,canada ,cu/oms                       #a
& ,rev5ue ,ag5cy

            ,9=m,n ,circul>
    
,numb]3 #gh-ah;,r#f
,date3 ,m>* #f1 #bjjb
,subject3 ,regi/]$ ,retire;t ,9come
  ,funds

  ,? circul> c.els & replaces ,9=m,n
,circul> #gh-ah;,r#e dat$ ,june #ag1
#aiif4

               ,9troduc;n
    
#a4 ,if y >e ! c>ri] (a retire;t 9come
  fund 7,,rif71 ? circul> w help y
  adm9i/] ! fund4 ,x expla9s c]ta9
  provi.ns (! ,9come ,tax ,act 7! ,act7
  & \tl9es ! regi/r,n require;ts (!
  ,canada ,cu/oms & ,rev5ue ,ag5cy
  7,,ccra74 ,! public,ns li/$ 9 #fj 2l
  provide m 9=m,n4
                                      #a
              #gh-ah;,r#f            a#a
#b4 ,sec;n #adf.c (! ,act 3ta9s !
  provi.ns gov]n+ regi/]$ retire;t 9come
  funds 7,,rrif's74
#c4 ,subsec;n #adf.c7#a7 def9es a ,,rif
  z an >range;t 2t a c>ri] 7see #d 2l7 &
  an annuitant "u : ! c>ri] agrees 6make
  pay;ts 6! annuitant &1 if ! annuitant
  *ooses 78elects071 6! annuitant's
  sp\se or -mon-law "pn] af !
  annuitant's d1?1 9 3sid],n =! transf]
  ( prop]ty 6! c>ri]4 ,! pay;ts m/ 2g9
  no lat] ?an ! f/ cal5d> ye> af ! ye> 9
  : ! annuitant 5t]$ 96! ,,rif4 ,ea*
  ye>1 ! c>ri] m/ make "o or m pay;ts t1
  9 total1 >e at l1/ equal 6! m9imum
  am.t 7see #e 2l7 "u ! ,,rif =! ye>4 ,a
  pay;t _c 2 grt] ?an ! value (! prop]ty
  held 9 3nec;n )! ,,rif immly 2f !
  pay;t4

,note
  ,a ,,rrif 5t]$ 962f ,m>* #aihf & n
  revis$ or am5d$ s9ce ,febru>y #aihf is
  subject 6! t]ms & 3di;ns (!         #b
              #gh-ah;,r#f            b#a
  >range;t z x exi/$ 9 ,febru>y #aihf4
  ,! def9i;n (a ,,rif 9 ? p>agraph &(!
  m9imum am.t 9 #e 2l d n apply until !
  ye> 9 : s* a ,,rrif is f/ revis$ or
  am5d$4

#d4 ,an >range;t c 2 5t]$ 96)a p]son or
  organiz,n li/$ 2l1 :o is ref]r$ 6z !
  c>ri]3
  7a7 a -pany lic5s$ 6c>ry on an
    annuities busi;s 9 ,canada 7s* z an
    9sur.e -pany72
  7b7 a ,canadian tru/ -pany2
  7c7 a -pany t ! ,gov]nor 9 ,c\ncil has
    approv$ 6sell 9ve/;t 3tracts =
    regi/]$ retire;t sav+s plans
    7,,rrsp's72 &
  7d7 a deposit>y describ$ 9 sec;n #adf
    z3
    7;i7 a memb] or a p]son eligi#
      62come a memb] (! ,canadian
      ,pay;ts ,associ,n2 or
    7;ii7 a cr$it union t is a %>ehold]
      or memb] (a corporate body      #c
              #gh-ah;,r#f            c#a
      ref]r$ 6z a 8c5tral0 =! purposes
      (! ,canadian ,pay;ts ,associ,n
      ,act4
    
              ,m9imum am.t
    
#e4 ,! 8m9imum am.t0 ref]r$ 6in #c abv
  is nil =! ye> 9 : ! annuitant 5t]s 96!
  fund4 ,= ea* subsequ5t ye>1 />t+ 9
  #aiih1 y calculate ! m9imum am.t
  0multiply+ ! fair m>ket value (!
  prop]ty 7o!r ?an c]ta9 types (
  annuities7 held 9 3nec;n )! fund at !
  2g9n+ (! ye> 0a prescrib$ factor1 &
  a4+ ! result 6! total1 if any1 ( all
  am.ts repres5t+ ei3
  --a p]iodic pay;t rcvd 0! tru/ 9 ! ye>
    "u an annu;y1 ! fair m>ket value ( :
    is n 9clud$ 9 ! calcul,n (! m9imum
    am.t2 or
  --an e/imate (a p]iodic pay;t ! tru/
    wd h rcvd "u s* an annu;y held at !
    />t (! ye>1 if ! tru/ _h n 4pos$ (!
    "r 6! pay;t dur+ ! ye>4           #d
              #gh-ah;,r#f            d#a
  ,! prescrib$ factor c correspond 6!
  age (! f/ annuitant "u ! fund or1 if !
  f/ annuitant s elects 2f rcvg any
  pay;ts "u ! fund1 6! age (!
  annuitant's sp\se or -mon-law "pn] at
  t "t4 ,sec;n #gcjh (! ,9come ,tax
  ,regul,ns describes ! prescrib$
  factor4

,note
  ,! calcul,n (! m9imum am.t us+ a
  prescrib$ factor came 96e6ect 9 #aiib4
  ,if ! annuitant elect$ 2f #aiib 6base
  ! m9imum pay;t f a ,,rrif on ! sp\se's
  age1 use ! prescrib$ factor
  correspond+ 6! age (! sp\se 6calculate
  ! m9imum am.t4 ,see ! note 9 #c abv
  reg>d+ ,,rrif's 5t]$ 962f ,m>* #aihf t
  h n be5 revis$ or am5d$ s9ce ,febru>y
  #aihf4

#f4 ,= c]ta9 qualify+ ,,rrif's1 !
  prescrib$ factor correspond+ 6! age (
  an 9dividual :o is ov] #gj & "u     #e
              #gh-ah;,r#f            e#a
  #gh di6]s f ! prescrib$ factor = o!r
  ,,rrif's & w result 9 a m9imum am.t t
  is sli<tly l[] ?an t = o!r ,,rrif's4
  ,a ,,rrif is a qualify+ ,,rrif if !
  annuitant 5t]$ 96x 2f #aiic &! c>ri]
  has n a3ept$ any prop]ty af #aiib1 o!r
  ?an prop]ty transf]r$ f ano!r qualify+
  ,,rrif4
#g4 ,! prescrib$ factor =a qualify+
  ,,rrif is ! factor 9 ! foll[+ ta# t
  corresponds 6! age 9 :ole ye>s 7in !
  ta# ref]r$ 6z ;,x7 (! 9dividual
--------------------------------------#b
  at ! 2g9n+ (! ye>1 or ! age !
  9dividual wd h be5 at ! 2g9n+ (! ye>
  if ! 9dividual _h be5 alive !n4







