Registered Retirement Income Fund


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Registered Retirement Income Fund

In Canada, a tax-deferred retirement plan that invests the funds the holder has placed in a Registered Retirement Savings Plan (RRSP) and pays the beneficiary out of the income from those investments. Generally speaking, one does not buy an RRIF directly, but rather rolls over funds from an RRSP, which one may do anytime by the age of 71. The advantage to an RRIF is that it allows one to invest tax-free until one actually receives the income from those investments.
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Martland through his Registered Retirement Income Fund plan and 520,000 were acquired by Marpep.
No amounts are required to be reported for tax purposes in respect of cash distributions received by a Registered Retirement Savings Plan, Registered Pension Plan, Registered Retirement Income Fund or Deferred Profit Sharing Plan or any other such registered plans ("Deferred Plans").
Persons turning age 69 in 2001 must mature their RRSP into cash, an annuity or Registered Retirement Income Fund (RRIF) by December 31, 2001.
The self-directed plan also facilitates the transition to a registered retirement income fund or RRIF.
Unitholders who hold their investment in a Registered Retirement Savings Plan, Registered Retirement Income Fund, Deferred Profit Sharing Plan, Registered Education Savings Plan or any other types of registered plans need not report any income related to trust unit distributions on their 2009 income tax return.
No amounts are to be reported on the unitholders' 2007 Income Tax Return where fund units are held within a Registered Retirement Savings Plan (RRSP), Registered Retirement Income Fund (RRIF), Registered Education Savings Plan (RESP) or a Deferred Profit Sharing Plan (DPSP).
Since Canadian law will not allow periodic payments to be made out of an RRSP, C rolled the proceeds over into a Canadian registered retirement income fund (RRIF).
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