Examples of RRIF in a sentence
Additional guidance was set forth in Revenue Ruling 89-95, 1989-2 C.B. 131, which provided that if the proceeds of a RRSP were rolled over to a Canadian registered retirement income fund (“RRIF”), the RRIF would be treated as a plan substituted for the RRSP, with the result that both the proceeds that were rolled over from the RRSP and the income subsequently accrued in the RRIF could qualify for deferral under former Article XXIX(5)..03 Article XVIII(7).
SCOPEThis revenue procedure applies to an individual who is a citizen or resident of the United States and a beneficiary of one of the following Canadian plans (an “eligible plan”): a RRSP, a RRIF, a registered pension plan, or a deferred profit sharing plan.This revenue procedure applies regardless of whether the individual was a resident of Canada at the time contributions were made to the eligible plan.
When you die, your pension partner will receive the remainder of the LIF account.Payment can be into their Registered Retirement Income Fund (RRIF) or RRSP if your pension partner is under age 71.