,CANADA ,CU/OMS
            & ,REV5UE ,AG5CY

              ,9COME ,TAX
          ,9T]PRET,N ,BULLET9
              ,,IT-#EJJ;,R

             ,9 ,"O ,VOLUME
           ,PR9T ,PAGES #A-AA
       ,BRL ,PAGES ;I-;II & #A-FC
    
































                 ,9DEX
    
                               ,BRL PAGE
,APPLIC,N """"""""""""""""""""""""""" #A
,SUMM>Y """"""""""""""""""""""""""""" #B
,4CUS.N & ,9T]PRET,N """""""""""""""" #C
,M1N+ ( ANNUITANT """"""""""""""""""" #E
,M1N+ ( MATUR;Y ( AN ,,RRSP """"""""" #F
,M1N+ ( SP\SE """"""""""""""""""""""" #G
,G5]AL RULE = B5EFIT AT D1? """"""""" #H
,REDUC;N ( B5EFIT AT D1?--,,RRSP
  PROP]TY RECEIVA# 0SP\SE """"""""""" #H
,REDUC;N ( B5EFIT AT D1?--,REFUND
  ( PREMIUMS """"""""""""""""""""""" #AC
,REDUC;N ( B5EFIT AT D1?--
  ,DESIGNAT$ REFUND ( PREMIUMS """"" #AG
,PAY;TS \ ( AN ,,RRSP FOLL[+ !
  ANNUITANT'S D1? """""""""""""""""" #BJ
,JO9T & S"EAL LIABIL;Y = AM.TS RCV
  \ ( AN ,,RRSP """""""""""""""""""" #BB
,REFUND ( PREMIUMS--,G5]AL -;TS """" #BD
,REFUND ( PREMIUMS \ ( AN UNMATUR$
  ,,RRSP """"""""""""""""""""""""""" #BF

                                      ;I
                 ,9DEX
,REFUND ( PREMIUMS \ (A MATUR$
  ,,RRSP """"""""""""""""""""""""""" #DB
,ROLLOV] PROVI.NS """""""""""""""""" #DB
,REFUND ( PREMIUMS OR -MUT,N PAY;T
  --,:E!R 8QUALIFI$ P5.N 9COME0 OR
  8P5.N 9COME0 """"""""""""""""""""" #DF
,PAY;TS & DEEM$ PAY;TS 6NON-
  RESID5TS """"""""""""""""""""""""" #DH
,EXPLAN,N ( ,*ANGES = ,9T]PRET,N
  ,BULLET9 ,,IT-#EJJ;,R ,REGI/R$
  ,RETIRE;T ,SAV+S ,PLANS--,D1? (
  AN ,ANNUITANT """""""""""""""""""" #EC
  ,9TRODUC;N """"""""""""""""""""""" #EC
  ,OV]VIEW """"""""""""""""""""""""" #EC
  ,LEGISLATIVE & ,O!R ,*ANGES """""" #ED








                                     ;II
,CANADA ,CU/OMS                       #A
& ,REV5UE ,AG5CY

              ,9COME ,TAX
          ,9T]PRET,N ,BULLET9
    
,SUBJECT3 ,9COME ,TAX ,ACT
  ,REGI/]$ ,RETIRE;T ,SAV+S ,PLANS--,D1?
  ( AN ,ANNUITANT
,NUMB]3 ,,IT-#EJJ;,R
,DATE3 ,DECEMB] #AH1 #AIIF
,REF];E3 ,SEC;N #ADF 7AL SEC;N #AFJ.B1
  SUBSEC;NS #AJD7#F71 7#AB71 7#AC7 &
  7#AD71 #AAH7#C7 & 7#G71 #BAD7#C71
  #BDH7#H7 & #BEB7#D71 & P>AGRAPHS
  #FJ7,L71 #AAH7#A77,C71 #BAB7#A77,C7 &
  7,L7 (! ,9COME ,TAX ,ACT7

               ,APPLIC,N
    
  ,? BULLET9 REPLACES & C.ELS ,9T]PRET,N
,BULLET9 ,,IT-#EJJ DAT$ ,DECEMB] #G1
#AIHC4 ,! -;TS 9 ? BULLET9 G5],Y APPLY
6D1?S O3URR+ AF #AIIB4
                                      #A
                ,SUMM>Y              A#A
    