                                      #f
              #gh-ah;,r#f            a#b
,age "" ,factor """""""""" ,age  ,factor
7;,x7 """""""""""""""""""" 7;,x7
"u #gi  #a/7#ij numb] ;,x7 #hg "" #.aacc
#gi """ #.jhec """"""""""" #hh "" #.aaif
#hj """ #.jhge """"""""""" #hi "" #.abga
#ha """ #.jhii """"""""""" #ij "" #.acfb
#hb """ #.jibg """"""""""" #ia "" #.adgc
#hc """ #.jieh """"""""""" #ib "" #.afab
#hd """ #.jiic """"""""""" #ic "" #.agib
#he """ #.ajcc """"""""""" #id or
 """"""""""""""""""""""""" old] """" #.b
#hf """ #.ajgi

#h4 ,! prescrib$ factor = all o!r
  ,,rrif's is ! factor 9 ! foll[+ ta# t
  corresponds 6! age 9 :ole ye>s 7in !
  ta# ref]r$ 6z ;,y7 (! 9dividual at !
  2g9n+ (! ye>1 or ! age ! 9dividual wd
  h be5 at ! 2g9n+ (! ye> if ! 9dividual
  _h be5 alive !n4



                                      #g
              #gh-ah;,r#f            b#b
,age "" ,factor """""""""" ,age  ,factor
7;,y7 """""""""""""""""""" 7;,y7
"u #ga  #a/7#ij numb] ;,y7 #hc "" #.jieh
#ga """ #.jgch """"""""""" #hd "" #.jiic
#gb """ #.jgdh """"""""""" #he "" #.ajcc
#gc """ #.jgei """"""""""" #hf "" #.ajgi
#gd """ #.jgga """"""""""" #hg "" #.aacc
#ge """ #.jghe """"""""""" #hh "" #.aaif
#gf """ #.jgii """"""""""" #hi "" #.abga
#gg """ #.jhae """"""""""" #ij "" #.acfb
#gh """ #.jhcc """"""""""" #ia "" #.adgc
#gi """ #.jhec """"""""""" #ib "" #.afab
#hj """ #.jhge """"""""""" #ic "" #.agib
#ha """ #.jhii """"""""""" #id or
 """"""""""""""""""""""""" old] """" #.b
#hb """ #.jibg

#i4 ,,rrif pay;ts c />t 9 ! ye> !
  annuitant 5t]s 96! >range;t1 b any s*
  pay;t made 9 t ye> exce$s ! m9imum
  am.t & is subject 6)hold+ taxes4
  ,am.ts exce$+ ! m9imum am.t c 2
  transf]r$ 6ano!r fund or plan or
                                      #h
              #gh-ah;,r#f            c#b
  6pur*ase an annu;y 7see #dc 6#dh & #ej
  6#ea74
#aj4 ,! elec;ns not$ 9 #c & #e abv >e
  9dep5d5t ( ea* o!r4 ,! annuitant c
  elect 6use ! prescrib$ factor
  correspond+ 6! age (! sp\se or -mon-
  law "pn] 6calculate ! m9imum am.t ev5
  if ! sp\se or -mon-law "pn] is n
  designat$ 63t9ue 6rcv pay;ts "u !
  ,,rrif af ! annuitant's d1?4
#aa4 ,z not$ 9 #e abv1 2f any pay;ts >e
  made "u ! fund1 ! annuitant has 6elect
  6use ! prescrib$ factor correspond+ 6!
  age (! sp\se or -mon-law "pn] :5
  calculat+ ! m9imum am.t4 ,once !
  elec;n is made1 x _c 2 *ang$1 ev5 if !
  sp\se or -mon-law "pn] dies4 ,h["e1 !
  annuitant c e/abli% ano!r ,,rrif
  0transf]r+ funds & !n make a new
  elec;n = ? o!r ,,rrif4
#ab4 ,"! >e no tim+ re/ric;ns on !
  elec;n not$ 9 #c abv1 "u : b5efits c 2
  pd 6! sp\se or -mon-law "pn] on ! d1?
  (! annuitant4 ,! elec;n c 2 made    #i
              #gh-ah;,r#f            d#b
  "u a provi.n (! dec1s$ annuitant's w4
  ,:5 ! annuitant has made an elec;n1 !
  surviv+ sp\se or -mon-law "pn] 2comes
  ! annuitant "u ! fund af ! d1? (! f/
  annuitant4 ,! surviv+ sp\se or -mon-
  law "pn] c al 2come ! annuitant ev5 if
  ! f/ annuitant did n make an elec;n--
  provid$ y "utake 6make pay;ts 6!
  surviv+ sp\se or -mon-law "pn]1 &!
  legal repres5tative =! dec1s$
  annuitant 3s5ts4 ,z well1 a new sp\se
  or -mon-law "pn] (! surviv+ sp\se or
  -mon-law "pn] c 2come ! annuitant "u !
  fund on ! d1? (! surviv+ sp\se or
  -mon-law "pn]--provid$ y "utake 6make
  pay;ts 6! new sp\se or -mon-law "pn]1
  &! legal repres5tative (! n[-dec1s$
  surviv+ sp\se or -mon-law "pn] 3s5ts4
  ,see ! ,t#d;,,rsp & ,t#d;,,rif ,guide
  or 9=m,n %eet ,,rc#dagh1 ,d1? (a
  ,,rrif ,annuitant1 = 9=m,n on report+
  require;ts on ! d1? ( an annuitant or
  surviv+ sp\se or -mon-law "pn]4
                                     #aj
        ,approval ( specim5 fund     e#b
    
#ac4 ,y %d get \r approval (! >range;t
  2f m>ket+ x z a ,,rif4 ,! ,,rif 3tract
  & applic,n =m tgr 3/itute ! specim5
  fund4 ,submit a draft copy (! specim5
  fund 6! foll[+ a4ress3

  ,regi/]$ ,plans ,directorate
  ,canada ,cu/oms & ,rev5ue ,ag5cy
  ,?ird floor
  #de ,sacre-,coeur ,b\lev>d
  ,hull ,,qc ,k#a;,a #j;,l#e
  
,note
  ,if a lock$-in a45dum or supple;t>y
  agree;t is us$ )! specim5 fund
  6a3ommodate ! transf]-in ( lock$-in
  p5.n funds1 s5d a copy (! a45dum or
  supple;t>y agree;t ) yr specim5 fund4
  7,see #ba 6#bf = m 9=m,n on lock$-in
  funds47

#ad4 ,:5 we >e satisfi$ t ! specim5 fund
  meets ! require;ts (! ,act1 we w   #aa
              #gh-ah;,r#f            f#b
  notify y t we w a3ept = regi/r,n z a
  ,,rrif an actual >range;t 5t]$ 96in !
  approv$ =m4 ,we w ask y 6s5d u a f9al1
  pr9t$ copy (! approv$ >range;t &
  applic,n =m4
#ae4 ,:5 we a3ept ! specim5 fund1 we w
  assign an id5tific,n numb] 6x4 ,9 any
  correspond;e ) u1 9clude ! id5tific,n
  numb] :5 y ref] 6! specim5 fund or 6a
  ,,rrif 3=m+ 6! specim5 fund4 ,:5 y
  ref] 6a ,,rrif1 al use ! annuitant's
  social 9sur.e numb] &! 3tract numb] 7=
  example1 a 3tract1 a3.t1 c]tificate1
  or o!r id5tify+ numb] y h assign$ 6!
  >range;t7 "u : ! fund is or w 2
  regi/]$4
--------------------------------------#c
               ,regi/r,n
    
