Amounts paid from an RRSP or RRIF upon the death of an annuitant

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Amounts paid from an RRSP or RRIF upon the death of an annuitant

You can contribute to your RRIF any amounts you receive or are considered to have received from a deceased annuitant's or member's RRSP, PRPP or SPP in the following situations:

  • The annuitant or member under an RRSP, a PRPP or SPP dies and, at the time of death, you were the deceased annuitant's or member's spouse or common-law partner.
  • You were a financially dependent child or grandchild of the deceased annuitant or member who depended on the annuitant or member because of an impairment in the physical or mental functions. If this is the case, you may be able to transfer the amount even if the deceased annuitant or member had a spouse or common-law partner at the time of death.

Note

You can rollover the proceeds of a deceased annuitant's or member's RRIF, RRSP, RPP, SPP or PRPP to the registered disability savings plan of a financially dependent infirm child or grandchild.

If you were financially dependent, but not because of a mental or physical impairment, the funds can only be transferred to a term annuity.

Amounts received as a refund of premiums can be transferred directly or indirectly to your RRSP, RRIF, SPP, PRPP or to buy yourself an eligible annuity if you were a qualified beneficiary of the deceased annuitant.

Note

To determine if the amounts received qualify as a refund of premiums, see Death of an RRSP annuitant.

To transfer a refund of premiums to an RRSP, the qualified beneficiary must be 71 years old or younger at the end of the year the transfer is made.

The transfer or purchase has to be completed in the year the refund of premiums is received or within 60 days after the end of the year.

For more information, see Information Sheet RC4177, Death of an RRSP Annuitant or a PRPP Member, or Form T2019, Death of an RRSP Annuitant – Refund of Premiums or Joint Designation on the death of a PRPP Member.

Completing your income tax and benefit return

The issuer who receives the transferred funds will issue a receipt to the qualified beneficiary. The beneficiary can use the receipt to claim a deduction on his or her income tax and benefit return for the year the refund of premiums was received.

Funds received from an RRSP

  • If these funds were transferred to an RRSP, fill out Schedule 7, RRSP and PRPP Unused Contributions, Transfers, and HBP or LLP Activities. Report the amount on line 240 and submit Schedule 7 with your return. Include the income on line 129 and claim the deduction on line 208 of your return.
  • If these funds were transferred to a RRIF or an annuity, include the income on line 129 and claim the deduction on line 232 of your return.

Funds received from a RRIF

If you received these funds due to the death of your spouse or common-law partner, or if you were 65 or older on December 31 of the tax year in which you received the funds, report these funds on line 115 of your return.

If you received these funds for a reason other than due to the death of your spouse or common-law partner, or if you were not 65 or older on December 31 of the tax year in which you received the funds, report these funds on line 130 of your return.

Forms and publications

Date modified:
2016-11-09