T4RIF Statement of Income from a Registered Retirement Income Fund
The T4RIF slip is used by payers (issuers or carriers) to report income paid or deemed received from a Registered Retirement Income Fund (RRIF) to a recipient for Canadian tax purposes. It must be completed accurately and submitted to both the recipient and the Canada Revenue Agency (CRA).
Purpose of the T4RIF Slip
The T4RIF slip shows amounts that must be included in the recipient’s income or otherwise reported on their tax return. It is part of the T4RSP/T4RIF information returns system used to report income from retirement plans and registered funds.
Key Boxes on the T4RIF Slip
Box 12 – Social Insurance Number
Enter the recipient’s Social Insurance Number (SIN). If the recipient has applied for a SIN but has not yet received one by the filing deadline, nine zeroes are entered.
Box 14 – Contract Number
The RRIF contract number assigned by the payer.
Box 16 – Taxable Amounts
This box reports the taxable amounts paid to the RRIF annuitant during the year, including minimum required payments and any excess amounts.
Box 18 – Amounts Deemed Received at Death
If the annuitant died during the year, box 18 shows the fair market value of the RRIF property just before death, treated as deemed income.
Box 20 – Deregistration Amounts
If a RRIF no longer meets its registered status and is deregistered, box 20 reports the fair market value of RRIF property immediately before deregistration.
Box 22 – Other Income or Deductions
Includes other types of income or allowable deductions related to RRIF transactions during the year, such as income earned after the annuitant’s death or for certain trusteed funds.
Box 24 – Excess Amount
If the RRIF pays out more than the required minimum in the year, report that excess amount here. It is also included in box 16.
Boxes 26 & 32 – Spousal/Common-Law Partner RRIF
Indicate whether the plan is a spousal or common-law partner RRIF (yes/no) and include the contributor’s SIN where applicable.
Box 28 – Income Tax Deducted
Enter the amount of income tax withheld by the payer.
Box 36 – Tax-Paid Amount
This amount is reported when tax has already been paid on income distributed from a trusteed RRIF. It helps the recipient determine what to report on their tax return.
Box 37 – Advanced Life Deferred Annuity (ALDA)
Shows amounts transferred to purchase an ALDA. These are not reported as taxable income.
Box 60 – Payer Name and Box 61 – Account Number
Include the full legal name of the RRIF payer and the 15-character account number used for CRA reporting.
Filing and Reporting Considerations
Payers must complete T4RIF slips and summaries annually and submit them by the required filing deadline to the CRA. Recipients use the information on the slip to report amounts on their income tax return where applicable.