#af4 ,6regi/] ,,rif's1 s5d u a li/ (!
  "ns ( 9dividuals ) :om y h 5t]$
  96>range;ts4 ,y ne$ 6provide ! "n1
  a4ress1 & social 9sur.e numb] ( ea*
  9dividual1 &! 3tract numb]s 7=     #ab
              #gh-ah;,r#f            a#c
  example1 ! 3tract1 a3.t1 c]tificate1
  or o!r id5tify+ numb] y h assign$ 6ea*
  >range;t7 (! >range;ts on ! li/4 ,we w
  n regi/] ! ,,rif1 reg>d.s (!
  circum/.es1 if ! annuitant's social
  9sur.e numb] is miss+ f ! li/4 ,y al
  ne$ 69clude ! "n (! specim5 fund1 !
  id5tific,n numb] we assign$ 6! specim5
  fund1 &! cal5d> ye> 9 : y 5t]$ 96!
  li/$ >range;ts4

  ,y c submit li/s on a qu>t]ly or m
  frequ5t basis b y ne$ 6submit at l1/
  "o ea* ye>1 n lat] ?an #fj "ds af ! 5d
  (! cal5d> ye> = : y want regi/r,n4
  ,s5d ea* li/ atta*$ 6a sep>ate ,=m
  ,t#eej1 ,applic,n = ,regi/r,n (
  ,retir;t ,sav+s ,plans1 ,$uc,n ,sav+
  ,plans & ,retir;t ,9come ,funds1 or
  atta*$ 6a sep>ate lr = ea* specim5
  fund )! signature ( an au?oriz$ (fic]
  (! c>ri] :o3
  --/ates ! total numb] ( >range;ts li/$
    =! specim5 fund1 not+ !          #ac
              #gh-ah;,r#f            b#c
    id5tific,n numb] we assign$ 6! fund
    &! numb] ( pages t make up ! li/2 &
  --a6irms t3
    --! annuitants (! funds li/$ h ask$
      6h _! funds regi/]$2
    --! >range;ts li/$ -ply )! provi.ns
      ( sec;n #adf.c (! ,act2 &
    --! funds 3=m 9 all respects 6!
      approv$ specim5 fund4
  ,pl1se d n submit li/s z an atta*;t
  6,=m ,t#c;,g1 ,c]tific,n ( ,no ,tax
  ,liabil;y 0a ,gr\p ( ,,rrsp's1
  ,,rrif's1 or ,,resp's4 ,li/s atta*$
  6,=m ,t#c;,g w n 2 a3ept$ = regi/r,n4

  ,s5d ! li/ to3
    ,regi/]$ ,plans ,directorate
    ,canada ,cu/oms & ,rev5ue ,ag5cy
    ,?ird floor
    #de ,sacre-,coeur ,b\lev>d
    ,hull ,,qc ,k#a;,a #j;,l#e
    

                                     #ad
              #gh-ah;,r#f            c#c
,note
  ,^! li/s c n[ 2 submitt$ on
  ;,,cd-,,rom z basic delimit$ ,,ascii
  text files4 ,= fur!r 9=m,n on !
  ;e-,li/+s process1 pl1se 3tact !
  ,regi/]$ ,plans ,directorate at !
  a4ress abv or 0ph"o at
  7#fac7 #ied-jdai4

#ag4 ,! li/ %d 3ta9 only funds t h n
  previ\sly be5 regi/]$4 ,if y ne$
  6correct ! 9=m,n on a li/ alr
  submitt$1 s* z a social 9sur.e numb]
  or "n1 s5d u a sep>ate lr4
#ah4 ,d n li/ an >range;t = regi/r,n
  until y h rcvd prop]ty transf]r$ 6x1
  s9ce a fund does n meet ! def9i;n (a
  ,,rif un.s a transf] ( prop]ty has be5
  -plet$4




                                     #ae
      ,/atutory 3di;ns = regi/r,n    d#c
    
#ai4 ,! text (! >range;t has 6-ply )
  subsec;n #adf.c7#b7 09clud+ ! foll[+
  provi.ns3
  7a7 ,! c>ri] w make only ^? pay;ts
    describ$ 9 p>agraphs #adf.c7#b77d71
    #adf.c7#b77e71 & #adf.c7#ad77b71 & 9
    ! def9i;n ( 8retire;t 9come fund0 9
    subsec;n #adf.c7#a74
  7b7 ,any s* pay;ts _c 2 assign$ 9 :ole
    or 9 "p4
  7c7 ,:5 ! c>ri] is a p]son ref]r$ 6z a
    deposit>y 9 sec;n #adf3
    7;i7 ! c>ri] has no "r ( (fset
      reg>d+ ! prop]ty held 9 3nec;n )!
      fund 7see #bj 2l7 = any debt or
      oblig,n [+ 6! c>ri]2 &
    7;ii7 ! prop]ty held 9 3nec;n )!
      fund _c 2 pl$g$1 assign$1 or 9 any
      way ali5at$ z secur;y =a loan or =
      any purpose o!r ?an t (! c>ri]
      mak+ pay;ts 6! annuitant z
      describ$ 9 7a7 abv4
                                     #af
              #gh-ah;,r#f            e#c
  7d7 ,except :5 ! annuitant's sp\se or
    -mon-law "pn] 2comes ! annuitant "u
    ! fund1 ! c>ri] w1 if ! annuitant
    dies1 4tribute ! prop]ty held 9
    3nec;n )! fund 7see #bj 2l7 at ! "t
    (! annuitant's d1? or an am.t equal
    6! value ( s* prop]ty at t "t4
  7e7 ,at ! direc;n (! annuitant1 !
    c>ri] w transf] 7z describ$ 9 #de7
    all or "p (! prop]ty held 9 3nec;n
    )! fund 7see #bj 2l71 or an am.t
    equal 6xs value at ! "t (! direc;n
    ,7o!r ?an prop]ty requir$ 6be reta9$
    ac 6! provi.n describ$ 9 p>agraph
    #adf.c7#b77e4#a7 or 7e4#b77'1 tgr )
    all 9=m,n nec =! 3t9u.e (! fund1 6a
    p]son :o has agre$ 6be a c>ri] (
    ano!r ,,rrif (! annuitant4
  7e4#a7 ,:5 an annuitant (a fund t does
    n gov]n a tru/1 or (a fund t gov]ns
    a tru/ cr1t$ 2f #aiih t does n hold
    an annu;y 3tract z qualifi$ 9ve/;t
    =! tru/1 at any "t directs t ! c>ri]
    transf] all or "p (! prop]ty     #ag
              #gh-ah;,r#f            f#c
    held 9 3nec;n )! fund 7see #bj 2l71
    or an am.t equal 6xs value at t "t1
    6any p]son :o has agre$ 6be a c>ri]
    ( ano!r ,,rrif (! annuitant1 z
    describ$ 9 7e7 abv1 ! transf]or %
    reta9 an am.t at l1/ equal to 7;i7
    or 7;ii7 2l1 :i*"e is less3
    7;i7 ! fair m>ket value (a por;n (!
      prop]ty1 if xs fair m>ket value
      does n decl9e af ! transf]1 t wd
      5sure ! m9imum am.t "u ! fund =!
      ye> 9 : ! transf] is made c 2 pd
      6! annuitant 9 ! ye>2 or
    7;ii7 ! fair m>ket value ( all !
      prop]ty4
  7e4#b7 ,:5 an annuitant "u a fund n
    cov]$ "u 7e4#a7 abv at any "t
    directs t ! c>ri] transf] all or "p
    (! prop]ty held 9 3nec;n )! fund
    7see #bj 2l71 or an am.t equal 6xs
    value at t "t1 6any p]son :o has
    agre$ 6be a c>ri] (
  
