RRIF Withholding Taxes on Excess Withdrawals
Withholding Tax Rates
All Canadian Provinces & Territories (Except Quebec)
| Excess Lump-Sum Withdrawal Amount |
CRA Withholding Rate |
Example ($10k Excess) |
Cash Received |
|---|---|---|---|
| $0 to $5,000 | 10% | $3,000 withdrawal $300 withheld |
$2,700 |
| $5,001 to $15,000 | 20% | $10,000 withdrawal $2,000 withheld |
$8,000 |
| Over $15,000 | 30% | $20,000 withdrawal $6,000 withheld |
$14,000 |
Source: 
Canada Revenue Agency
Withholding Tax Rates
For Quebec Residents
| Excess Lump-Sum Withdrawal Amount |
Federal (CRA) |
Provincial (Revenue Quebec) |
Total Tax Withheld |
|---|---|---|---|
| $0 to $5,000 | 5% | 14% | 19% |
| $5,001 to $15,000 | 10% | 14% | 24% |
| Over $15,000 | 15% | 14% | 29% |
Source: | 
Revenu Quebec