Creating RRSP accounts in USD - Solution Found

Kevin Roulston

I previously in some earlier verision of Quicken Classic had created RRSP/LIRA accounts in USD. I was then trying to create new RRSP accounts this month in USD as part of converting my RRSPs into RRIFs and created the new account in USD and when I transferred discovered that Quicken will convert any new RRSP account currency back to Canadian. After several discussions with Quicken about this problem I went back and seached the blog again and found that rickpwilson found that there is a way to do it by first creating a brokerage account in USD and then editing it and setting it to tax deferred. Quicken then asks if you want to convert to an RRSP. This works. I am still hoping that Quicken will change so that the original problem I had does not recur. I also notice several other users have other work arounds however I have progressed my reporting within Quicken to the point that I find it much easier to have the new accounts in USD. There is no intention by Quicken to create a RRIF or LIF account type and that's just fine with me as flagging the transfers out as "T1 General:Other Pensions/Superann." should keep my way of tracking things intact.

Arctic Hare

I would avoid using the "RRSP" account type entirely. It only brings disadvantages and no advantages. Use a "brokerage" account type with the "tax deferred" setting enabled.