What happens to your RRSPs when you file for bankruptcy?
Today 03/14/2010
Bankruptcy Ontario: Free Information about Bankruptcy in Ontario
What happens to your RRSPs when you file for bankruptcy?
Under current rules, if you go bankrupt in Ontario you lose your RRSPs. The only exception would be if your RRSPs are exempt from seizure, because they are locked in or in special insurance or segregated funds.
The best way to determine if your RRSPs would be seized in a bankrupty is to get a copy of your RRSP statement and policy, and then book a meeting with a licensed bankruptcy trustee to review your RRSP policy.