  ,? BULLET9 4CUSSES ! 9COME TAX TR1T;T
( PAY;TS \ (A REGI/]$ RETIRE;T SAV+S
PLAN 7,,RRSP7 MADE ON OR AF ! D1? ( AN
ANNUITANT4
  ,G5],Y1 IF ! ANNUITANT (A MATUR$
,,RRSP DIES1 ! DEC1S$ ANNUITANT M/
9CLUDE 9 9COME AN AM.T EQUAL 6! FAIR
M>KET VALUE ( ALL PROP]TY (! ,,RRSP AT
D1?4 ,H["E1 ? G5]AL RULE W N APPLY IF !
ANNUITANT'S SP\SE 2COMES 5TITL$ 6!
ANNU;Y4 ,9 SITU,NS ": ! SP\SE IS N !
B5EFICI>Y1 ! ANNU;Y PAY;TS M/ 2 -MUT$ &!
G5]AL RULE ABV W APPLY1 UN.S ! PAY;TS >E
MADE 6A F9ANCI,Y DEP5D5T * OR GR&*ILD &
QUALIFY Z A REFUND ( PREMIUMS4
  ,SIMIL> 6! G5]AL RULE = MATUR$
,,RRSP'S1 IF ! ,,RRSP DID N MATURE 2F !
ANNUITANT'S D1?1 ! DEC1S$ ANNUITANT M/
9CLUDE 9 9COME AN AM.T EQUAL 6! FAIR
M>KET VALUE ( ALL PROP]TY (! ,,RRSP AT
D1?4 ,H["E1 ANY AM.T PD Z A REFUND (
PREMIUMS 6! DEC1S$'S SP\SE OR F9ANCI,Y
                                      #B
              ,,IT-#EJJ;,R           B#A
DEP5D5T *N OR GR&*N MAY 2 DEDUCT$ 6(FSET
"P OR ALL ( ? 9COME 9CLU.N4
  ,A REFUND ( PREMIUMS W G5],Y 2 TAXA# 9
! H&S (! RECIPI5T B MAY1 9 C]TA9
CIRCUM/.ES1 2 ROLL$ OV] 6A B5EFICI>Y'S
,,RRSP OR O!R TAX DEF]R$ PLAN4 ,H["E1
ANY POR;N (! REFUND ( PREMIUMS 9CLUD$ 9
! DEC1S$'S 9COME IS N TAXA# Z A B5EFIT
6! B5EFICI>Y & _C 2 TRANSF]R$ 6ANO!R S*
PLAN4
  ,! BULLET9 AL 4CUSSES ! ROLLOV]
PROVI.NS AVAILA# 6^? TAXPAY]S :O RCV A
REFUND ( PREMIUMS1 :E!R OR N ,,RRSP
PAY;TS RCVD AF ! D1? (! ANNUITANT
QUALIFY =! NON-REFUNDA# TAX CR$IT =
ELIGI# P5.N 9COME1 & PAY;TS & DEEM$
PAY;TS F AN ,,RRSP 6NON-RESID5TS4

          ,4CUS.N & ,9T]PRET,N
    
#A4 ,! SUBJECT MATT] ( ? BULLET9 IS
  >RANG$ "U ! FOLL[+ H1D+S3

                                      #C
              ,,IT-#EJJ;,R           C#A
                              ,P>AGRAPHS
,M1N+ ( ANNUITANT """"""""""""""""""" #B
,M1N+ ( MATUR;Y ( AN ,,RRSP """"""""" #C
,M1N+ ( SP\SE """"""""""""""""""""""" #D
,G5]AL RULE = B5EFIT AT D1? """"""""" #E
,REDUC;N ( B5EFIT AT D1?--,,RRSP
  PROP]TY RECEIVA# 0SP\SE """"""""" #F-H
,REDUC;N ( B5EFIT AT D1?--,REFUND
  ( PREMIUMS """""""""""""""""""""""" #I
,REDUC;N ( B5EFIT AT D1?--
  ,DESIGNAT$ REFUND ( PREMIUMS "" #AJ-AA
,PAY;TS \ ( AN ,,RRSP FOLL[+ !
  ANNUITANT'S D1? """"""""""""""" #AB-AC
,JO9T & S"EAL LIABIL;Y = AM.TS
  RCV \ ( AN ,,RRSP """"""""""""" #AD-AF
,REFUND ( PREMIUMS--,G5]AL -;TS   #AG-AH
,REFUND ( PREMIUMS \ ( AN
  UNMATUR$ ,,RRSP """"""""""""""" #AI-BE
,REFUND ( PREMIUMS \ (A MATUR$
  ,,RRSP """"""""""""""""""""""""""" #BF
,ROLLOV] PROVI.NS """"""""""""""" #BG-BH


                                      #D
              ,,IT-#EJJ;,R           D#A
,REFUND ( PREMIUMS OR -MUT,N
  PAY;T--,:E!R 8QUALIFI$ P5.N
  9COME0 OR 8P5.N 9COME0 """"""""""" #BI
,PAY;TS & DEEM$ PAY;TS 6NON-
  RESID5TS """""""""""""""""""""" #CJ-CD

