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Form T2033 used to be the prescribed form for direct transfers of RRSP and RRIF. That's no longer the case.

Financial institutions can now use a custom form they create that has similar content. Some have a different form for TFSA direct transfers. Scotia iTRADE created one form for direct transfers of TFSA, RRSP, and RRIF accounts.

The $50 is not a penalty. It is the service fee for the direct transfer. Scotia iTRADE charges $150.