RPP and DPSP lump-sum payments

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https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/registered-retirement-income-fund-rrif/transferring-your-rrif/rpp-dpsp-lump-payments.html

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RPP and DPSP lump-sum payments

RPP amounts

You can contribute to your RRIF by directly transferring a lump-sum amount from an RPP under which:

  • you are a member, if you are entitled to receive the lump-sum
  • your current or former spouse or common-law partner was the member, if you are entitled to receive the lump-sum because your current or former spouse or common-law partner died
  • your current or former spouse or common-law partner is a member, if you are entitled to receive the lump-sum under the following conditions:
    • under a decree, order or judgment of a competent tribunal, or under a written separation agreement
    • to settle rights arising out of your relationship on or after the breakdown of your relationship

Note


In some cases, the Income Tax Act limits how much can be transferred without tax consequences. For more information, refer to Direct transfer of an RPP lump-sum amount.

DPSP amounts

You will be able to contribute to your RRIF by directly transferring a lump-sum amount from:

  • a DPSP under which you are a beneficiary, or former beneficiary, if you are entitled to receive the lump-sum
  • a DPSP under which your current or former spouse or common-law partner was the beneficiary, or former beneficiary, if you are entitled to receive the lump-sum because your current or former spouse or common-law partner died
  • a DPSP under which your current or former spouse or common-law partner is a beneficiary, or former beneficiary, if you are entitled to receive the lump-sum:
    • under a decree, order, or judgment of a competent tribunal, or under a written separation agreement
    • to settle rights arising out of your relationship on or after the breakdown of your relationship

Note


For exceptions to the direct transfer requirement and other rules, refer to archived Interpretation Bulletin IT-528, Transfers of Funds Between Registered Plans.

Filling out your income tax and benefit return

If you transferred the amount directly, do not claim a deduction for the amount transferred and do not include the payment in income.

However, if you received the lump-sum payment in cash or by cheque before making the transfer, the transfer is not tax-free. Report the payment on line 13000 of your income tax and benefit return on the year the payment is received and do not claim a deduction.

Forms and publications


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Date modified:
2025-02-12