Refund of premiums from an RRSP

A refund of premiums is a payment that is paid or deemed to have been paid from a deceased annuitant’s RRSP to a qualifying survivor. This payment can be included in the income of the qualifying survivor who receives it instead of the income of the deceased annuitant or the annuitant’s estate. The qualifying survivor who receives a refund of premiums can defer paying tax on the amount by transferring it to an eligible plan or fund, or to an issuer to buy an eligible annuity.

A refund of premiums can be transferred directly or indirectly to the RRSP of certain qualified beneficiaries.

Forms and publications

• Form T2019 Death of an RRSP Annuitant - Refund of Premiums
• 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