RPP and DPSP lump-sum payments

RPP amounts

You can contribute to your RRIF by directly transferring a lump-sum amount from an RPP under which:

Note 

In some cases, the Income Tax Act limits how much can be transferred without tax consequences. For more information, see Excess amounts from a RRIF.

DPSP amounts

You can contribute to your RRIF by directly transferring a lump-sum amount from:

Note 

For exceptions to the direct transfer requirement and other rules, see Interpretation Bulletin IT-528, Transfers of Funds Between Registered Plans.

Filling out your income tax and benefit return

If you transferred the amount directly, do not claim a deduction for the amount transferred and do not include the payment in income.

However, if you received the lump-sum payment in cash or by cheque before making the transfer, the transfer is not tax-free. Report the payment on line 13000 of your income tax and benefit return on the year the payment is received and do not claim a deduction.

Forms and publications

Report a problem or mistake on this page
Please select all that apply:

Thank you for your help!

You will not receive a reply. For enquiries, contact us.

Date modified: