Subsection 146.3(1)
Annuitant
Administrative Policy
11 July 2016 External T.I. 2015-0592681E5 F - RRIF Death of an annuitant
Where the death of an annuitant under an RRIF is followed very shortly by the death of the surviving spouse, can the income inclusion under s....
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|---|---|---|
| Tax Topics - Income Tax Act - Section 146.3 - Subsection 146.3(6.2) | deduction for transfer to eligible recipient by surviving spouse | 287 |
| Tax Topics - Income Tax Act - Section 60 - Paragraph 60(l) | transfer by eligible recipient of payment out of RRIF | 275 |
| Tax Topics - Income Tax Act - Section 146 - Subsection 146(1) - Refund of Premiums | consequence of death if named as beneficiary in RRSP contract | 169 |
Designated Benefit
Administrative Policy
7 October 2022 APFF Financial Strategies and Instruments Roundtable Q. 8, 2022-0940961C6 F - RRIF - successive deaths
2020-0867001E5 took the position that for an amount to qualify as a "designated benefit" as defined in s. 146.3(1), the eligible survivor must be...
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|---|---|---|
| Tax Topics - Income Tax Act - Section 146.3 - Subsection 146.3(6.2) | s. 146.3(6.2) reduction unavailable where surviving spouse dies before payment made out of deceased's RRIF | 152 |
12 March 2021 External T.I. 2020-0867001E5 - RRIF - successive deaths
The last annuitant of a trusteed registered retirement income fund (“RRIF”) died in 2018, and that annuitant’s spouse, who was the sole...
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| Tax Topics - Income Tax Act - Section 146.3 - Subsection 146(3.1) | appreciation in RRIF between death and payout to estate of surviving spouse two years later was included in that estate’s income | 287 |
6 October 2017 APFF Financial Strategies and Instruments Roundtable Q. 6, 2017-0707791C6 F - RRIF - Successive Deaths
On the death of Mr. A, his Will provided a particular legacy of his RRIF to his surviving spouse (Mrs. B), who died half a year later before his...
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|---|---|---|
| Tax Topics - Income Tax Act - Section 146.3 - Subsection 146.3(6.1) | s. 146.3(6.1) did not apply as the executor did not receive the RRIF legacy | 170 |
6 October 2017 APFF Financial Strategies and Instruments Roundtable Q. 5, 2017-0707801C6 F - RRIF transfers – partition of family patrimony
A couple separated in 2010 without proceeding to an official division of their assets. When Monsieur subsequently died, his will excluded Madame....
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|---|---|---|
| Tax Topics - Income Tax Act - Section 146.3 - Subsection 146.3(14) | amount paid to surviving spouse's RRIF did not qualify under s. 146.3(14) | 167 |
| Tax Topics - Income Tax Act - Section 60 - Paragraph 60(l) | transfer from deceased's RRIF to RRIF of surviving spouse in settlement of claim | 178 |
Paragraph (a)
Administrative Policy
14 November 2006 External T.I. 2006-0201371E5 F - FERR: Legs à une fiducie exclusive au conjoint
Mr. A, who was the last annuitant under his RRIF, Mr. A left his entire estate to a spousal trust for his wife, Ms. A. After Mr. A's death, the...
Minimum Amount
Administrative Policy
11 October 2019 APFF Financial Strategies and Instruments Roundtable Q. 8, 2019-0811901C6 F - RRIF – Minimum amount after death
The deceased, who died in November, bequeathed his RRIF to his surviving spouse, to whom it was transferred in the subsequent year. In
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|---|---|---|
| Tax Topics - Income Tax Act - Section 146.3 - Subsection 146.3(6.11) | deduction of RRIF minimum amount in post-terminal year of transfer out of deceased's RRIF to surviving spouse | 587 |
Retirement Income Fund
Administrative Policy
5 October 2012 Roundtable, 2012-0453161C6 F - RRIF, prohibited investment, minimum amount
Can the amount of the transitional income for a taxation year be the minimum amount that must be paid annually to the annuitant of a RRIF under...
Paragraph 146.3(1)(b.1)
Administrative Policy
14 September 1992 T.I. (Tax Window, No. 24, p. 19 ¶2214)
It is the responsibility of the trustees of the plan to determine the fair market value of plan assets. Where the fair market value of a mortgage...
8 February 1990 T.I. (July 1990 Access Letter, ¶1339)
In determining the number of whole years, one should consider only completed years and disregard fractions of years. In light of s. 30 of the...
