RRIF
E560631
A RRIF (Registered Retirement Income Fund) is a Canadian government-registered account designed to convert retirement savings into a steady stream of taxable retirement income.
Statements (47)
| Predicate | Object |
|---|---|
| instanceOf |
Canadian retirement income vehicle
ⓘ
Registered Retirement Income Fund ⓘ |
| allowsSpousalPlan | true ⓘ |
| canBeConvertedFrom | Locked-in retirement account (to LIF variant) ⓘ |
| canBeCreatedByConvertingRRSPByAge | 71 ⓘ |
| canBeOpenedFromRRSP | true ⓘ |
| canHoldForeignInvestments | true ⓘ |
| canNameBeneficiary | true ⓘ |
| canNameSuccessorAnnuitant | true ⓘ |
| canReceiveNewContributions | false ⓘ |
| country | Canada ⓘ |
| currencyOfTaxReporting | Canadian dollar NERFINISHED ⓘ |
| estateImplicationIfNoBeneficiary | Value included in deceased’s estate for tax purposes ⓘ |
| governingLegislationLevel | Federal tax law ⓘ |
| hasMaximumWithdrawalRequirement | false ⓘ |
| hasMinimumWithdrawalRequirement | true ⓘ |
| incomeSplittingPossibleWithSpouse | true ⓘ |
| investmentTypesAllowed |
Bonds
ⓘ
Cash ⓘ ETFs ⓘ GICs ⓘ Mutual funds ⓘ Stocks ⓘ |
| isCreditorProtected | Sometimes, subject to provincial law ⓘ |
| isGovernmentRegistered | true ⓘ |
| isRegisteredPlan | true ⓘ |
| isTaxAdvantaged | true ⓘ |
| isTransferableOnDeath | true ⓘ |
| legalCurrency | Canadian dollar NERFINISHED ⓘ |
| mustCollapseRRSPByAge | 71 ⓘ |
| ownerMustBeIndividual | true ⓘ |
| predecessorAccountType | RRSP ⓘ |
| purpose |
Convert registered retirement savings into income
ⓘ
Provide taxable retirement income ⓘ |
| regulator | Canada Revenue Agency NERFINISHED ⓘ |
| relatedPlanType |
LIF
NERFINISHED
ⓘ
LRIF ⓘ PRIF ⓘ |
| taxTreatmentOfGrowth | Tax-deferred while inside the plan ⓘ |
| taxTreatmentOfWithdrawals | Fully taxable as ordinary income ⓘ |
| typicalFundingSource |
Deferred Profit Sharing Plan transfer
ⓘ
Registered Retirement Savings Plan NERFINISHED ⓘ Registered pension plan lump sum transfer ⓘ |
| withdrawalFrequency | At least annually ⓘ |
| withdrawalStartAgeRequirement | By end of year following RRIF establishment ⓘ |
| withholdingTaxAppliesToWithdrawals | true ⓘ |
| withholdingTaxBasis | Amount of withdrawal above minimum ⓘ |
Referenced by (1)
Full triples — surface form annotated when it differs from this entity's canonical label.