                                     #ah
              #gh-ah;,r#f             #d
    ano!r ,,rrif (! annuitant1 z
    describ$ 9 7e7 abv1 ! transf]or %
    reta9 prop]ty 9 ! fund su6ici5t
    65sure t ! total (3
    7;i7 ! fair m>ket value1 immly af !
      transf]1 (a prop]ty t is3
      7,a7 prop]ty o!r ?an an annu;y
        3tract2 or
      7,b7 a -muta# annu;y 3tract2 &
    7;ii7 all am.ts repres5t+ a r1sona#
      e/imate1 z (! "t (! transf]1 (!
      am.t ( an annual or m frequ5t non-
      commuta# annu;y 3tract t ! tru/
      may rcv af ! transf] & 9 ! ye> (!
      transf]
    is n less ?an ! am.t1 if any1 0: !
    m9imum am.t =! annuitant =! ye>
    exce$s :at has alr be5 pd 6!
    annuitant =! ye>4
  7f7 ,! c>ri] w n a3ept prop]ty z
    3sid],n1 o!r ?an prop]ty transf]r$
    f3
  
                                     #ai
              #gh-ah;,r#f            a#d
    7;i7 a regi/]$ retire;t sav+s plan
      7,,rrsp7 "u : ! 9dividual is !
      annuitant2
    7;ii7 ano!r ,,rrif "u : ! 9dividual
      is ! annuitant2
    7;iii7 ! 9dividual1 6! ext5t only t
      ! am.t (! 3sid],n 0 an am.t
      describ$ 9 p>agraph #fj7l77;v7 (!
      ,act2
    7;iv7 a ,,rrif or ,,rrsp (!
      annuitant's sp\se or -mon-law "pn]
      or =m] sp\se or -mon-law "pn] "u a
      decree1 ord]1 or judg;t (a -pet5t
      tribunal or "u a writt5 sep>,n
      agree;t1 relat+ 6a divi.n (
      prop]ty 2t ! 9dividual &!
      9dividual's sp\se or -mon-law "pn]
      or =m] sp\se or -mon-law "pn] 9
      settle;t ( "rs >is+ \ ( or on !
      br1kd[n ( _! m>riage or -mon-law
      "pn]%ip 7see #di72
    

                                     #bj
              #gh-ah;,r#f            b#d
    7;v7 a regi/]$ p5.n plan ( : !
      9dividual is a memb] ,7)9 ! m1n+
      assign$ 0subsec;n #adg.a7#a77'2
    7;vi7 a regi/]$ p5.n plan 9 a3ord.e
      ) subsec;n #adg.c7#e7 or 7#g72 or
    7;vii7 a prov9cial p5.n plan 9
      circum/.es 6: subsec;n #adf7#ba7
      applies4
  7g7 ,no b5efit or loan t is 3di;nal 9
    any way on ! exi/;e (! fund c 2
    ext5d$ 6! annuitant or 6a p]son )
    :om ! annuitant 0 n d1l+ at >m's
    l5g?1 o!r ?an3
    7;i7 a b5efit t is requir$ 6be
      9clud$ 9 -put+ ! annuitant's
      9come2
    7;ii7 an am.t ref]r$ 6in p>agraph
      #adf.c7#e77a7 or 7b72 or
    7;iii7 ! b5efit deriv$ f ! provi.n (
      adm9i/rative or 9ve/;t s]vices 9
      respect (! fund4
  7h7 ,! fund 9 all o!r respects m/ -ply
    ) regul,ns (! ,gov]nor 9 ,c\ncil
    made on ! recomm5d,n (! ,m9i/]   #ba
              #gh-ah;,r#f            c#d
    ( ,f9.e4 7,at ! date ( ? circul>1 "!
    7 no prescrib$ 3di;ns47
#bj4 ,! t]m 8prop]ty held 9 3nec;n )!
  fund0 z us$ 9 ? circul> m1ns ! value (
  prop]ty held 0! c>ri] =! fund1 &!
  value ( e>n+s f t prop]ty1 t >e
  relevant 9 det]m9+ ! am.t paya# 6!
  annuitant "u ! fund4

          ,lock$-in p5.n funds
    
#ba4 ,prov9cial p5.n /&>ds legisl,n &!
  f$]al ,p5.n ,b5efits ,/&>ds ,act1
  #aihe re/rict ! ca%-\ ( p5.n b5efits 9
  an ef=t 65sure t memb]s (a p5.n plan h
  an 9come = life4 ,9 mo/ p5.n
  jurisdic;ns1 memb]s :o h r1*$ a
  specifi$ age or numb] ( ye>s ( s]vice
  c only ca% \ _! b5efits on t]m9,n (
  employ;t or at retire;t if !y transf]
  ! funds 6an a3epta# >range;t4 ,^!
  funds >e ref]r$ 6z 8lock$-in40

                                     #bb
              #gh-ah;,r#f            d#d
  ,! transf] op;ns v>y 0jurisdic;n4
  ,g5],y1 lock$-in p5.n funds c 2
  transf]r$ f a p5.n plan 6"o or m (!
  foll[+3
  --ano!r p5.n plan2
  --a p]son1 =! pur*ase (a life annu;y2
  --a lock$-in ,,rrsp or lock$-in
    retire;t a3.t 7,,lira72
  --a lock$-in ,,rrif 7,,lrif72 or
  --a life 9come fund 7,,lif74
#bb4 ,a ,,lira is an >range;t t meets
  bo? ! lock+-in require;ts "u p5.n
  /&>ds legisl,n &! require;ts 9 ! ,act
  = ,,rrsp's4
#bc4 ,an ,,lrif &a ,,lif >e >range;ts t
  meet bo? ! lock$-in require;ts "u p5.n
  /&>ds legisl,n &! require;ts 9 ! ,act
  = ,,rrif's4 ,! re/ric;ns impos$ 0!
  /&>ds legisl,n c 2 9clud$ 9 ! ,,rrif
  docu;t xf1 or 9 an 5dorse;t or a45dum
  atta*$ 6! ,,rrif docu;t4
#bd4 ,an ,,lrif pays \ at l1/ ! m9imum
  am.t requir$ 0! ,act ea* ye> b
                                     #bc
              #gh-ah;,r#f            e#d
  re/ricts ! total pay;ts 9 a ye> 6a
  maximum set 0p5.n /&>ds legisl,n4
#be4 ,a ,,lif is simil> 6an ,,lrif 9 t x
  pays \ at l1/ ! m9imum am.t ea* ye> b
  does n exce$ a maximum set 0p5.n /&>ds
  legisl,n4 ,"s prov9cial regul,ns n[
  provide t :5 ! annuitant r1*es #hj
  ye>s ( age1 ! m9imum am.t =! ye> c 2
  pd f ! ,,lif &! rema9+ funds c 2 us$
  6pur*ase a life annu;y4 ,! annu;y has
  6meet ! 3di;ns 9 ! relevant p5.n /&>ds
  legisl,n & 9 clause #fj7l77;ii77,a7 (!
  ,act 7see #ea74 ,! annu;y c 2 pur*as$
  2f ! annuitant r1*es #hj ye>s ( age4
--------------------------------------#e
#bf4 ,! ,act only all[s transf]s f a
  ,,rrif 6ano!r ,,rrif1 6an ,,rrsp1 or
  6a p]son lic5s$ or o!rwise au?oriz$ "u
  ! laws ( ,canada or a prov9ce 6c>ry on
  an annuities busi;s 9 ,canada =!
  pur*ase ( an annu;y describ$ 9 clause
  #fj7l77;ii77,a74 ,3sequ5tly1 funds f/
  h 6be transf]r$ f an ,,lrif or ,,lif
  6an ,,rrsp 7or ,,lira7 2f !y c 2   #bd
              #gh-ah;,r#f            a#e
  transf]r$ 6a regi/]$ p5.n plan4 ,see
  #dc 6#ea = m 9=m,n on transf]s4