15 December 1989 T.I. (May 1990 Access Letter, ¶1234)
A spouse who acquires the right to amounts payable under the RRIF of an annuitant can change the number of years on which the minimum amount is...
Subsection 146.3(2) - Acceptance of fund for registration
Administrative Policy
3 October 1996 External T.I. 9628565 - RRSP ADMINISTRATION & INVESTMENT MANAGEMENT FEES
Payment by an annuitant of the fees charged for the management of property of an RRIF would be prohibited by s. 146.3(2)(f) and would result in an...
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|---|---|---|
| Tax Topics - Income Tax Act - Section 146 - Subsection 146(1) - Premium | annuitant's payment of management fees was a contribution | 35 |
| Tax Topics - Income Tax Act - Section 146 - Subsection 146(8) | 28 |
Paragraph 146.3(2)(e)
Administrative Policy
10 January 1996 External T.I. 9527665 - IRREVOCABLE BENEFICIARY UNDER INSURED RRIF
In response to a query as to whether a RRIF could be established to name the spouse as successor annuitant, and children the irrevocable...
Paragraph 146.3(2)(f)
Administrative Policy
23 January 2004 Internal T.I. 2003-0051931I7 - Damages Paid to RPP and RRSP
Damages in respect of breach of contract or a tort paid by an employer to compensate for investment losses caused by the employer as administrator...
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|---|---|---|
| Tax Topics - Income Tax Act - Section 6 - Subsection 6(1) - Paragraph 6(1)(a) | 73 |
Subsection 146.3(3) - No tax while trust governed by fund
Paragraph 146.3(3)(c)
Administrative Policy
31 January 2007 External T.I. 2006-0213111E5 - RRIF TRUST - CARRYING ON A BUSINESS
After stating that "it is our general view that any undertaking or activity of a taxpayer that is carried on for profit or with a reasonable...
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|---|---|---|
| Tax Topics - Income Tax Act - Section 248 - Subsection 248(1) - Business | securities lending for a fee likely would be a business | 69 |
Subsection 146(3.1)
Administrative Policy
12 March 2021 External T.I. 2020-0867001E5 - RRIF - successive deaths
The last annuitant of a trusteed registered retirement income fund (“RRIF”) died in 2018, and that annuitant’s spouse, who was the sole...
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|---|---|---|
| Tax Topics - Income Tax Act - Section 146.3 - Subsection 146.3(1) - Designated Benefit | full FMV of a RRIF included in the annuitant’s income on death given no payment thereunder to the spousal beneficiary before that survivor’s death | 239 |
Subsection 146.3(4) - Disposition or acquisition of property by trust
Cases
St. Arnaud v. Canada, 2013 DTC 5074 [at 5909], 2013 FCA 88
The taxpayers were fraudulently induced to purchase worthless securities with their RRSP funds. Webb JA found that s. 146(9) did not apply to...
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|---|---|---|
| Tax Topics - Income Tax Act - Section 146 - Subsection 146(9) | 324 | |
| Tax Topics - Statutory Interpretation - Ordinary Meaning | context always considered | 76 |
Subsection 146.3(6) - Where last annuitant dies
Administrative Policy
11 October 2019 APFF Financial Strategies and Instruments Roundtable Q. 9, 2019-0813281C6 F - Pension splitting - RRIF deemed benefit
Under s. 146.3(6), the last annuitant under a RRIF is deemed, upon death, to have received, immediately before death, an amount out of or under a...
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|---|---|---|
| Tax Topics - Income Tax Act - Section 118 - Subsection 118(7) - Pension Income - Paragraph (a) - Subparagraph (a)(iii) | deemed payment on death of last RRIF annuitant is not pension income | 215 |
8 October 2010 Roundtable, 2010-0371951C6 F - Transfert d'un REER ou d'un FERR au décès
When Monsieur died in July 2010, his surviving wife (Madame) had a RRIF of $10,000. Monsieur had never had an RRSP or RRIF. Does s. 248(23.1)(b)...
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|---|---|---|
| Tax Topics - Income Tax Act - Section 248 - Subsection 248(23.1) - Paragraph 248(23.1)(b) | s. 248(23.1)(b) does not allow the annuitant to share with the annuitant’s deceased spouse | 212 |
7 March 1990 T.I. (August 1990 Access Letter, ¶1387)
Where the surviving spouse is not named as beneficiary in either the RRIF application or the will but is the sole beneficiary of the will, the...
