T4RIF Statement of Income from a Registered Retirement Income Fund

For detailed information on the amounts shown in the boxes of your T4RIF slip, see the corresponding box number below the following image:

T4RIF slip image
T4RIF Statement of income from a registered retirement income fund

Filling out a T4RIF slip

Fill out boxes 16 to 36, as they apply. The amount that you enter in each of the boxes 16 to 24 is the gross amount of the payment, before you deducted tax or made any other deductions.

The costs associated with the redemption of units of a mutual fund are RRIF expenses. If the proceeds of the RRIF are reduced by such redemption fees, the amount to be reported on the T4RIF slip is the net amount paid out of the RRIF.

For administrators who must fill out and issue the T4RIF, you can have more details about a box, or for information on how to fill out T4RIF slips, see “Chapter 3 – How to fill out T4RSP and T4RIF slips” in T4079, T4RSP and T4RIF Guide.

Box 12 – Social insurance number

Enter the recipient’s social insurance number (SIN).

The plan administrator has to make a reasonable effort to get the recipient’s SIN. However, when there is no SIN and they have to apply or have already applied, do not delay filling out the information return beyond the required filing date. If the recipient has not provided a SIN before the information slip filling deadline, nine zeroes will be entered.

For more information, see Failure to provide information on a return.

Box 14 – Contract number

RRIF contract number.

Recipient’s name and address

Enter the last name first, in capital letters, followed by the first name and initials, and then the complete address. Enter the name of only one recipient on each slip.

Year

This is the calendar year of the T4RIF slip. It has to be entered on each individual slip. The year entered must be the same as the year on the summary.

Box 61 – Account number

Enter the account number of the RRIF payer (carrier). The 15-character account number that you use to send us your client's deductions (which appears at the top of your PD7A statement of account) consists of three parts:

  • the nine-digit business number (BN)
  • a two-letter program identifier
  • a four-digit reference number

The account number (box 61) is not printed on the recipient’s copies.

Box 16 – Taxable amounts

Enter the taxable amounts from the RRIF that you paid to a RRIF annuitant or to another beneficiary in the year.

These amounts include the following:

  • The minimum amount payment you have to make in the year and any excess amount you paid to the RRIF annuitant in the year. For information on excess amounts, see box 24.
  • The payments that the spouse or common-law partner continues to receive as the successor annuitant after the first RRIF annuitant died. For more information, see Spouse or common-law partner as successor annuitant.
  • The RRSP property that was transferred to a RRIF, then identified as excess contributions and refunded from the RRIF.
  • The amounts you paid to the deceased RRIF annuitant’s spouse or common-law partner as a designated benefit from a RRIF. For more information on designated benefits, see Qualified beneficiary and designated benefit.

For the taxable amounts shown in box 16 do not include:

  • the amounts directly transferred on breakdown of a marriage or common-law partnership as reported in box 35
  • the amounts considered to have been received by the deceased RRIF annuitant just before death
  • the amounts that the deceased RRIF annuitant’s child or grandchild has received or is considered to have received as a designated benefit from a RRIF
  • the income earned on RRIF property after the year that follows the year of the RRIF annuitant’s death

For more information about tax situations that can arise when an RRIF annuitant dies, see Deceased RRIF annuitant.

Box 18 – Amounts deemed received by the annuitant – Deceased

The deceased annuitant of a RRIF is considered to have received, just before death, an amount equal to the fair market value (FMV) of the RRIF property at the time of death. In certain situations, you may not have to issue a T4RIF slip in the deceased name. Before you enter an amount in box 18, see Beneficiary of the RRIF property.

Box 20 – Amounts deemed received by the annuitant – Deregistration

The terms of a RRIF contract can change after registration, or a new fund can be substituted. If a RRIF changes and no longer satisfies the requirements under which it was registered, the fund is no longer a RRIF. It becomes an amended fund under subsection 146.3(11), and the (FMV) of all property held in the fund just before the revision or substitution is to be included as income of the RRIF annuitant.

Enter the FMV of all property of the fund just before it was revised or substituted. This is the only type of income you should report in box 20.

Box 22 – Other income or deductions

Although a RRIF annuitant has to include certain amounts in income, they can deduct other amounts. Calculate the income and deductions identified below and enter the difference in box 22. If the deductions are greater than the income, enter the difference in brackets.

Include the following amounts in the income of an annuitant of a trusteed RRIF:

  • the (FMV) of the property when it began to be used as security for a loan, if the trustee used any of the trust’s property as security for a loan or allowed any of its property to be used as security for a loan during the year
  • twice the difference between the FMV of a property and its proceeds of disposition, if the trustee disposed of the property during the year and the proceeds of disposition were nil or less than the FMV of the property when the trustee disposed of it
  • twice the difference between the acquisition cost of the property and its FMV, if the trustee acquired the property during the year and its acquisition cost is greater than the FMV of the property when it was acquired

The annuitant of a trusteed RRIF can deduct the following two amounts in calculating income:

