The Canada RIF

Learn about bond maturity and options, receiving payments and about services for Canada RIF holders.

Bond Maturity

Bonds in all Canada RIF plans reached maturity. Your Canada RIF plan remains accessible to you, but the bonds in your plan no longer earns interest. Choose the option that best suits your needs.

Receiving Payments

Periodic Payments

Your periodic payments are made by direct deposit to your bank account, or by cheque mailed to the address on file. They are issued on the first business day of the month for the frequency you have chosen.

Minimum Payments

• The annual minimum amount withdrawn must meet the legislated minimum required by the Income Tax Act (Canada). The Canada RIF also has a minimum of $25 per payment. You can elect to receive more than the legislated annual minimum amount.
• Your December 31 statement, usually mailed no later than the third week of January, will tell you what your annual minimum payments will be.
• If your payments do not meet the annual minimum requirement an additional payment will automatically be made by December 31 to satisfy the legislative requirement.

Use Spouse’s Birthdate to Calculate Annual Minimum Payment

You may elect to use your spouse’s date of birth. If your spouse is younger, the legislated annual minimum payment will be lower; therefore, both the continued tax deferral of the proceeds within the RRIF and the amount of income it earns within the RRIF would be greater. Once the first payment is made, the date of birth you elected to use cannot be changed.

Payment Amount and Frequency

• You can opt to receive your payments every month, or every two, three, four, six or 12 months. Periodic payments are issued for the first business day of the month.
• You can change your payment amount or frequency at any time contacting Customer Service as long as the minimum $25 per payment and legislated annual minimum amount are met.

Lump Sum Withdrawals

Withdrawals can be made at any time (subject to the terms and conditions of the individual bonds) by contacting Customer Service. Lump sum withdrawals are subject to a withholding tax.

Statements

Statements will be issued annually as of December 31.

Services for The Canada RIF Holders

Find out about address and legal name changes, and other services for The Canada RIF holders.

The Canada RIF Terms and Conditions

See Terms and Conditions and Declaration of Trust for more information and find the latest version of the Trustee’s Privacy Code.