RRSP withdrawal withholding tax rates
The tax your financial institution withholds when you take money out of an RRSP, by the size of the withdrawal, as published by the CRA.
Withholding rates for residents of Canada
| Amount withdrawn | Withheld (outside Québec) | Withheld (Québec, federal part) |
|---|---|---|
| Up to $5,000 | 10% | 5% |
| More than $5,000, up to and including $15,000 | 20% | 10% |
| Over $15,000 | 30% | 15% |
For funds held in the province of Quebec, there will also be provincial tax withheld. The CRA page gives no provincial rate: contact your financial institution or Revenu Québec.
Source: CRA: Tax rates on withdrawals (page dated January 29, 2026) official
Non-residents of Canada
For non-residents of Canada, withholding is 25% unless reduced by a treaty (the CRA page refers to Information Circular IC76-12R8).
Withholding is not the final tax
The tax that was withheld may not always be enough to account for the tax you owe at your tax bracket. You may have to pay more tax on the withdrawal when you include it on your income tax and benefit return for that year (the CRA's wording).
The CRA page gives no effective date for these rates, so none is shown.
What changed
- Jan 29, 2026The CRA page is dated this day. It states the three withholding bands, the Québec rates and the 25% rate for non-residents.
The date is the date shown on the CRA page.
Before you rely on this
These are the withholding rates, not the tax you will owe: the amount is added to your income for the year and taxed at your rates. Special withdrawals (such as the Home Buyers' Plan) follow other rules. Confirm with the CRA or a tax professional. General information, not tax advice.