I am a new business owner and would like to leverage my RRSP+. Is it possible?

You may be eligible to redeem part of your RRSP+ to maintain or create employment in your new business.

In keeping with its mission to maintain and create jobs, the Fonds de solidarité FTQ lets you redeem part of your savings if you have set up or or acquired a new business. Note that you have one year from the date on which the business was founded or acquired to submit your redemption request under this criterion.

Requirements:

The shareholder must show that the business is duly constituted

AND

must show that they are the owner of the business (alone or with others) and that they participate in the decision‑making process

AND

must show that the injection of capital will create or maintain at least one full-time permanent job

AND

must show that the business is a going concern and not a seasonal business, unless the business operates several seasonal activities throughout the year.

Documents required:

The Fonds de solidarité FTQ form

AND

a declaration of registration or certificate of incorporation

AND

proof of creation or retention of a full-time permanent job

If the job created or maintained is the shareholder’s, provide one of the following:

  • employment record or letter from the employer confirming the end of an employment at which the shareholder worked full-time
  • recent proof of the termination of employment insurance benefits
  • proof of the end of a contract under which the shareholder worked full-time
  • proof of admission into a government program

If the job created or maintained is not the shareholder’s, provide one of the following:

  • monthly remittances to the Québec and federal governments
  • pay slips showing a full-time permanent job
AND

proof that the business is a going concern.

For a new business in operation for less than a year

  • recent invoices from suppliers and customers after the business was registered
  • GST and QST numbers
  • a commercial lease or operating permit (if applicable)

For a business already in operation acquired less than a year ago:

  • a notarized deed of sale
  • a purchase contract.

Eligible shares:

All shares held for at least two years.

Subsequent share acquisition:

Two years after purchase by the Fonds de solidarité FTQ.

Disbursement terms and conditions:

A single payment of a net value of $30,000 or a lesser amount if the analysis conducted by the Fonds de solidarité FTQ shows a financial need less than $30,000.

The shareholder can only invoke this criterion once.

Do you have a more questions?

Our agents will be pleased to answer any questions you may have at:

1 800 567-3663
Legal Notes

Please read the prospectus before buying Fonds de solidarité FTQ shares. Copies of the prospectus may be obtained on the fondsftq.com website, from a local representative or at the offices of the Fonds de solidarité FTQ. The shares of the Fonds de solidarité FTQ are not guaranteed, their value changes and past performance may not be repeated.
Prospectus En ( 883 Kb )