I'm dealing with the Luddites at CIBC who require you to visit your local branch to set up a TFSA.

Their Investors Edge ( trading ) Dept. seem totally clueless on this so far but I'll talk to them again tomorrow. Hopefully someone sent them a memo.

Some of the banks do have internet applications set up (eg. TD) but don't know about Scotia. CIBC will be ready Jan 9th, they say.

What I'm trying to do is use $10,000 of the cash I have to withdraw from my RRIF this year to set up two TFSA's. Except I want to transfer equities, not cash.

Maybe the fact that I have to withdraw the RRIF funds by Dec 31/08 and TFSA's don't legally exist before Jan 2/09 is causing the grief. Converting my beaten up equities, in the RRIF, to cash does not generate a 'tax loss', so I'd prefer to go with a straight transfer ( no broker fees).

Add to this mix the fact that the Right Honourable (I jest) Mr. Flaherty is now proposing a 25% reduction in the minimum RRIF withdrawal and the fact that he's gone underground until the end of January, there is, to say the least, a little confusion in the ranks.

My blood pressure went up again just writing this. As you can gather, I'm totally PEED off with our politicos, banks, Wall St. and Bay St. in general. Picking winners like MTO seems simple by comparison.

As always, if anyone has any enlightenment on this 'bouillabaisse', I'm all ears.