No, you may hold any amount of qualified foreign investments in your RRIF. They can, yes. This amount is determined by the federal government using a calculation based on your age and the dollar value of your RRIF on December 31st. In the first year that your RRIF is opened, you are not required to make a withdrawal.
However, you must make your minimum withdrawal in the following year. At the top of your Holdings page, a RRIF Details link takes you where you need to go to view your minimum withdrawal requirements and payment details. Withdrawals may be made monthly, quarterly, semi-annually or annually. You can choose the frequency when you complete your application to open your RRIF. You may elect to receive more than the minimum amount.
However, any amount above the minimum is subject to withholding taxes. Withholding taxes differ depending on your province of residence, so speak to a tax advisor who is familiar with the tax rules for your province.
The actual rate of return is largely dependent on the type of investments you select. It is important to remember that future rates of return can't be predicted with certainty and that investments that pay higher rates of return are generally subject to higher risk and volatility. The actual rate of return on investments can vary widely over time, especially for long-term investments. This includes the potential loss of principal on your investment.
If you choose to calculate your RRIF distributions based on a fixed monthly payment, enter the payment amount here. If your payment is less than the minimum required at any time we increase it to the minimum amount for that period. If you choose to calculate your RRIF distributions on a fixed number of years, enter the number of years here.
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Term deposits All term deposit rates. RRIF payment calculator. Age Your age at the start of this calendar year. Anticipated Rate of Return The yearly growth rate that you anticipate your investments will earn. Age at last RRIF payment:. Next step?
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