CRA Form T2030 – Direct Transfer Under Subparagraph 60(1)(v)

Official Canada Revenue Agency (CRA) form to request the direct transfer of registered property from one plan to another under the Income Tax Act.

What Is Form T2030?

Form T2030 is used by an individual, the transferor, and the transferee to request a direct transfer of certain property from a Registered Retirement Savings Plan (RRSP) or a Registered Retirement Income Fund (RRIF) to another RRSP, RRIF, or to purchase an eligible annuity without withholding tax.

When to Use This Form

This form applies when transferring retirement funds under the Income Tax Act’s subparagraph 60(1)(v). Typical situations include:

  • Direct transfer from an RRSP to another RRSP or RRIF;
  • Direct transfer of a lump sum or commutation payment to another registered plan;
  • Transfer of an excess amount from a RRIF to another RRSP or RRIF.

How to Get the Form

Download the form in the required format. You must save and open fillable PDFs on your computer (e.g., Adobe Acrobat Reader 10 or later):

How to Complete and Submit

Follow the instructions included with the form. Generally:

  • Complete personal and plan information on the form;
  • Ensure the transferor and transferee fill relevant sections as required;
  • Retain copies of all completed sections for records and processing.

Do not send the form to the CRA unless specifically requested. It is typically kept by the parties involved and used for reporting purposes (e.g., to support slips like T4RSP or T4RIF when applicable).

Important Notes

Using Form T2030 appropriately ensures that the transfer of retirement funds does not trigger immediate tax withholding and helps facilitate correct reporting to the CRA. Always verify the specific transfer requirements and conditions under the Income Tax Act or seek professional advice if unsure.