             ,ag5cy agree;t
    
#bg4 ,y may h an >range;t ) an ag5t1 s*
  z an 9ve/;t brok]1 t all[s ! ag5t
  6provide y ) c]ta9 adm9i/rative &
  9ve/;t func;ns4 ,y d n ne$ 6submit !
  ag5cy agree;t )! specim5 fund4 ,! ag5t
  may 2 appo9t$ z cu/odian (!
  securities1 & if ! securities >e
  regi/]$ 9 ! ag5t's "n1 !n ! exi/;e (!
  ag5cy agree;t1 ! id5t;y (! tru/ee1 &!
  3tract numb] (! ,,rrif t gov]ns ! tru/
  %d 2 cle>ly 4clos$ 9 ! secur;y
  regi/r,n =m4
#bh4 ,! specim5 fund has 6/ate t !
  ultimate responsibil;y = adm9i/]+ ea*
  fund rema9s ) y z ! c>ri]4 ,! ag5t may
  n *ange ! approv$ specim5 fund4 ,y h
  6d1l directly )! ,,ccra 3c]n+ all
  ,,rif matt]s & report+ require;ts1
                                     #be
              #gh-ah;,r#f            b#e
  un.s we h yr writt5 au?oriz,n 6d1l )
  yr ag5t or o!r repres5tative4

            ,gr\p >range;ts
    
#bi4 ,an associ,n1 employ]1 or o!r
  organiz,n 7"haf ref]r$ 6z an
  8organiz,n07 c sponsor a gr\p ,,rif4
  ,a gr\p ,,rif is ess5ti,y a collec;n (
  9dividual ,,rrif's = associat$
  9dividuals1 s* z employees ( an
  employ]1 memb]s ( an associ,n1 or !
  sp\ses or -mon-law "pn]s ( s*
  9dividuals4 ,! organiz,n c act z ag5t
  =! annuitant = c]ta9 purposes1 s* z
  mak+ 9ve/;t selec;ns "u ! fund4 ,:5 ?
  o3urs1 ! text (! ,,rif >range;t & xs
  applic,n =m %d cle>ly %[ t ! annuitant
  has au?oriz$ ! organiz,n 6act z 8 or
  h] ag5t &= :at purpose4
#cj4 ,:5 ! organiz,n acts z ag5t =!
  annuitant1 ! text (! ,,rif >range;t
  has 6/ate t ! ultimate responsibil;y =
  adm9i/]+ ea* fund rema9s ) y z !   #bf
              #gh-ah;,r#f            c#e
  c>ri]4 ,! organiz,n may n *ange !
  approv$ specim5 fund4 ,y h 6d1l
  directly )! ,,ccra 3c]n+ all ,,rif
  matt]s & report+ require;ts1 un.s we h
  yr writt5 au?oriz,n 6d1l ) ano!r
  p]son4

              ,applic,n =m
    
#ca4 ,! applic,n =m t is "p (! specim5
  fund 7see #ac7 has 6reque/ ! foll[+
  9=m,n3
  7a7 annuitant's "n1 a4ress1 social
    9sur.e numb]1 & date ( bir?2
  7b7 annuitant's signature2
  7c7 3tract numb] 7= example1 ! 3tract1
    a3.t1 c]tificate1 or o!r id5tify+
    numb] y h assign$ 6! >range;t72 &
  7d7 c>ri]'s "n4
#cb4 ,! applic,n =m m/ 3ta9 a reque/ 0!
  annuitant = y1 z ! c>ri]1 6apply =
  regi/r,n (! fund z a ,,rrif "u sec;n
  #adf.c (! ,act4 ,if an organiz,n 7see
  #bi & #cj7 sponsors ! specim5      #bg
              #gh-ah;,r#f            d#e
  fund1 ! applic,n =m has 69clude a
  clause 9 : ! annuitant au?orizes !
  sponsor 6act z ! annuitant's ag5t4
#cc4 ,we recomm5d t y 9clude an >ea on !
  applic,n =m =! applicant 6make ei or
  bo? elec;ns ref]r$ 6in ! def9i;ns (
  ,,rif & m9imum am.t 9 subsec;n
  #adf.c7#a74 7,see1 respectively1 #c &
  #e47
#cd4 ,y _c use ! ^w 8regi/]$0 6ref] 6!
  "n (! fund 9 ! applic,n =m or o!r
  specim5 fund docu;ts1 s9ce ! specim5
  fund is n regi/]$4 ,only ! 9dividual
  >range;ts 5t]$ 96in ! approv$ =m >e
  regi/]$4

          ,am5d;ts or revi.ns
    
#ce4 ,s5d all am5d;ts or revi.ns 6an
  approv$ specim5 fund 6u1 at ! a4ress 9
  #ac1 = \r approval 2f ! am5d;ts >e put
  96e6ect4 ,yr submis.n %d specify !
  nature (! *anges4
                                     #bh
              #gh-ah;,r#f            e#e
#cf4 ,if ! specim5 fund is am5d$
  6a3ommodate ! transf]-in ( lock$-in
  p5.n funds1 s5d u a copy (! lock$-in
  a45dum or supple;t>y agree;t4 7,see
  #ba 6#bf = m 9=m,n on lock$-in funds47

             ,*ange ( c>ri]
    
#cg4 ,! t]ms ( yr ,,rif >range;t may
  all[ y 6resign z c>ri] & 6appo9t a
  su3essor c>ri]4 ,? is g5],y 3sid]$ 6be
  an am5d;t 6! specim5 fund4 ,6process !
  *ange1 we ne$ a lr f y tell+ u ab !
  *ange ( c>ri] &! e6ective date4 ,we al
  ne$ 3firm,n f y or f ! su3essor c>ri]
  t ea* annuitant :o has a 3tract 3=m+
  6! specim5 fund has be5 9=m$ (! *ange4
  ,! su3essor c>ri] %d s5d any am5d;ts
  6! specim5 fund result+ f ! *ange 6u
  at ! a4ress 9 #ac = \r approval4



                                     #bi
        ,t]m9,n (! specim5 fund      f#e
    
#ch4 ,let u "k :5 y >e no l;g] m>ket+ a
  specim5 fund 0writ+ 6u at ! a4ress 9
  #ac4 ,al let u "k :5 "! >e no l;g] any
  \t/&+ ,,rrif's t 3=m 6! specim5 fund4
--------------------------------------#f
            ,issu+ receipts
    
