What is a T4RIF slip for?

A T4RIF slip reports income you received from a Registered Retirement Income Fund (RRIF) during the tax year. This includes your mandatory minimum withdrawal, any excess withdrawals, and amounts paid at death. The slip shows gross income and any taxes withheld on amounts exceeding the minimum.

What is the difference between a T4RSP and T4RIF?

A T4RSP reports withdrawals from an RRSP, while a T4RIF reports income from a RRIF. You typically convert your RRSP to a RRIF by the end of the year you turn 71. After conversion, you receive T4RIF slips instead of T4RSP slips for your retirement income.

Is tax withheld on RRIF minimum withdrawals?

No. Tax is not withheld at source on your minimum required RRIF withdrawal. However, if you withdraw more than the minimum, withholding tax applies to the excess at the standard rates (10%, 20%, or 30% depending on the amount). You may still owe tax when you file, even on the minimum.

Can I claim the pension income tax credit on T4RIF income?

Yes, if you are 65 or older. RRIF income qualifies for the pension income amount, which provides a federal tax credit of up to $2,000 (plus provincial credits). Claim it on Line 31400 of your tax return. If under 65, RRIF income does not qualify.

Can I split T4RIF income with my spouse?

Yes, if you are 65 or older. You can allocate up to 50% of eligible pension income (including RRIF income) to your spouse using Form T1032. This can reduce your combined tax bill if your spouse is in a lower tax bracket.

What is the RRIF minimum withdrawal for 2026?

The minimum withdrawal is a percentage of your RRIF value on January 1, based on your age. At age 71, the minimum is 5.28%. At 80, it's 6.82%. At 90, it's 11.92%. The percentage increases each year, ensuring the RRIF is gradually depleted over your lifetime.

T4RIF Slip Explained Canada 2026: RRIF Withdrawals & Retirement Income

Once you convert your RRSP to a RRIF (required by the end of the year you turn 71), you’ll receive a T4RIF slip each year reporting your retirement income. Unlike RRSP withdrawals, RRIF minimum withdrawals have no withholding tax at source — but they’re still fully taxable. If you withdraw more than the minimum, withholding applies to the excess. The good news: RRIF income qualifies for the pension income tax credit and can be split with your spouse if you’re 65 or older, providing valuable tax planning opportunities in retirement.

What Is a T4RIF Slip?

Feature	Details
Full name	Statement of Income from a RRIF
Issued by	Financial institution holding your RRIF
Reports	Minimum withdrawal, excess withdrawals, amounts at death
Due date	Last day of February
Tax treatment	Fully taxable income

When You Receive a T4RIF

You’ll receive a T4RIF slip if you:

Situation	What’s Reported
Received minimum withdrawal	Amount withdrawn (no withholding)
Withdrew more than minimum	Full amount + withholding on excess
Received periodic payments	Total payments for the year
RRIF holder died	Amounts paid to estate/beneficiary

RRIF Minimum Withdrawal Rates (2026)

Your RRIF requires a minimum annual withdrawal based on your age (or your spouse’s age, if younger) at the start of the year.

Age on Jan 1	Minimum %	Example: $500,000 RRIF
71	5.28%	$26,400
72	5.40%	$27,000
73	5.53%	$27,650
74	5.67%	$28,350
75	5.82%	$29,100
76	5.98%	$29,900
77	6.17%	$30,850
78	6.36%	$31,800
79	6.58%	$32,900
80	6.82%	$34,100
85	8.51%	$42,550
90	11.92%	$59,600
94+	20.00%	$100,000

Note: If your spouse is younger, you can use their age to calculate a lower minimum. This preserves more assets in the tax-sheltered RRIF.

T4RIF Boxes Explained

Key Income Boxes

Box	Description	Tax Treatment
16	Taxable amounts	Fully taxable income
18	Excess amount	Amounts over minimum (withholding applies)
22	Minimum amount	Not subject to withholding
24	Amounts at death	Taxable to deceased or estate

Withholding and Identification

Box	Description	Use On Return
28	Income tax deducted	Credit against taxes owing
12	Payer’s name	Financial institution
14	Recipient’s SIN	Your social insurance number

Understanding Each Box

Box 16: Taxable Amounts

This is the total amount you received from your RRIF during the year.

What It Includes	Example
Minimum withdrawal	$26,400
Excess withdrawal	$13,600
Total (Box 16)	$40,000

Tax treatment: Fully included in income. Report on Line 11500 of your tax return.

Box 22: Minimum Amount

The portion of your withdrawal that equals the required minimum. This amount is not subject to withholding tax at source.

Feature	Details
Withholding	None
Still taxable?	Yes, at your marginal rate
Why no withholding?	Government assumes you’ll pay when filing

Box 18: Excess Amount

Any amount withdrawn above the minimum. Withholding tax applies to this portion.

Excess Amount	Withholding Rate	Tax Withheld
Up to $5,000	10%	$500 max
$5,001 – $15,000	20%	$1,000 – $3,000
Over $15,000	30%	30% of amount

Quebec: Federal withholding is 5%, 10%, or 15%. Provincial tax is withheld separately.

Box 28: Income Tax Deducted

Total tax withheld on excess withdrawals. Claim this as a credit on Line 43700 of your T1 return.

