How to Make a RRSP Contribution Quickly and Easily Using ING Direct

If you already bank with ING Direct now Tangerine.ca like we do, you can make a RRSP contribution in under two minutes, including getting your RRSP contribution slip for your income taxes. We used to make contributions at our “Big 5” bank when we were younger. Even though they were fairly quick about it, we still usually had to spend an entire lunch break getting it done. The first time we made a RRSP contribution online with Tangerine ING, I couldn’t believe how quickly and easily we got the job done.

UPDATE: Please be aware that as of January 2015,

Tangerine has started charging a fee if you transfer your RRSP or TFSA from Tangerine to another bank, credit union, brokerage or financial institution.


As of the time this was written, in October 2013, ING Direct Tangerine does not charge any fee to transfer all or part of a RRSP to another institution. (Please see: Does It Cost Anything to Transfer Part of my Tangerine RRSP to Another Institution? (You can’t transfer a GIC, though, until it matures.) So we often make our initial contribution to our RSP Investment Savings Account at Tangerine, and then transfer it elsewhere at our leisure.

(Sometimes we just keep it at Tangerine and buy a RSP GIC if they are offering a great rate. Keep an eye out on unusual days like “Cyber Monday” and “Black Friday” if you’re interested in unusual GIC rates.)

Making a Contribution to a RSP Investment Savings Account at Tangerine

Before starting this procedure, check to make sure you still have room to contribute to your RRSP. Remember you’ll have to pay a ridiculous level of tax on any over-contributions.

  • Log in to your Tangerine.ca account.

If You Already Have a RSP Investment Savings Account at Tangerine

  1. From the links on the left side of the screen, click on Move My Money
  2. In the Amount ($): field, type the amount you want to contribute.
  3. From the From: drop-down list choose the account from which you want to fund the RSP Investment Savings Account.
  4. From the To: drop-down list, choose your RSP Investment Savings Account.
    A message will be displayed reminding you to check your available contribution room.
  5. In the When: section, select the radio button beside
    • Now
    • Later; or
    • Ongoing

    I selected Now.

  6. Click on the Go button.
  7. Review the details. If they look ok, click on the Go button.

You’re done!

Copy the confirmation number and information and paste it into a document to save until you’re sure the transaction went through properly.

If You Don’t Already Have a RSP Investment Savings Account

  1. Click on the tab at the top of the screen called Savings.
  2. In the RSP Investment Savings Account section, click on the Open Account button.
  3. Review your name, address, date of birth and social insurance number.
  4. If they are correct, in the Amount: field, type the amount of money you want to contribute to your RRSP.
  5. If desired, type a Nickname for the account. (For example you could type: 2013 first contribution)
  6. In the Fund from this Account: section, from the drop-down list select from which account to take the money.
  7. In the Effective Date field, review the date and change it if needed.
  8. Answer the anti money-laundering and registration questions.
  9. Click on the Next button.
  10. Review all of the information. If it’s correct, to set up and fund the RSP Investment Savings Account, click on the Go button.

You’re done!

Copy the confirmation number and information and paste it into a document to save until you’re sure the transaction went through properly.

To Print Your RRSP Contribution Receipt for your Taxes

Oh crumbs. I forgot that you can’t print the 2013 contribution receipts until January 2014. I’ll have to wait. However, here’s how you would do it then:

  1. From the list of links on the left side of the screen click on the My Documents link.
  2. Click on Tax Receipts.
  3. From the drop-down list, select the year you made the contribution.
    For example, select 2013. (once you can!)
  4. Look for your name under the RSP – RRSP contributions section.
    • If you made the contribution in 2013 after February, it will say (Balance of Year).
    • If you made the contribution before March, it will say (First 60 days)

    Click on your name to open the receipt.

  5. Click to select Open with Adobe Reader, then click OK.
  6. Click on the Printer icon to print your income tax receipt.
  7. Close the document.

If You Have Finished Banking with Tangerine

  • Click on the Log me out link.
    For added security, close your browser session.

Imagine No Lining Up Till Midnight at Your Bank to Make a RRSP Contribution!

The best part about this fast, simple way to contribute is that if you suddenly realize you have a bit more money you can contribute and it’s the last contribution day, usually February 28, you can login and be done in minutes! No more walking to the bank through a snowstorm and waiting in line!

UPDATE: Please be aware that as of January 2015, Tangerine plans to start charging a fee if you transfer your RRSP or TFSA from Tangerine to another bank, credit union, brokerage or financial institution.


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Do you ever use Tangerine as a quick way to make a contribution that you then take the time to move to its final well-planned resting place later? Please share your experiences with a comment.

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Yes, we bank with Tangerine.ca among other places. If you open your first account ever with Tangerine (or ING Direct) using our Orange Key below, and deposit $100 before January 31, 2017, you and we will both get a cash bonus of $50 each. (Yes, they did extend the promotion for another few months!) All you have to do is enter the Orange Key 46470587S1 when you are opening your Account, and you’re set to go.

Just copy our Orange Key, then click on this Tangerine link to see the details and apply for an account. (Note: it only applies to people with no existing or previous accounts with Tangerine or ING Direct.)
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