#ci4 ,y %d issue a receipt = prop]ty t y
  rcv =a ,,rrif "u p>agraph #fj7l74 ,?
  9cludes3
  --funds directly transf]r$ f a matur$
    ,,rrsp 7-mut,n pay;t "u an ,,rrsp
    annu;y72 &
  --am.ts pd 6a qualifi$ b5efici>y z a
    refund ( premiums f an unmatur$
    ,,rrsp or z a designat$ b5efit f
    ano!r ,,rrif 7only a sp\se1 -mon-law
    "pn]1 or f9anci,y dep5d5t * or
    gr&*ild c 2 a qualifi$ b5efici>y74
  ,! issu] ( an annu;y %d al give !
  annuitant a receipt :5 an excess pay;t

                                     #cj
              #gh-ah;,r#f            a#f
  f a ,,rrif is us$ 6pur*ase an annu;y
  "u p>agraph #fj7l74 7,see #ej & #ea7
#dj4 ,! docu;t y issue z a receipt %d
  cle>ly 9dicate t x ref]s 6a ,,rrif or
  an annu;y pur*as$ )! s+le pay;t f !
  ,,rrif1 & %d 9/ruct ! annuitant 6atta*
  x 6his or h] p]sonal 9come tax return4
  ,! docu;t %d 2 no wid] ?an #ba.e
  c5timetres 7! wid? ( an 9come tax
  return7 & %d record ! foll[+3
  7a7 "n (! ,,rrif c>ri] or issu] (!
    annu;y2
  7b7 signature ( an au?oriz$ (ficial2
  7c7 3tract or >range;t numb]2
  7d7 annuitant's "n1 a4ress1 & social
    9sur.e numb]2
  7e7 total am.t ( funds rcvd2 &
  7f7 date pay;t rcvd4
  
  ,if y issue receipts 9 duplicate1
  cle>ly id5tify ! copy & su7e/ t !
  annuitant keep x = 8 or h] p]sonal
  records4
                                     #ca
              #gh-ah;,r#f            b#f
#da4 ,reg>d+ #dj7b71 y c issue receipts
  t be> a facsimile signature ( an
  au?oriz$ (ficial1 )\t c.t]sign+ or
  9itiall+1 if ! receipts >e s]i,y
  numb]$ &a copy is reta9$ at yr h1d
  (fice1 or1 = an annu;y pur*ase1 at !
  h1d (fice (! issu] (! annu;y4
#db4 ,= m 9=m,n on :5 6issue receipts1
  see ,app5dix ;,f (! ,t#d;,,rsp &
  ,t#d;,,rif ,guide4 ,x al provides
  9=m,n on report+ & deduct+ am.ts pd1
  or 3sid]$ 6be pd1 f a ,,rrif4 ,y c get
  a copy (! guide at any ,,ccra tax
  s]vices (fice or on \r ,web site at
  _+www.ccra.gc.ca_:4

      ,transf] ( funds f a ,,rrif
        6ano!r ,,rrif or ,,rrsp
    
#dc4 ,if a ,,rrif annuitant wi%es
  6transf] prop]ty f t ,,rrif 6ano!r
  retire;t 9come fund =! same annuitant
  or 6a retire;t sav+s plan =! same
  annuitant1 y &! annuitant m/ f/    #cb
              #gh-ah;,r#f            c#f
  5sure t ! fund or plan 6: ! transf] is
  6be made is regi/]$1 or t x w qualify
  = regi/r,n4
#dd4 ,if y transf] ! ,,rrif prop]ty 6a
  new specim5 fund1 :e!r x is "o ( yr
  specim5 funds or a specim5 fund (
  ano!r c>ri]1 ! annuitant m/ ask y or !
  o!r c>ri] 6apply = regi/r,n (! fund
  7see #cb74 ,if ! transf] is 6an ,,rsp1
  ! annuitant m/ ask ! issu] 6apply =
  regi/r,n (! plan z \tl9$ 9 ! curr5t
  v].n ( ,9=m,n ,circul> #gb-bb1
  ,regi/]$ ,retire;t ,sav+s ,plans4
#de4 ,a ,,rrif annuitant c use ,=m
  ,t#bjcc1 ,direct ,transf] ,"u
  ,p>agraph #adf7#af77a7 or
  #adf.c7#b77e71 or any o!r me?od1
  6reque/ a direct transf] ( all or "p
  (! prop]ty (! ,,rrif exce$+ ! m9imum
  am.t 6ano!r ,,rrif4 ,! annuitant does
  n h 69clude ! transf]r$ am.t 9 9come4
#df4 ,a ,,rrif annuitant c use ,=m
  ,t#bjcj1 ,direct ,transf] ,"u
  ,p>agraph #fj7l77;v71 or any o!r   #cc
              #gh-ah;,r#f            d#f
  me?od1 6reque/ a direct transf] (!
  pay;t exce$+ ! m9imum am.t 6an ,,rrsp4
  ,! c>ri] (! ,,rrif m/ report ! excess
  pay;t transf]r$ &! m9imum am.t pd 6!
  annuitant on ! ,t#d;,,rif slip4 ,!
  issu] (! ,,rrsp %d issue a tax receipt
  =! excess pay;t rcvd4
#dg4 ,y d n ne$ 6use ,=m ,t#bjcc if y >e
  ! c>ri] ( bo? ,,rrif's1 or ,=m ,t#bjcj
  if y >e ! c>ri] (! ,,rrif &! issu] (!
  ,,rrsp1 if all ! 9=m,n t o!rwise wd 2
  suppli$ on ei ( ^! =ms is record$ "u !
  rcvg fund or plan4
#dh4 ,d n deduct 9come tax f funds
  prop]ly transf]r$4 ,y h 6reta9
  su6ici5t funds 2f transf] 6make !
  m9imum am.t pay;t = t ye> ,7see #ai7e7
  to 7e4#b77'4 ,y c f9d m 9=m,n on ! =ms
  6use 9 ! ,t#d;,,rsp & ,t#d;,,rif
  ,guide4 ,! guide & =ms >e availa# at
  any ,,ccra tax s]vices (fice or on \r
  ,web site at _+www.ccra.gc.ca_:4

                                     #cd
        ,transf] 2t ,,rrif's or      e#f
      ,,rrif 6,,rrsp on m>riage or
        -mon-law "pn]%ip br1kd[n
    
#di4 ,=m ,t#bbbj1 ,transf] f an ,,rrsp
  or a ,,rrif 6,ano!r ,,rrsp or ,,rrif
  on ,m>riage ,br1kd[n1 is us$ 6reque/ a
  transf] ( prop]ty "u a writt5 sep>,n
  agree;t or "u a decree1 ord]1 or
  judg;t (a -pet5t tribunal relat+ 6a
  divi.n ( prop]ty on br1kd[n (a m>riage
  or -mon-law "pn]%ip4 ,a ,,rrif
  annuitant c use ? =m 6reque/ a transf]
  ( prop]ty f a ,,rrif 6a ,,rrif or
  ,,rrsp "u : ! annuitant's sp\se or
  -mon-law "pn] or =m] sp\se or -mon-law
  "pn] is ! annuitant4 ,see ! ,t#d;,,rsp
  & ,t#d;,,rif ,guide = m 9=m,n on
  -plet+ ! transf]4

