Please note that the following document, although believed to be correct at the time of issue, may not represent the current position of the CRA.
Prenez note que ce document, bien qu'exact au moment émis, peut ne pas représenter la position actuelle de l'ARC.
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Dear Sir:
RE: Registered Retirement Income Fund (RRIF)
This is in reply to your letter of September 9, 1993, in which you ask whether the "minimum amount" under a RRIF may be paid in a form other than cash.
We reviewed the definitions of "minimum amount" in paragraph 146.3(1)(b.1), "retirement income fund" in paragraph 146.3(1)(f) and "amount" in subsection 248(1), the registration requirements contained in subsection 146.3(2), and the income inclusion rules in subsections 146.3(5), (5.1), and (5.4) of the Income Tax Act. In our view, there is nothing contained in these provisions that would prohibit the payment-in-kind of the "minimum amount" under a RRIF.
Although the foregoing comments are an expression of opinion only and not binding on the Department, we trust they are helpful.
Yours truly,
for DirectorFinancial Industries DivisionRulings Directorate
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© Her Majesty the Queen in Right of Canada, 1993
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© Sa Majesté la Reine du Chef du Canada, 1993
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