in registered accounts, so US trades don't force a conversion. Compare Questrade's current pricing or read the Wealthsimple vs Questrade comparison.
• You contribute roughly $24,000 or more a year and want a match on contributions, which Questrade Plus offers and Wealthsimple doesn’t (see the RRSP match section above).

Pick a bank RRSP if:

• You want GICs, branch service or everything under one login. Expect per-trade commissions on most stocks and ETFs: TD Direct Investing lists $9.99 per trade (Standard); $7.00 per trade (Active Trader); $0 on select ETFs, so 12 monthly purchases of an ETF outside its commission-free list cost about $120 a year. Check that list first: it has 108 ETFs, including VFV, VEQT, VGRO, VBAL, SPY, QQQ and TD's own ETFs such as TEQT, but not XEQT. RBC’s GoSmart offers 50 commission-free stock and ETF trades per year in an RRSP, but transfers in are not accepted from other investment accounts, at RBC or elsewhere, so you can’t consolidate an existing RRSP there. The Wealthsimple vs RBC Direct Investing comparison goes line by line.

Should you fund the RRSP, TFSA or FHSA first? If you’re a first-time home buyer, the FHSA usually comes first, because it offers a deduction like an RRSP and a tax-free withdrawal for a home like a TFSA, up to $8,000 a year. If your income is high now and you expect it to be lower in retirement, or your employer matches group RRSP contributions, the RRSP pulls ahead. If your income is modest or you may need the money before retirement, the TFSA’s flexibility usually wins. The TFSA vs RRSP guide runs the numbers, and the Wealthsimple TFSA guide covers that account in detail.

The best RRSP accounts in Canada roundup ranks the alternatives side by side.

Is a Wealthsimple RRSP safe?

Yes: a Wealthsimple RRSP’s investments are CIPF-protected (securities eligible for CIPF coverage up to $1M per defined account), and Wealthsimple says its trading partners are regulated by CIRO.

CIPF protects you if the investment dealer becomes insolvent; it doesn’t protect against market losses, so an RRSP full of stocks can still fall in value. Cash in a registered savings RRSP is covered by CDIC instead, per Wealthsimple’s registered savings page. For Wealthsimple’s Chequing account, CDIC coverage is up to $1 million, because funds are spread across up to 10 CDIC member institutions (Wealthsimple itself is not a CDIC member). For the full picture, including data security, see whether Wealthsimple is safe.

The verdict: who should (and shouldn’t) open a Wealthsimple RRSP

A Wealthsimple RRSP is a good fit if you want to build a retirement portfolio from low-cost ETFs with $0 commissions, fractional shares and automatic contributions, or if you’d rather pay 0.50% a year for a managed portfolio than leave RRSP money in cash. It’s also worth a look if you’re consolidating $25,000 or more, because the fee reimbursement and the transfer match both start at that size.

It’s the wrong fit if you want GICs inside your RRSP, want crypto in a registered account, or plan to trade US-listed stocks often without a USD account. And if your employer offers a matching group RRSP somewhere else, fill that first; no brokerage promotion beats an employer match.

This page is general education, not financial advice. The right account depends on your income, tax bracket, timeline and other savings. For everything else Wealthsimple offers, start with our complete Wealthsimple guide.