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If I am 71, can I defer the minimum RRIF withdrawal until the end of the following year?



Our response:

When it comes to the minimum mandatory withdrawal you must start withdrawing money from your Registered Retirement Income Fund (RRIF) in the year after you open it. If you were to convert your Registered Retirement Savings Plan (RRSP) in the year you turn 71, the latest you are allowed to take your first payment is December 31st in the year you turn 72 however, the payment would need to equal the full minimum amount for that applicable year. Generally, you can elect to take the minimum withdrawal amount on a monthly, quarterly, semi-annual, or annual basis provided that your total yearly amount equals the minimum amount for the applicable year.

Visit to learn more about RRIFs and other financial topics. Speak with a registered financial representative for investment advice that fits your personal and financial situation.

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