How Much Do You Have To Take Out Of A RRIF?
Use A RRIF Minimum Withdrawal Calculator
To determine how much you have to take out of a RRIF, use the RRIF minimum withdrawal calculator below. It will calculate your required minimum withdrawal rate.
Under the law, Canadians aged 71 must convert their RRSP into a RRIF or an annuity. Below are the minumum percentages Canadian seniors must draw from their RRIFs annually commencing no later than age of 71.
The minimum amount must be paid to you in the year after the year the RRIF is established. Earnings in a RRIF are tax-free, and amounts paid out of a RRIF are taxable when you receive them.
This information and content are provided for your general guidance, based on information we believe to be accurate, but without a guarantee of accuracy or completeness. This calculator is not intended to constitute financial or tax advice.
The Hughes Trustco Group Ltd makes no warranties, expressed or implied, as to the accuracy or completeness of the information contained herein. It shall not be liable for any losses or damages arising from any errors or omissions in such information or results, or any advice or decision made by you in reliance on any information or results.