Certain lump-sum payments from a foreign retirement arrangement

This is a taxable payment received by an individual from certain United States Individual Retirement Accounts (IRAs) that is not part of a series of periodic payments. This payment came from contributions made by the individual or by the individual’s spouse/common-law partner (or former spouse or common-law partner) to the IRA. The amount that can be transferred is limited to the part of the payment that would have been taxable if the individual had been resident in the U.S. Generally, these lump-sum payments are transferred indirectly to the individual’s RRSP.

Forms and publications

• Form T2030, Direct Transfer Under Subparagraph 60(l)(v)
• Form T2033, Direct Transfer Under Subsection 146.3(14.1), 147.5(21) or 146(21), or Paragraph 146(16)(a) or 146.3(2)(e)
• Form T2220, Transfer from an RRSP, RRIF, PRPP, or SPP to Another RRSP, RRIF, PRPP or SPP on Breakdown of Marriage or Common-law Partnership
• Income Tax Folio S2-F1-C2, Retiring Allowances