Registered Retirement Income Fund (RRIF)
A registered retirement income fund (RRIF) is an arrangement between you and a carrier (an insurance company, a trust company or a bank) that the CRA has registered. You transfer property to your RRIF carrier from an RRSP, a PRPP, an RPP, an SPP, from another RRIF, or from an FHSA and the carrier makes payments to you.
The minimum amount must be paid to you in the year following the year the RRIF is entered into. Earnings in a RRIF are tax-free and amounts paid out of a RRIF are taxable on receipt.
You can have more than one RRIF and you can have self-directed RRIFs. The rules that apply to self-directed RRIFs are generally the same as those for RRSPs. For more information, refer to Self-directed RRSPs.
Topics
- Setting up a RRIF
- Transferring to your RRIF
Options for transferring from other types of funds, tax implications - Receiving income from a RRIF
Getting and reporting income from a RRIF - Death of a RRIF annuitant
Tax implications when the annuitant of a RRIF dies - Anti-avoidance rules for RRSPs and RRIFs
Anti-avoidance rules are strengthened to prevent aggressive tax planning