Principal Changes: RL-2 Slip

Advanced life deferred annuities

The administrator of an advanced life deferred annuity (ALDA) contract must report any amount paid during a year to a person who was resident in Québec on December 31 of that year or who was resident in Québec immediately before ceasing to be resident in Canada in the year.

The following amounts must be entered on the RL-2 slip:

  • annuity payments (box B);
  • the death benefit paid after the death of the last annuitant (box C); and
  • the refund to the annuitant of a portion of the premium paid for the acquisition of an ALDA (box C).

Do not report on the RL-2 slip amounts transferred directly to a licensed annuities provider for the acquisition of an ALDA from:

  • an unmatured registered retirement savings plan (RRSP);
  • a registered retirement income fund (RRIF);
  • a defined contribution registered pension plan (RPP);
  • a deferred profit-sharing plan (DPSP);
  • a pooled registered pension plan (PRPP);
  • a voluntary retirement savings plan (VRSP).

Variable payment life annuities paid under an RPP, a PRPP or a VRSP

The payer of a variable payment life annuity under a defined contribution RPP, a PRPP or a VRSP must report all amounts paid during a year to a person who was resident in Québec on December 31 of that year or who was resident in Québec immediately before ceasing to be resident in Canada in the year. You must enter:

  • the amount of variable payment life annuities paid under a defined contribution RPP in box A.
  • the amount of variable payment life annuities paid under a PRPP or a VRSP in box B.

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