           ,M1N+ ( ANNUITANT
    
#B4 ,ANNUITANT IS DEF9$ 9 SUBSEC;N
  #ADF7#A7 & BASIC,Y M1NS ! 9DIVIDUAL =
  :OM A RETIRE;T SAV+S PLAN PROVIDES A
  RETIRE;T 9COME4 ,! DEF9I;N PROVIDES T
  AF MATUR;Y ( AN ,,RRSP & FOLL[+ AN
  9DIVIDUAL'S D1?1 ! 9DIVIDUAL'S SP\SE
  QUALIFIES Z ! ANNUITANT :51 Z A
  3SEQU;E (! 9DIVIDUAL'S D1?1 ! SP\SE
  2COMES 5TITL$ 6RCV B5EFITS \ ( OR "U !
  ,,RRSP4 ,! EXPRES.N 82COMES 5TITL$ TO0
  9 ! DEF9I;N IS 3SID]$ 6APPLY ONLY
  6CASES ": B5EFITS 2COME RECEIVA# Z A
  RESULT (! SP\SE 2+ DESIGNAT$ "U !
  ,,RRSP Z A B5EFICI>Y4 ,? IS 2C1 9 !
  ABS;E ( S* A DESIGN,N1 ! SP\SE _C 5=CE
  PAY;T F !                           #E
              ,,IT-#EJJ;,R            #B
  ,,RRSP &! TRU/EES (! E/ATE (! DEC1S$
  9DIVIDUAL D N H ! P[] 6E6ECT A VALID
  PAY;T 6! SP\SE P]SON,Y4

      ,M1N+ ( MATUR;Y ( AN ,,RRSP
    
#C4 ,"U SUBSEC;N #ADF7#A71 ! MATUR;Y (
  AN ,,RRSP O3URS AT ! DATE FIX$ "U !
  PLAN =! -M;E;T ( ANY RETIRE;T 9COME1 !
  PAY;T ( : IS PROVID$ = 0! PLAN4
  ,RETIRE;T 9COME IS USU,Y 9 ! =M (
  MON?LY ANNU;Y PAY;TS4 ,P>AGRAPH
  #ADF7#B77B4#D7 PROVIDES T MATUR;Y M/
  O3UR 2F ! YE> 9 : ! ANNUITANT 2COMES
  #GB YE>S ( AGE4

,,NOTE3
  ,Z ANN\NC$ 9 ! ,M>* #F1 #AIIF ,F$]AL
  ,BUDGET 0! ,M9I/] ( ,F9.E1 X IS
  PROPOS$ T ! LATE/ "T AT : AN ,,RRSP C
  MATURE1 OR RETIRE;T B5EFITS "U AN
  ,,RRSP C G5],Y -M;E1 W 2 ! 5D (! YE> 9
  : ! ANNUITANT 2COMES #FI YE>S ( AGE4
  ,! PROPOS$ *ANGE W 2 DEF]R$ = "O    #F
              ,,IT-#EJJ;,R           A#B
  YE> = 9DIVIDUALS :O >E #FI YE>S OLD AT
  ,DECEMB] #CA1 #AIIF4 ,9 A4I;N1 !
  PROPOS$ *ANGE W N APPLY 6AN 9DIVIDUAL
  :O IS #GJ YE>S OLD AT ,DECEMB] #CA1
  #AIIF1 OR 6AN 9DIVIDUAL ^: ,,RRSP
  ANNU;Y 3TRACT HAS A FIX$ -M;E;T DATE &
  0 ACQUIR$ 2F ,M>* #F1 #AIIF4

             ,M1N+ ( SP\SE
    
#D4 ,SUBSEC;N #BEB7#D7 EXP&S ! M1N+ (
  SP\SE 69CLUDE C]TA9 -MON-LAW C\PLES4

  ,! T]M 8SP\SE0 DOES N 9CLUDE A =M]
  SP\SE4 ,= EXAMPLE1 AT ! "T ( D1?1 !
  ANNUITANT MAY 2 DIVORC$ OR !
  ANNUITANT'S SP\SE MAY H PREDEC1S$ !
  ANNUITANT4





                                      #G
      ,G5]AL RULE = B5EFIT AT D1?    B#B
    
#E4 ,:5 ! ANNUITANT "U AN ,,RRSP DIES
  7:E!R 2F OR AF XS MATUR;Y71 SUBSEC;N
  #ADF7#H.H7 DEEMS ! ANNUITANT 6H RCVD1
  IMMLY 2F D1?1 A B5EFIT "U ! ,,RRSP4
  ,SUBJECT 6! -;TS 9 #F 6#AA 2L1 ! AM.T
  (! B5EFIT IS EQUAL 6! FAIR M>KET VALUE
  ( ALL PROP]TY (! ,,RRSP AT D1? & IS
  9CLUD$ 9 ! ANNUITANT'S 9COME "U
  SUBSEC;N #ADF7#H74

