Posted by lbourgeois
on Thursday, February 05, 2009.
Categories: RRSP
- A new RSP may be opened over the telephone provided the person is a member of the credit union and the credit union can confirm the individual’s identity. (Internal credit union policies may require the member to sign at a later date.)
- The original copy of the Designation of Beneficiary form signed by the annuitant and witnessed must be retained by the credit union.
- A surviving spouse/common-law partner named as beneficiary on a RRSP contract is not required to transfer all funds to his/her own RRSP/RRIF. S/he may direct all or a portion of the deceased spouse’s RRSP be paid out (credited to his/her regular account) and the value as at date of death will be taxable to the deceased. Interested in more information? Consider attending RP Success’ RRSP/RRIF Estates and T4RSPs/T4RIFs seminar in the fall 2009. Click here for more information.