Tax-paid amount and after-tax amount from a RRIF
The tax-paid amount applies only to depositary and trusteed RRIFs. For the purposes of this page, a tax-paid amount is generally the income earned in a RRIF after the end of the exempt period. It does not qualify as a designated benefit.
Depositary RRIF
For a depositary RRIF, interest or income that accrued after the exempt period will always be a tax-paid amount. It is not a RRIF benefit or a designated benefit.
Trusteed RRIF
For a trusteed RRIF, the income earned or realized after the exempt period that is paid to the beneficiary in the year that it is trust income is an amount for which the trust can claim a deduction. If the deduction is claimed, this amount is a tax-paid amount and a RRIF benefit, but not a designated benefit.
Income earned or realized after the exempt period that is not paid to the beneficiary in the year that it is trust income is not a RRIF benefit. The trustee has to file a T3RET, T3 Trust Income Tax and Information Return, for the trust and pay tax on that income. In such cases, do not report the after-tax amount as income. However, do report it as a tax-paid amount on the T4RIF slip in the year an amount is paid to the beneficiary. This after-tax amount is not a RRIF benefit or a designated benefit. For more information, see Guide T4013, T3 Trust Guide.
Insured RRIF
The tax-paid amount does not apply to an insured RRIF. Therefore, any payment to a qualifying survivor from an insured RRIF is considered a designated benefit, regardless of when it is earned or paid.
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