What is the CRA doing about the RRSP schemes?

The CRA has undertaken a significant initiative to increase audits at several levels.

First, the CRA has increased its compliance monitoring activities by focusing on the RRSPs held by trustees.

Second, the CRA has conducted audits of investments acquired by RRSPs to ensure they were bona fide investments and they were qualified investments for RRSP purposes. Where an investment by an RRSP was determined to be part of an RRSP scheme, we have taken appropriate reassessment action.

In addition, the CRA has engaged in the following activities in our ongoing efforts to stamp out abusive RRSP schemes:

• enlisted the active participation of trustees to help target these schemes;
• targeted RRSP promoters with various enforcement and compliance actions; and
• posted tax alerts on this website to warn the public of such arrangements.

Related links

• Tax Alert

Date modified:

2016-11-09