Subsection 146.3(6.1)
Administrative Policy
7 October 2020 APFF Financial Strategies and Instruments Roundtable Q. 4, 2020-0851621C6 F - RRSP or RRIF on death – Joint election
Where a RRIF is the subject of a specific bequest made to the deceased annuitant's spouse under a Quebec will and the RRIF proceeds are...
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|---|---|---|
| Tax Topics - Income Tax Act - Section 146 - Subsection 146(8.1) | a specific bequest of a RRSP proceeds to a surviving spouse cannot be treated as a refund of premiums | 547 |
11 October 2019 APFF Financial Strategies and Instruments Roundtable Q. 12, 2019-0815181C6 F - RRSP on death and refund of premiums
The deceased died with an RRSP valued at $250,000. Later in the year, when the RRSP had appreciated to $255,000, the property in the RRSP was...
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|---|---|---|
| Tax Topics - Income Tax Act - Section 146 - Subsection 146(8.1) | post-death appreciation in an RRSP could qualify for a s. 146(8.1) rollover | 497 |
6 October 2017 APFF Financial Strategies and Instruments Roundtable Q. 6, 2017-0707791C6 F - RRIF - Successive Deaths
On the death of Mr. A, his Will provided a particular legacy of his RRIF to his surviving spouse (Mrs. B), who died half a year later before his...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 146.3 - Subsection 146.3(1) - Designated Benefit | death of the surviving spouse before she received payment of the testator’s legacy of his RRIF precluded access to the designated benefit rules | 484 |
11 October 2013 Roundtable, 2013-0495281C6 F - Question 9 - APFF Round Table
Does the position in 2002-0141355 - that an RRSP can be transferred to the RRSP of a surviving non-resident spouse, who can open an RRSP, even if...
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|---|---|---|
| Tax Topics - Income Tax Act - Section 212 - Subsection 212(1) - Paragraph 212(1)(l) | transfer to RRSP or RRIF of surviving non-resident spouse: SIN required; payment can be made directly to RRSP/RRIF of surviving spouse in accordance with joint instructions even where no specific non-will designation is made | 542 |
| Tax Topics - Income Tax Act - Section 146 - Subsection 146(8.1) | deemed receipt of refund of premiums for amount paid to executor, with deemed benefit to recipient spouse | 275 |
| Tax Topics - Income Tax Act - Section 212 - Subsection 212(1) - Paragraph 212(1)(q) | direct transfer to RRIF of surviving non-resident spouse | 297 |
23 December 2002 Internal T.I. 2002-0176087 F - LIMITE APPLICABLE TRANSFER DANS REER
All the funds in the RRIF of the deceased annuitant were transferred for the benefit of the financially dependent child of the deceased so that,...
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|---|---|---|
| Tax Topics - Income Tax Act - Section 146.3 - Subsection 146.3(6.11) - Paragraph 146.3(6.11)(b) - Variable C | Variable C included the deemed benefit under s. 146.3(6.1) | 203 |
Subsection 146.3(6.11)
Administrative Policy
11 October 2019 APFF Financial Strategies and Instruments Roundtable Q. 8, 2019-0811901C6 F - RRIF – Minimum amount after death
Monsieur, who died in November, bequeathed all his RRIF to his surviving spouse. In 2016-0651711C6 F, CRA indicated that even if Monsieur had...
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|---|---|---|
| Tax Topics - Income Tax Act - Section 146.3 - Subsection 146.3(1) - Minimum Amount | required recognition of RRIF minimum amount in post-terminal year of transfer of RRIF to surviving spouse | 217 |
7 October 2016 APFF Financial Strategies and Instruments Roundtable Q. 2, 2016-0651711C6 F - RRIF, Transfer of designated benefit
At Mr. X’s death in November 2015, he held a registered retirement income fund (RRIF) with a fair market value (FMV) of $140,000, which stayed...
Paragraph 146.3(6.11)(b)
Variable C
Administrative Policy
23 December 2002 Internal T.I. 2002-0176087 F - LIMITE APPLICABLE TRANSFER DANS REER
Following the death of the annuitant of a RRIF, all the plan funds were transferred to the estate (which was named in the will as the beneficiary)...