          ,pur*ase ( an annu;y
    
#ej4 ,a ,,rrif annuitant c use ,=m
  ,t#bjcj1 ,direct ,transf] ,"u
  ,p>agraph #fj7l77;v71 6reque/ a    #ce
              #gh-ah;,r#f            f#f
  direct transf] (a pay;t exce$+ !
  m9imum am.t (! ,,rrif 6a p]son lic5s$
  or o!rwise au?oriz$ "u ! laws (
  ,canada or a prov9ce 6c>ry on an
  annuities busi;s 9 ,canada =! pur*ase
  ( an annu;y =!
--------------------------------------#g
  annuitant4 ,y m/ report ! m9imum am.t
  =! ye> &! transf]r$ pay;t on a
  ,t#d;,,rif slip4 ,! issu] (! annu;y %d
  issue a receipt 7see #ci7 %[+ ! date &
  am.t (! s+le pay;t us$ 6pur*ase !
  annu;y4
#ea4 ,! annu;y t is pur*as$ c 2 =! life
  (! annuitant or =! lives jo9tly (!
  annuitant &! annuitant's sp\se or
  -mon-law "pn]1 ) or )\t a gu>ante$
  t]m4 ,! gu>ante$ t]m _c 2 m ?an #ij
  ye>s m9us3
  7a7 ! annuitant's age at ! "t (
    pur*ase2 or
  7b7 ! age (! annuitant's sp\se or
    -mon-law "pn] at ! "t ( pur*ase4
                                     #cf
              #gh-ah;,r#f            a#g
  ,! annu;y c al 2 a fix$-t]m annu;y )a
  t]m equal 6#ij ye>s m9us3
  7a7 ! annuitant's age at ! "t (
    pur*ase2 or
  7b7 ! age (! annuitant's sp\se or
    -mon-law "pn] at ! "t ( pur*ase4
  ,! annu;y has 62g9 mak+ pay;ts no lat]
  ?an a ye> af x is pur*as$4 ,! annu;y
  _c provide = any pay;ts except3
  7a7 annual or m frequ5t p]iodic pay;ts
    t >e equal 6ea* o!r or unequal only
    2c ( adju/;ts describ$ 9
    subp>agraphs #adf7#c77b77;iii7 to
    7;v72 &
  7b7 pay;ts 9 full or "pial -mut,n (!
    annu;y &1 :5 ! -mut,n is "pial1
    annual or m frequ5t p]iodic pay;ts
    af ! -mut,n t >e equal 6ea* o!r or
    unequal only 2c ( adju/;ts describ$
    9 subp>agraphs #adf7#c77b77;iii7 to
    7;v74
  
  
                                     #cg
             ,tax,n (a tru/          b#g
    
#eb4 ,a tru/ gov]n$ 0a ,,rrif is exempt
  f tax,n except 9 ! foll[+ situ,ns3
  7a7 ,a tru/ gov]n$ 0a ,,rrif is taxa#
    on all xs taxa# 9come =a tax ye> if3
    7;i7 ! tru/ 0 gov]n$ 0a fund t 2came
      an 8am5d$ fund0 z ref]r$ 6in
      subsec;n #adf.c7#aa72
    7;ii7 ! tru/ borr[$ m"oy dur+ ! tax
      ye> or ! tru/ borr[$ m"oy 9 a
      previ\s tax ye> t 0 n repd 2f !
      2g9n+ (! ye>2 or
    7;iii7 ! tru/ rcvd a gift ( prop]ty
      7o!r ?an a transf] f an ,,rrsp or
      ,,rrif "u : ! 9dividual is !
      annuitant7 9 ! ye> or 9 a previ\s
      tax ye> & did n dive/ xf (!
      prop]ty1 or any prop]ty sub/itut$
      = x1 2f ! 2g9n+ (! ye>4
  7b7 ,:5 ! la/ annuitant "u a ,,rrif
    dies & all ! funds >e n pd \ (! tru/
    9 ! ye> ( d1?1 ! tru/ is taxa# on xs
    taxa# 9come = ea* ye> af ! ye>
    foll[+ ! ye> ( d1?4 ,? applies   #ch
              #gh-ah;,r#f            c#g
    6! #aiic & subsequ5t tax ye>s4 ,2f
    #aiic1 ! tru/ 0 taxa# on xs taxa#
    9come = ea* ye> af ! ye> ( d1? (!
    la/ annuitant4
  7c7 ,:5 a tru/ gov]n$ 0a ,,rrif has
    c>ri$ on any busi;s 9 a tax ye> &
    7a7 abv does n apply1 ! tru/ is
    taxa# on xs busi;s 9come =! ye>-t
    is1 xs 9come =! ye> -put$ )\t ref];e
    69comes or losses f s\rces o!r ?an !
    busi;s4 ,= #aiic & subsequ5t tax
    ye>s1 ! tru/ is n taxa# on any
    busi;s 9come attributa# 6xs 9come f1
    or f ! 4posi;n (1 qualifi$ 9ve/;ts
    7see #ef7 =! tru/4
  7d7 ,:5 a tru/ gov]n$ 0a ,,rrif has
    acquir$ a prop]ty t is n a qualifi$
    9ve/;t1 ! tru/ is subject 6tax on xs
    taxa# 9come calculat$ on ! assump;n
    t3
    7;i7 x only _h 9come 79clud+
      divid5ds describ$ 9 sec;n #hc (!
      ,act7 f non-qualifi$ 9ve/;ts2 &
                                     #ci
              #gh-ah;,r#f            d#g
    7;ii7 ! taxa# capital ga9s & all[a#
      capital losses equall$ ! capital
      ga9s & capital losses1
      respectively1 f ! 4posi;ns ( only
      non-qualifi$ 9ve/;ts4
  7e7 ,a tru/ gov]n$ 0a ,,rrif is lia# =
    taxes1 calculat$ at ! 5d ( ea* mon?1
    : >e g5],y equal 6#a@3p (3
    7;i7 ! am.t 0: ! tru/'s co/ am.t (
      9ve/;ts 9 =eign prop]ty 7exclud+
      =eign prop]ty t al 3/itutes a non-
      qualifi$ 9ve/;t7 exce$s ! all[a#
      por;n2 &
    7;ii7 ! fair m>ket values1 at ! "t (
      acquisi;n1 ( non-qualifi$ 9ve/;ts
      held at mon?-5d 7exclud+ ! fair
      m>ket value ( prop]ty t 0 9clud$ 9
      ! annuitant's 9come "u subsec;n
      #adf.c7#g7--see #ef 2l74
  7f7 ,:51 af ,april #be1 #aiie1 a tru/
    gov]n$ 0a ,,rrif 5t]s 96an agree;t
    7o!rwise ?an z a result ( acquir+ or
    writ+ an op;n li/$ on a prescrib$
    /ock ex*ange7 6acquire a %>e     #dj
              #gh-ah;,r#f            e#g
    (! capital /ock (a corpor,n 7o!rwise
    ?an f ! corpor,n7 at a price t may
    di6] f ! fair m>ket value (! %>e at
    ! "t ! %>e may 2 acquir$1 ! tru/ is
    subject 6tax dur+ any mon? x is "py
    6! agree;t4 ,! tax paya# is equal 6!
    am.t ( divid5ds pd on ! %>e at a "t
    9 ! mon? t ! tru/ is a "py 6!
    agree;t m9us ! am.t (! divid5ds rcvd
    0! tru/4
  ,any tax paya# 0a tru/ "u 7e7 & 7f7
  abv1 al? calculat$ mon?ly1 is paya# )!
  annual return t has 6be fil$ on 2half
  (! tru/4

