Line 41800 – Special taxes

Additional tax on RESP accumulated income payments

An accumulated income payment (AIP) is a payment from your registered education savings plan (RESP) that is not:

AIPs are shown in box 040 of your T4A, Statement of Pension, Retirement, Annuity and Other Income slips. Include the total of all AIPs on line 13000 of your income tax and benefit return. There is an additional tax on this amount.

However, the amount may be lowered or reduced to zero if all of the following conditions are met:

  • you are the original subscriber or the spouse or common-law partner of a deceased original subscriber (if there is no other subscriber)
  • you contribute, or the promoter transfers all or part of the AIPs, to your RRSP, PRPP or SPP or your spouse or common-law partner's RRSP or SPP in the year the AIPs are received or in the first 60 days of the following year
  • you deduct all of the RRSP, PRPP or SPP contribution on your tax return in the year the payments were received

If you received an AIP from a registered education savings plan (RESP) in 2021, you may have to pay an additional tax on all or part of the amount shown in box 040 of your T4A slips. Complete Form T1172, Additional Tax on Accumulated Income Payments from RESPs to calculate the additional tax. For more information, see Guide RC4092, Registered Education Savings Plans (RESPs).

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