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|---|---|---|
| Tax Topics - Income Tax Act - Section 146.3 - Subsection 146.3(6.1) | deemed benefit under s. 146.3(6.1) included in amount referred to in s. 146.3(5) | 113 |
Subsection 146.3(6.2)
Administrative Policy
7 October 2022 APFF Financial Strategies and Instruments Roundtable Q. 8, 2022-0940961C6 F - RRIF - successive deaths
When asked to explain its position that s. 146.3(6.2) cannot operate to exclude value of a deceased’s RRIF from his income and include that...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 146.3 - Subsection 146.3(1) - Designated Benefit | spouse of a deceased RRIF annuitant must be still alive at the time of a payment out of the RRIF in order for the designated benefit rules to apply | 316 |
8 April 2020 External T.I. 2016-0668991E5 F - Death of RRSP or RRIF annuitant
Is the deduction provided under s. 146.3(6.2) discretionary when the surviving spouse is named sole beneficiary in an unmatured RRIF contract?...
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|---|---|---|
| Tax Topics - Income Tax Act - Section 146 - Subsection 146(8.9) | discretionary s. 146(8.9) deduction is available even where no timely issuance of T4RSP, but no deduction where annuitant with surviving spouse dies after the maturity of the RRSP | 220 |
| Tax Topics - Income Tax Regulations - Regulation 214 - Subsection 214(4) | T4RSP issued to surviving spouse rather than to deceased where transfer of entire refund of premiums to surviving spouse’s RRSP and RRSP is fully distributed | 268 |
| Tax Topics - Income Tax Regulations - Regulation 215 - Subsection 215(4) | T4RIF issued to surviving spouse rather than to deceased where transfer of entire eligible amount to surviving spouse’s RRSP or RRIF, and RRIF is fully distributed | 268 |
| Tax Topics - Income Tax Regulations - Regulation 205 - Subsection 205(1) | issuer required to issue T4RSP or T4RIF within a reasonable time after notification of death received after February filing date | 116 |
11 July 2016 External T.I. 2015-0592681E5 F - RRIF Death of an annuitant
Where the death of an annuitant under an RRIF is followed very shortly by the death of the surviving spouse, CRA accepts that the (briefly)...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 146.3 - Subsection 146.3(1) - Annuitant | surviving spouse who has been predesignated can qualify as an RRIF annuitant even if he or she does not receive any annuity payments | 251 |
| Tax Topics - Income Tax Act - Section 60 - Paragraph 60(l) | transfer by eligible recipient of payment out of RRIF | 275 |
| Tax Topics - Income Tax Act - Section 146 - Subsection 146(1) - Refund of Premiums | consequence of death if named as beneficiary in RRSP contract | 169 |
Subsection 146.3(11) - Change in fund after registration
Administrative Policy
3 October 1996 External T.I. 9631565 - FEES FOR RRSP & RPP
Expenses relating to the administration or management of the property in an RRIF will result in an income inclusion to the annuitant pursuant to...
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|---|---|---|
| Tax Topics - Income Tax Act - Section 146 - Subsection 146(5) | 22 |
Subsection 146.3(14)
Administrative Policy
6 October 2017 APFF Financial Strategies and Instruments Roundtable Q. 5, 2017-0707801C6 F - RRIF transfers – partition of family patrimony
A couple separated in 2010 without proceeding to an official division of their assets. When Monsieur subsequently died, his will excluded Madame....
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 146.3 - Subsection 146.3(1) - Designated Benefit | payment from a deceased’s RRIF to the RRIF of the surviving spouse who was excluded under the will qualified as designated benefit | 353 |
| Tax Topics - Income Tax Act - Section 60 - Paragraph 60(l) | transfer from deceased's RRIF to RRIF of surviving spouse in settlement of claim | 178 |
6 October 2017 APFF Financial Strategies and Instruments Roundtable Q. 1, 2017-0705221C6 F - Property transfers - common law partners in Québec
CRA considered that, although there is no right in Quebec arising out of a common-law partnership (as per Éric v. Lola, 2013 SCC 5), it...
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|---|---|---|
| Tax Topics - Income Tax Act - Section 146 - Subsection 146(16) - Paragraph 146(16)(b) | a common-law partners’ separation agreement can engage s. 146(16)(b) or 146.3(14) rollover even if technically they have no legal rights to settle | 284 |
| Tax Topics - Income Tax Act - Section 73 - Subsection 73(1.01) - Paragraph 73(1.01)(b) | rollover under common-law partners' separation agreement irrespective of whether technically they have separation rights to settle | 146 |