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.

All labels observed (1)

Label Occurrences
RRIF canonical 1

How this entity was disambiguated

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 ⓘ
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 ⓘ
mustCollapseRRSPByAge 71 ⓘ
ownerMustBeIndividual true ⓘ
predecessorAccountType RRSP ⓘ
purpose Convert registered retirement savings into income ⓘ
Provide taxable retirement income ⓘ
regulator Canada Revenue Agency ⓘ
relatedPlanType LIF ⓘ
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 ⓘ
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 ⓘ

How these facts were elicited

Referenced by (1)

Full triples — surface form annotated when it differs from this entity's canonical label.