How to Report T4RIF Income

On Your Tax Return

T4RIF Box	Tax Return Line	Description
Box 16	Line 11500	Other pensions and superannuation
Box 28	Line 43700	Tax deducted at source
Pension credit	Line 31400	Up to $2,000 (if 65+)
Pension splitting	Form T1032	Optional, if eligible

Step-by-Step

Step	Action
1	Gather all T4RIF slips
2	Enter Box 16 total on Line 11500
3	If 65+, claim pension amount on Line 31400
4	Consider pension income splitting with spouse
5	Enter Box 28 withholding on Line 43700
6	Complete return — you may owe tax on minimum

Withholding Tax Rules

Minimum vs Excess

Withdrawal Type	Withholding	Why
Minimum amount	None	You must withdraw it anyway
Excess amount	10/20/30%	Voluntary — withholding required

Example: $40,000 Withdrawal

Component	Amount	Withholding
Minimum (age 75, $500K RRIF)	$29,100	$0
Excess	$10,900	$2,180 (20%)
Total received	$37,820
Total taxable	$40,000

At filing: You’ll owe tax on the full $40,000 at your marginal rate, minus the $2,180 credit.

Pension Income Tax Credit

RRIF income qualifies for the pension income amount if you’re 65 or older.

Federal Credit

Maximum Amount	Tax Credit (15%)	Savings
$2,000	15%	$300 federal

Provincial Credits

Most provinces offer an additional pension income credit:

Province	Max Amount	Approximate Credit
Ontario	$1,714	~$90
BC	$1,000	~$50
Alberta	$1,624	~$160
Quebec	$2,963	~$400

Combined savings: Up to $500–$700 depending on province.

How to Claim

Step	Action
1	Check Box 11500 has pension income
2	Enter eligible amount on Line 31400 (max $2,000)
3	Credit calculated automatically

Pension Income Splitting

If you’re 65 or older, you can split up to 50% of eligible pension income with your spouse.

How It Works

Factor	Details
Eligible income	RRIF payments (if 65+)
Maximum split	50% of eligible income
Benefit	Lower combined tax if spouse in lower bracket
Form required	T1032 (Joint Election)

Example: $60,000 RRIF Income

Scenario	Your Income	Spouse’s Income	Combined Tax
No splitting	$60,000	$20,000	Higher
Split 50%	$30,000	$50,000	Lower

Note: Your spouse must agree and file Form T1032 with their return.

Who Can Split

Requirement	Details
Age	You must be 65+ for RRIF income to qualify
Relationship	Legally married or common-law
Both must file	Each completes T1032
Living together	Must be together at year-end (exceptions apply)

RRIF vs RRSP Withdrawals

Feature	RRSP (T4RSP)	RRIF (T4RIF)
Minimum withdrawal	None	Required annually
Withholding on all withdrawals	Yes (10/20/30%)	Only on excess
Pension income credit	No	Yes (if 65+)
Pension income splitting	No	Yes (if 65+)
Must convert by age	71	N/A

Key advantage of RRIF: No withholding on minimum withdrawals preserves cash flow.

Death and T4RIF

When a RRIF holder dies, the RRIF value is deemed disposed.

Beneficiary	Tax Treatment
Spouse/common-law partner	Can transfer to spouse’s RRIF/RRSP tax-free
Financially dependent child/grandchild	May transfer to RDSP or term annuity
Other named beneficiary	Full value taxable to deceased
Estate	Full value taxable to deceased

Box 24: Amounts at Death

If you’re the executor or beneficiary, Box 24 shows amounts paid from the RRIF after the holder’s death. These are typically included on the deceased’s final return.

Common T4RIF Mistakes

Mistake	Consequence
Not withdrawing minimum	CRA penalty (50% of shortfall)
Assuming no tax owed	Minimum is taxable — you may owe
Missing pension credit	Leaving $300+ on the table
Not splitting income	Higher combined family tax
Forgetting voluntary withholding	Large tax bill at filing

Planning Tips

Request Voluntary Withholding

If you don’t want a tax bill at filing, ask your financial institution to withhold tax even on the minimum amount.

Request	Result
20% withholding on minimum	$5,820 withheld on $29,100
Avoids	Lump sum owing at tax time

Coordinate with Other Income

Other Income	Strategy
OAS + CPP	Keep total income below OAS clawback
Part-time work	May push you into higher bracket
Pension	Already using pension income credit

Use Spouse’s Age for Minimum

If your spouse is younger, you can elect to use their age to calculate a lower minimum withdrawal:

Your Age	Spouse Age	Minimum %
75	75	5.82%
75	70	5.00%

This keeps more money growing tax-sheltered in the RRIF.

Impact on Government Benefits

RRIF withdrawals affect income-tested benefits:

Benefit	Impact
OAS	Clawback if income exceeds $90,997 (2026)
GIS	Reduced based on income
Age Amount credit	Reduced above $44,325 (2026)

Planning: Consider withdrawing from TFSA first to preserve benefits, then RRIF.

T4RSP Slip Explained — For RRSP withdrawals
RRIF Minimum Withdrawal Calculator — Calculate your required minimum
Pension Income Splitting — Complete guide
OAS Clawback Guide — Avoid the recovery tax
How to Reduce Taxes in Retirement — Tax planning strategies