T4RIF Slip Canada: RRIF Income and Tax
A T4RIF records RRIF income issued during the year. The payment type matters: regular income, tax withheld, direct transfers and amounts arising on death should not be collapsed into one number.
What to read on the slip
| Box | What it means | Where it goes on your return |
|---|---|---|
| Box 16 | Taxable amounts — the RRIF payments received in the year, including the required minimum withdrawal. | Line 11500 |
| Box 24 | Excess amount — the part of box 16 above the required minimum. Already included in box 16. | No separate entry (already counted in box 16); may support a deduction on line 23200 using Form T746 |
| Box 28 | Income tax the RRIF carrier deducted at source. | Line 43700 |
| Box 18 | Deceased — the fair market value of all property held by the RRIF at the annuitant's date of death. | See Guide T4040, RRSPs and Other Registered Plans for Retirement |
| Box 22 | Other income or deductions — used for amounts received from a deceased annuitant's RRIF, or a rollover to a registered disability savings plan. | Line 11500 or line 13000 depending on your relationship to the deceased; deductions to line 23200 |
| Box 35 | Amount directly transferred to you on breakdown of a marriage or common-law partnership. | Not included in income |
| Box 20 | Deregistration — the fair market value of all RRIF property just before the fund became an amended fund. | Line 11500 |
| Box 37 | Amount transferred to purchase an Advanced Life Deferred Annuity (ALDA). | Not reported as income; no deduction is claimed |
Minimum withdrawal
The required annual RRIF amount is based on age and opening value. It is taxable income even when no tax was withheld at source.
Excess withdrawal
Amounts above the minimum generally attract withholding, but the final tax still depends on total annual income.
Frequently asked questions
What is a T4RIF slip?
A T4RIF, Statement of Income From a Registered Retirement Income Fund, is issued by a RRIF carrier to report income an individual received from a RRIF during the year.
Is every T4RIF amount taxable?
Regular RRIF income is generally taxable, but a slip can also report transfers and death-related amounts with different treatment. Enter each box separately rather than treating the slip total as one ordinary withdrawal.
What is the difference between T4RIF and T4RSP?
A T4RIF reports income from a Registered Retirement Income Fund. A T4RSP reports amounts from a Registered Retirement Savings Plan. The plans and slip codes are different even though many withdrawals ultimately affect taxable income.
Why was no tax withheld from my RRIF minimum?
CRA withholding generally applies to the amount withdrawn above the required RRIF minimum, not automatically to the minimum itself. You can ask the carrier to withhold additional tax.
Can T4RIF income qualify for pension income splitting?
Eligible RRIF income can qualify in some circumstances, commonly when the recipient is age 65 or older. Eligibility depends on the payment and recipient, so use the pension-income prompts on the return.