  • If the trustee disposed of a property during the year, and it was a non-qualified investment when it was acquired, the annuitant of a trusteed RRIF can deduct the lesser of the following two amounts in calculating income:
    • the FMV of the non-qualified property when it was acquired, if a carrier reported that amount as income of the RRIF annuitant
    • the proceeds of disposition of the non-qualified property
  • If the trustee used any of the property as security for a loan, or allowed any of the property to be used as security for a loan, and the loan is extinguished during the year, the difference between:
    • the amount a carrier previously reported as the RRIF annuitant’s income because the property was used as security for the loan
    • any loss incurred as a result of the property being used as security for the loan. When you calculate such a loss, do not use the interest part of any loan payments the RRIF trust made or any decrease in value of the property used as security for the loan

If the annuitant under a RRIF dies, you may have to include in box 22 part or all of the income earned in the RRIF after the annuitant’s date of death that was paid to another beneficiary. For information on situations that arise when an RRIF annuitant dies, see Beneficiary of the RRIF property.

Enter the amount rolled over from a deceased annuitant’s RRIF that was rolled over to a registered disability savings plan.

For more information, see Information Sheet RC4178, Death of a RRIF Annuitant or a PRPP Member.

Box 24 – Excess amount

The terms of a RRIF contract can allow a payment that is over the minimum amount. Report the excess amount in box 24. For more information see box 16 minimum amount. If a RRIF annuitant chooses to have payments from the RRIF continue to the spouse or common-law partner after the RRIF annuitant’s death, the surviving spouse or common-law partner becomes the successor annuitant.

For more information on how to report the minimum and excess amounts when the RRIF annuitant dies, see Spouse or common-law partner as successor annuitant.

Boxes 26 and 32

A spousal or common-law partner RRIF is a RRIF that received payments or transfers of property from a spousal or common-law partner RRSP. A spousal or common-law partner RRIF also includes a RRIF that received a payment or transfer of property from any of the RRIF annuitant’s other spousal or common-law partner RRIFs. When you transfer property from or between spousal or common-law partner RRSPs and spousal or common-law partner RRIFs, you have to keep track of the property no matter how often it is transferred.

If yes is indicated

For a spousal or common-law partner RRIF, print or type yes “Y” in box 26. Enter the contributor spouse or common-law partner’s social insurance number (SIN) in box 32 if the annuitant is less than 74 years old at the end of 2019 and at least one of the following conditions applies:

If you entered yes in box 26 for a situation other than a direct transfer on breakdown of a marriage or common-law partnership, the RRIF annuitant should fill out Form T2205, Amounts from a Spousal or Common-law Partner RRSP, RRIF or SPP to Include in Income. This will help determine the amount that the annuitant and the contributor have to include in their income. If the annuitant receives only the minimum amount during the year, the payment is the annuitant’s income and not the contributor’s income.

If no is indicated

For all other situations, print or type no “N” in box 26 and leave box 32 blank, unless there is a direct transfer on breakdown of a marriage or common-law partnership, in which case you would enter the SIN of the RRIF annuitant of the transferee plan in box 32.

This includes the following situations:

  • at the time of the payment, the spouses or common-law partners were separated and living apart because of a breakdown of their relationship
  • the contributor spouse or common-law partner died during the year the payer made or is considered to have made the payment
  • at the time of the payment, either the RRIF annuitant or the contributor spouse or common-law partner was a non-resident

Box 28 – Income tax deducted

Enter the amount of income tax you deducted. Leave the box blank if you did not deduct income tax. For more information on withholding rates, see “Chapter 2 – Deducting income tax” in Guide RC4157, Deducting Income Tax on Pension and Other Income, and Filing the T4A Slip and Summary.

You have to withhold tax from the excess amount (amount reported in box 24) if you paid the amount during the lifetime of the RRIF annuitant. Do not withhold income tax from the minimum amount.

Box 30 – Year, Month, Day

Enter the date of death as follows: YY MM DD.

Box 35 – Transfers on breakdown of marriage or common-law partnership

Enter the amount directly transferred under a decree, order, judgment of a court, or under a written agreement relating to a division of property between the individual’s current or former spouse or common-law partner in settlement of rights arising from the breakdown of their relationship. The slip is filled out in the name of the individual whose funds are being transferred (the transferor).

Enter the social insurance number of the RRIF annuitant of the plan receiving the funds (the transferee plan) in box 32No is entered in box 26, unless the transferring plan is a spousal or common-law partner plan.

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, is used to document the details of the transfer.

Review and keep on file the court order or separation agreement if both individuals have not signed the form.

Keep Form T2220 for your records. No copies are sent to the CRA.

Box 36 – Tax-paid amount

When the annuitant dies, report in box 36 the tax-paid amount that you paid to certain beneficiaries from trusteed RRIFs. The legal representative needs this amount to determine the amount to report on the deceased RRIF annuitant’s final tax return.

The tax-paid amount also applies to depositary RRIFs, but do not report it in box 36 since it has to be reported on a T5 slip.

For more information on tax-paid amounts, see Tax-paid amount and after-tax amount

Box 60 – Name of payer (carrier) of fund

This is the full name of the RRSP payer (issuer) who remits the withholding tax to us and whose account number is shown in box 61.

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