RRSP, TFSA, FHSA and RRIF compared for 2026
How Canada's main registered accounts differ on room, deductions, withdrawals, age limits and protection.
This table compares account types, not providers. Each row shows the 2026 rule as published by the CRA, the situation it usually suits and the trap people fall into. Read it with the 2026 overview and the linked guides before moving money. Quebec residents use the same accounts under their French names (REER, CELI, CELIAPP, FERR), with some differences in withholding and beneficiary designations.
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| Feature | RRSP | TFSA | FHSA | RRIF |
|---|---|---|---|---|
| New room for 2026 | 18% of 2025 earned income, up to $33,810, minus pension adjustment | $7,000 | $8,000 a year (lifetime $40,000) | None; no contributions |
| Unused room | Carries forward indefinitely | Carries forward; cumulative $109,000 since 2009 | Up to $8,000 carries forward to the next year | Not applicable |
| Contribution deductible | Yes | No | Yes | Not applicable |
| Tax on withdrawal | Fully taxable, with withholding at source | None | None if qualifying home purchase; otherwise taxable | Fully taxable; no withholding on the minimum |
| Room after a withdrawal | Lost (except HBP and LLP repayments) | Added back on January 1 of the next year | Not restored | Not applicable |
| Age limits | Must end by December 31 of the year you turn 71 | 18+ (age of majority to open), no upper age | 18+ to 71; maximum 15 years | Mandatory annual minimum after the first year |
| Effect on OAS and income-tested benefits | Withdrawals count as income | Withdrawals do not count | Qualifying withdrawals do not count | Withdrawals count as income |
| US dividends (Canada-US treaty) | Generally exempt from US withholding when US-listed securities are held directly | 15% US withholding, not recoverable | Treatment not confirmed by the IRS; assume withholding | Generally exempt, as for the RRSP |
| CIPF (member firm insolvency) | Registered retirement category, $1 million combined | General accounts category, $1 million combined | General accounts category | Registered retirement category |
| CDIC (eligible deposits) | $100,000 per member, own category | $100,000 per member, own category | $100,000 per member, own category | $100,000 per member, own category |
Limits are the 2026 figures from the CRA's registered plan limits page and FHSA pages; CIPF and CDIC categories are from their own websites. Foreign withholding depends on how the investment is held (directly or through a Canadian-listed fund) and is a matter of US law and the treaty, so confirm with your institution. Check the Canada Revenue Agency, the Canadian Investor Protection Fund and the Canada Deposit Insurance Corporation before acting. This is general information, not financial advice.