Box B – Death of the Annuitant of a RRIF: Designated Benefit Paid to the Surviving Spouse
Include in box B of the RL-2 slip (see courtesy translation RL-2-T) the amount of the designated benefit paid to the surviving spouse of an annuitant of a registered retirement income fund (RRIF) if the following conditions are met:
- The surviving spouse is named the beneficiary of all the property held in the RRIF, pursuant to applicable legislation, or the total value of the property held in the RRIF is payable to the surviving spouse under a provision of the annuitant's will.
- All of the transferable portion of the designated benefit is transferred to a registered retirement savings plan (RRSP), a RRIF, a pooled registered pension plan (PRPP) or a voluntary retirement savings plan (VRSP) of the surviving spouse or is used to purchase an annuity in the surviving spouse's name.
- The issuer of the RRIF carries out the transfer or purchase before the end of the year following the year of death.
If any of the above conditions is not met, see Box K – Death of a RRIF Annuitant.
The designated benefit may include income earned after the date of the annuitant's death and up to either of the following dates:
- the date of transfer to the RRSP, RRIF, PRPP or VRSP;
- the date of purchase of the annuity.
Enter “B-4” in a blank box, followed by the amount of the transferable portion of the designated benefit. To calculate this amount, use the following formula:
A represents the designated benefit paid out of or under the RRIF and included in the surviving spouse's income for the year;
B represents the minimum amount to be withdrawn from the RRIF for the year;
C represents the lesser of the following amounts:
- the total amount paid out of or under the RRIF and included in the annuitant's income for the year,
- the minimum amount to be withdrawn from the fund for the year;
D represents the total amount paid out of or under the RRIF that is included as a designated benefit in the surviving spouse's income for the year;
In addition, if the amount of the designated benefit paid to the surviving spouse exceeds the minimum amount, you must also enter “B-3” in a blank box, followed by the excess amount.