Spouse or common-law partner as successor annuitant
An annuitant can choose to have the RRIF payments continue to their spouse or common-law partner after death. If the terms of the RRIF contract or the deceased annuitant's will name the spouse or common-law partner as the successor annuitant, the spouse or common-law partner becomes the annuitant of the RRIF.
If the deceased annuitant does not name the spouse or common-law partner as the successor annuitant in the RRIF contract or in a will, the surviving spouse or common-law partner can still become the successor annuitant. If the deceased's legal representative consents and the RRIF carrier agrees, the RRIF carrier can continue to make payments under the RRIF to the surviving spouse or common-law partner as the successor annuitant.
If you learn that the deceased annuitant's will names the surviving spouse or common-law partner as the successor annuitant, ask for a copy of the will or that part of the will that names the surviving spouse or common-law partner as the successor annuitant.
Income paid to the original annuitant
If you paid part of the minimum amount for the year to the original annuitant, enter that amount in box 16 of the T4RIF slip you issued to the deceased annuitant. If you also paid an excess amount to the original annuitant, enter that amount in box 16 and box 24 of the same slip.
Income paid to the successor
If you paid part of the minimum amount for the year to the spouse or common-law partner as the successor annuitant, enter that amount in box 16 of the T4RIF slip that you issue to the successor annuitant. If you also paid an excess amount to the successor annuitant, enter that amount in box 16 and box 24 of the same slip.
Example
At the time of death, only $4,000 of the minimum payment required for the year was paid to the original annuitant. The successor annuitant (surviving spouse or common-law partner) received the rest of the minimum payment ($3,000) and an excess amount of $1,500.
T4RIF slip for original annuitant:
Box 16 = $4,000
Box 24 is blank
T4RIF slip for surviving spouse or common-law partner:
Box 16 = $4,500
Box 24 = $1,500
Box 28 = $ 150
Note
If there is no successor annuitant and you did not pay all or part of the minimum amount before the death of the annuitant, you do not have to issue a T4RIF slip for the minimum amount. The minimum amount will be either:
- included in the fair market value (FMV) amount to be reported by the deceased annuitant
- where the spouse or common-law partner is named as beneficiary of the RRIF, included in the amount to be reported to the spouse or common-law partner
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