Box 26 – Amounts deemed received on deregistration

The terms of an RRSP can change after registration, or a new plan can be substituted for an old plan. If an RRSP changes and no longer satisfies the rules it was registered under, the plan is no longer an RRSP. It becomes an amended plan under subsection 146(12), and the fair market value (FMV) of all property held by the plan just before the revision or substitution becomes taxable.

In this situation, enter in box 26 the FMV of all the property of the plan just before it was revised or substituted. This is the only type of income you report in box 26.

Date modified:

2016-01-14