What is the tax implication if the beneficiary of a RRIF is 3 adult children of the owner of the RRIF?
Categories:
Tags:
Our response:
If a Registered Retirement Income Fund (RRIF) beneficiary is not a spouse or common-law partner, or a financially dependent child or grandchild, the entire value of the RRIF will be subject to tax.
Read this previous question to learn more about the tax implications if a non-spouse adult is the RRIF beneficiary.