Non-registered account

What is a non-registered account?

A non-registered account allows you to continue growing your savings if you’ve already maximized your registered accounts and enjoyed all their tax benefits.

It’s a flexible savings account that, depending on your choice of investment, gives you the option to make deposits or withdrawals at any time.

Ideal if you want to:

Save for a short- or medium-term project because of its flexibility
Save for retirement beyond the contribution limits of your registered accounts
Have surplus money work for you

Good to know

With a non-registered account, you pay tax on the income it generates, but not on withdrawals. To reduce these fees, you can either lower your tax rate or delay when the earnings become taxable.

What are the differences between a registered and non-registered account?

You can invest your money in different types of savings accounts. But what’s the difference between a registered and non-registered account? To help you make the right choice, we’ll break them down for you.

Registered account

Registered plans and accounts offer exclusive tax benefits, the main one being tax-free savings. However, depending on the account (RRSP, TFSA, RESP, FHSA, etc.), certain conditions may apply.

Learn more about registered accounts

Tax advantages
Annual contribution limits
Limited holding period
Withdrawals may be taxable

A non-registered account has no government tax benefits, and the income generated is taxable. However, this type of account offers great investment flexibility.

No contribution limits
No holding limits
Flexible withdrawals
Taxable earnings

Expert advice:

While the flexibility of a non-registered account may be attractive, consider maximizing your TFSA, RRSP, RESP, or FHSA first to take advantage of their tax benefits.

Consult your latest notice of assessment from the Canada Revenue Agency (CRA) to find out what your contribution limits are.

Which non-registered investment option should I choose?

Do you know a thing or two about investing? Select the investment products of your choice, according to your investor profile. Deposit your savings and earn interest.