Say you had $27,000 in a self-directed RRSP at CIBC Investor’s Edge last August and it has now dropped in value to $23,000. That means this August 15, when CIBC Investor’s Edge levies its annual administration fee on self-directed RRSPs below $25,000, you will likely be charged $100. If the plan has only been under the minimum for a month or so, CIBC may overlook it. Not so if it’s been longer.

With the bear market of the past year, many people may have slipped below RRSP thresholds for admin fees. If they have contribution room, they could try topping up their RRSP before the date of record (which varies – e.g. RBC Direct was in June, I believe). They might still see a debit for an administration fee in their account but in the case of CIBC Investor’s Edge, they can call in to have it reversed, so I’m told by a representative. Chances are good the request will be granted, although it’s not assured.