        ,tru/ 9come tax returns
    
#ec4 ,a tru/ -pany act+ z tru/ee (a tru/
  gov]n$ at any "t 9 ! ye> 0a ,,rrif has
  6-plete ,=m ,t#c;,,ind1 ,t#c;,,ind
  ,9come ,tax ,return = ,,rrsp1 ,,rrif1
  or ,,resp1 un.s ! tru/ -pany has
  prop]ly satisfi$ ? fil+ require;t
  0fil+ ,=m ,t#c;,g1 ,c]tific,n (    #da
              #gh-ah;,r#f            f#g
  ,no ,tax ,liabil;y 0a ,gr\p (
  ,,rrsp's1 ,,rrif's1 or ,,resp's4 ,x
  has 6file ! return no lat] ?an #ij "ds
  af ! 5d (! ye>4
--------------------------------------#h
     ,tax,n (! annuitant--,*ange 9
            fund af regi/r,n
    
#ed4 ,if ! fund is revis$ or am5d$1 or a
  new fund is sub/itut$ = x1 af
  regi/r,n1 )! result t ! fund fails
  6-ply )! require;ts ( sec;n #adf.c1 !
  ,,rrif w no l;g] 2 3sid]$ 6be a
  ,,rrif4 ,! fund is deem$ 6be an am5d$
  fund &1 3sequ5tly1 ! annuitant has
  69clude ! fair m>ket value (! prop]ty
  (! fund z (! "d ( *ange 9 9come =! ye>
  9 : ! fund 2comes am5d$4





                                     #db
         ,tax,n (! annuitant--       a#h
      ,acquisi;n & 4posi;n ( non-
            qualifi$ 9ve/;ts
    
#ee4 ,qualifi$ 9ve/;ts =a tru/ gov]n$ 0a
  ,,rrif >e def9$ "u subsec;n #adf.c7#a7
  & sec;n #dijj (! ,9come ,tax
  ,regul,ns4
#ef4 ,:5 a ,,rrif tru/ acquires prop]ty
  t 0 n a qualifi$ 9ve/;t :5 acquir$1 or
  uses or p]mits a prop]ty (! tru/ 6be
  us$ z secur;y =a loan1 ! annuitant "u
  ! fund at t "t has 69clude 9 9come = t
  tax ye> ! fair m>ket value (! prop]ty
  t 0 n a qualifi$ 9ve/;t1 or ! fair
  m>ket value (! prop]ty us$ z a
  secur;y4 ,subp>agraph #eb7e77;ii7
  id5tifies taxes paya# 0a ,,rrif tru/ t
  has "o or m 9ve/;ts t 7 qualifi$
  9ve/;ts :5 acquir$ b 2came non-
  qualifi$1 & #eb7d7 abv 4cusses taxes
  paya# 0a ,,rrif tru/ on ! 9come f a
  non-qualifi$ 9ve/;t4
#eg4 ,:5 ! tru/ 4poses ( prop]ty t 0 n a
  qualifi$ 9ve/;t :5 acquir$1 !      #dc
              #gh-ah;,r#f            b#h
  annuitant c deduct f 9come 9 ! ye> (
  4posi;n ! am.t t 0 9clud$ 9 9come at !
  "t ( acquisi;n1 or ! proce$s (
  4posi;n1 :i*"e is less4 ,:5 an
  annuitant has a4$ 69come ! fair m>ket
  value ( tru/ prop]ty us$ z secur;y =a
  loan1 ! annuitant c deduct t fair
  m>ket value 7less ! net loss1 exclud+
  9t]e/ pay;ts1 9curr$ 2c (! use z
  secur;y7 f 9come 9 ! ye> 9 : ! prop]ty
  c1ses 6be us$ z secur;y4
#eh4 ,z expla9$ 9 ,9t]pret,n ,bullet9
  ,,it-#djh;,r1 ,life ,9sur.e ,policies
  z ,9ve/;ts ( ,regi/]$ ,retire;t ,sav+s
  ,plans & ,def]r$ ,pr(it ,%>+ ,plans1 !
  provi.ns ( sec;n #adf 3c]n+ !
  acquisi;n ( non-qualifi$ 9ve/;ts may n
  alw apply :5 an ,,rrsp tru/ acquires
  an 9t]e/ 9 or pays am.ts "u a life
  9sur.e policy4 ,! same is n true =a
  ,,rrif tru/4 ,! provi.ns ( sec;n
  #adf.c 3c]n+ ! acquisi;n ( non-
  qualifi$ 9ve/;ts 0a ,,rrif tru/ w alw
  apply :5 ! ,,rrif tru/ acquires    #dd
              #gh-ah;,r#f            c#h
  an 9t]e/ in1 or pays an am.t "u1 a
  life 9sur.e policy4

     ,tax,n (! annuitant--,pur*ase
     or sale ( prop]ty = 9adequate
                3sid],n
    
#ei4 ,if a ,,rrif tru/ acquires prop]ty
  =a 3sid],n grt] ?an ! fair m>ket value
  (! prop]ty at ! "t ( acquisi;n1 or
  4poses ( prop]ty =a 3sid],n less ?an !
  fair m>ket value at t "t or = no
  3sid],n1 ! annuitant (! ,,rrif at t "t
  m/ 9clude twice ! di6];e 2t ! fair
  m>ket value &! 3sid],n1 if any1 9
  calculat+ 8 or h] 9come =! tax ye>4

             ,a4i;nal 9=m,n
    
#fj4 ,y c f9d m 9=m,n 9 ! curr5t v].n (!
  foll[+ public,ns1 : >e availa# at any
  ,,ccra tax s]vices (fice or on \r ,web
  site at _+www.ccra.gc.ca_:4
                                     #de
              #gh-ah;,r#f            d#h
  ,t#djdj ,,rrsp's & ,o!r ,regi/]$
    ,plans = ,retire;t ,guide
  ,t#djgi ,t#d;,,rsp & ,t#d;,,rif ,guide
  ,,rc#dagh ,d1? (a ,,rrif ,annuitant
  ,,ic #gh-ad ,guidel9es = ,tru/
    ,-panies & ,o!r ,p]sons ,responsi# =
    ,fil+ ,t#c;,,ind1 ,t#c;,g1 ,t#c;,d1
    ,t#c;,p1 ,t#c;,s1 ,t#c;,,ri1 &
    ,t#c;,f ,returns
  ,,it-#dab ,=eign ,prop]ty ( ,regi/]$
    ,plans
  ,,it-#ebh ,transf]s ( ,funds ,2t
    ,regi/]$ ,plans
  
             ,p]sonal 9=m,n
    
#fa4 ,! 9=m,n t we obta9 = tax purposes
  is /rictly 3fid5tial4 ,only ! taxpay]
  or a p]son ! taxpay] or ! law
  au?orizes has a3ess 6? 9=m,n4

  ,! ,privacy ,act &! ,a3ess 6,9=m,n
  ,act re9=ce ? protec;n4
                                     #df