Canadian CANNAINVESTOR Magazine November 2018 | Page 148

Successor annuitant

Beneficiary

simple name change on the existing plan or the transfer of assets in-kind to the surviving spouse’s plan.

eligible to be transferred to the spouse’s plan. A contribution slip is issued for amounts transferred to the surviving spouse’s RRIF or RRSP.

Tax slips to be issues

The deceased spouse’s estate receives a T4RRIF for payments made prior to death. A T4RRIF is issued to the surviving spouses for the payments made subsequent to the death of their spouse.

The deceased spouse receives a T4RRIF for payments prior to death. A T4RRIF is issued for the total amount of the RRIF paid out to the surviving spouse. A contribution slip is issued for amounts transferred to the surviving spouse’s RRSP/RRIF, which results in a deduction to offset some of the income inclusion. If the assets are transferred to a RRIF payments out of the RRIF to the surviving spouse will also generate a T4RRIF for the surviving spouse.

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