Box 24 – Excess amount

The terms of a RRIF contract can allow a payment that is over the minimum amount (for more information on the minimum amount, see Minimum amount from a RRIF). Report the excess amount in box 24. You must also report this excess amount in box 16 plus the minimum amount. If an annuitant chooses to have payments from the RRIF continue to the spouse or common-law partner after the annuitant's death, the surviving spouse or common-law partner becomes the successor annuitant. For more information on how to report the minimum and excess amounts when the annuitant dies, see Spouse or common-law partner as successor annuitant.

Date modified:

2016-01-14