I would like to invest is a private company using money from my LIRA (locked in retirement account).

I know this is allowed, similar to holding private mortgages under these accounts, but how do I actually go about doing this? How do I get the actual money in that account into the hands of the company to buy the stock certificates and hold them designated as if they are under that LIRA?


1 Answer 1


It may be possible to hold private company shares within an RRSP, assuming you are not related to that company per the definition shown here https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/rrsps-related-plans/definitions-rrsps.html#prohibited.

[In short, you can't own 10% or more of the company, either directly or indirectly - the most common type of share that might be possible to do this with, then, would be if you had shares through employment of a private company; if it's your own company or similar this won't be possible.]

However, LIRA legislation is actually pension legislation [dictated provincially], not tax legislation [for the most part dictated federally]. What you can do with LIRA funds is going to depend on the province you are in.

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