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Working with Seguin Financial Group is seamless. They are true professionals and great communic...

Kris Racine

The Greenwood Centre
3200 Deziel Dr. Suite 210
Windsor, ON, N8W 5K8

Phone: (519) 974-6688
Toll Free: +1 866-973-4846
Fax: (519) 974-7192

info@seguinfinancial.com

What is a RRIF?

A RRIF can be described as a continuation of your RRSP. It provides the same tax sheltering of growth but with one key difference. Instead of making tax deductible contributions, you have to take out a minimum taxable amount each year, based on your age. An RRSP has to be converted to a RRIF no later than December 31 of the year you turn age 69. No minimum withdrawal is required for the first year of RRIF. The first withdrawal is required by December 31 of the second year.

  • RRSP must be converted to a RRIF by age 71.
  • Growth is tax sheltered.
  • Contributions are not allowed
  • A minimum amount must be withdrawn each year.
  • Withdrawals are fully taxable.
  • No minimum withdrawal required in the first year.

Mutual funds are offered through Manulife Securities Investment Services Inc. Insurance products and services are offered through Seguin Financial Group Ltd. Seguin Financial Group is a trade name used for both mutual fund & Insurance business activities. Banking products and services are offered through referral.

info@seguinfinancial.com