T1171 Tax Withholding Waiver on Accumulated Income Payments from RESPs
The T1171 form is an official Canada Revenue Agency (CRA) form used to request a waiver of tax withholding on accumulated income payments (AIPs) that you are entitled to receive from a Registered Education Savings Plan (RESP). RESP administrators can use this form to avoid withholding tax on the AIP if the form is properly completed and submitted.
What the Form Is For
The purpose of Form T1171 is to inform the RESP promoter or administrator that you want them not to withhold tax on the accumulated income portion of your RESP payment. This is useful when you intend to transfer the AIP directly into an RRSP or a spouse’s RRSP, or in other qualifying situations.
Who Should Use It
The form is generally completed by an individual who is a subscriber to an RESP and is about to receive an accumulated income payment. It must be given to the plan administrator before the payment is made if you want the tax withholding to be waived.
How to Get and Complete the Form
You must download the PDF form to your computer and open it with a compatible PDF reader (e.g., Acrobat Reader 10 or later). There are two main formats available:
- Accessible fillable PDF (e.g., t1171-fill-24e.pdf): Allows you to enter information electronically and save the form.
- Standard print PDF (e.g., t1171-24e.pdf): For printing and manual completion.
Key Information Usually Required
- Your name and contact information.
- RESP subscriber details.
- Details of the RESP and the accumulated income payment.
- Certification that you intend to include the payment in income or transfer it to an RRSP, as legally required.
Completing the form accurately is important because it affects how the RESP administrator withholds tax on your payment. If incomplete or incorrect, the administrator might still withhold tax.