  ,9 A SITU,N ": AN ANNUITANT "U AN
  ,,RRSP DIES &! ,,RRSP MATUR$ 2F ,JUNE
  #CJ1 #AIGH1 REF] 6! LAW4

    ,REDUC;N ( B5EFIT AT D1?--,,RRSP
        PROP]TY RECEIVA# 0SP\SE
    
#F4 ,IF ! ANNUITANT (A MATUR$ ,,RRSP _H
  A SP\SE AT ! "T (! ANNUITANT'S D1? :O
  0 DESIGNAT$ Z A B5EFICI>Y "U ! ,,RRSP1
  &A POR;N (! PROP]TY 9 ! ,,RRSP 2COMES
  RECEIVA# 0! SP\SE 7OR WD 2COME
  RECEIVA# 0! SP\SE IF ! SP\SE        #H
              ,,IT-#EJJ;,R           C#B
  SURVIVES "?\T ALL GU>ANTE$ T]MS 3TA9$
  9 ! PLAN7 Z A 3SEQU;E (! ANNUITANT'S
  D1?1 SUBSEC;N #ADF7#H.H7 DEEMS !
  ANNUITANT 6H RCVD A B5EFIT "U ! PLAN
  ONLY 6! EXT5T (! EXCESS (! AM.T REF]R$
  6IN #E ABV OV] ! FAIR M>KET VALUE AT !
  "T ( D1? (! POR;N RECEIVA# 0! SP\SE4
#G4 ,:53
  7A7 ! ANNUITANT DIES AF ! MATUR;Y ( AN
    ,,RRSP2
  7B7 ! LEGAL REPRES5TATIVE (! ANNUITANT
    2COMES 5TITL$1 Z A 3SEQU;E (! D1?1
    6RCV AM.TS "U ! MATUR$ ,,RRSP =!
    B5EFIT (! ANNUITANT'S SP\SE2 &
  7C7 ! LEGAL REPRES5TATIVE &! SP\SE
    FILE A JO9T ELEC;N 9 PRESCRIB$ =M "U
    SUBSEC;N #ADF7#H.IA7 )! ,M9I/] (
    ,N,NAL ,REV5UE1
  ! SP\SE IS DEEM$ 6H 2COME ! ANNUITANT
  "U ! ,,RRSP &! AM.TS T ! LEGAL
  REPRES5TATIVE IS 5TITL$ 6RCV >E DEEM$
  RECEIVA# 0! SP\SE4 ,:5 PD1 S* AM.TS >E
  DEEM$ 6BE RCVD DIRECTLY 0! SP\SE1 & N
  0ANY O!R P]SON1 Z A B5EFIT "U !     #I
              ,,IT-#EJJ;,R           D#B
  ,,RRSP4 ,! AM.TS DEEM$ 6BE RCVD 0!
  SP\SE >E 6BE 9CLUD$ 9 ! SP\SE'S 9COME
  "U SUBSEC;N #ADF7#H7 &! RULE 9 #F ABV
  APPLIES4 ,X IS N NEC T AM.TS RCVD 0!
  LEGAL REPRES5TATIVE 2 9 FACT PD 6!
  SP\SE4 ,IF NO ELEC;N IS MADE1 SUBSEC;N
  #ADF7#H.H7 W APPLY 6! DEC1S$ 7SEE #E
  ABV7 &! ACTUAL PAY;T \ (! ,,RRSP W !N
  2 RCVD 0! E/ATE TAX-FREE 6! EXT5T SET
  \ 9 #AB 2L4 ,3C]N+ ! POR;N (! AM.T
  RCVD 0! E/ATE Z 9COME1 ! E/ATE CD
  AVAIL XF (! PROVI.NS ( SUBSEC;N
  #AJD7#F7 OR #AJD7#AB71 IF APPLICA#1 &!
  SP\SE1 Z B5EFICI>Y1 WD 9CLUDE T AM.T 9
  9COME Z AN ,,RRSP B5EFIT "U SUBSEC;N
  #AJD7#AC7 OR #AJD7#AD74
#H4 ,= PURPOSES ( SUBSEC;N #ADF7#H.IA71
  ! LEGAL REPRES5TATIVE IS 3SID]$ 6RCV
  AM.TS =! B5EFIT (! SP\SE IF3
  --! W (! DEC1S$ REF]S SPECIFIC,Y 6!
    5TITLE;T (! SP\SE 6AM.TS PD "U !
    ,,RRSP2 OR
  
                                     #AJ
              ,,IT-#EJJ;,R           E#B
  --"U ! W (! DEC1S$ OR ! LAW GOV]N+
    9TE/ATE SU3ES.N1 ! SP\SE IS ! SOLE
    B5EFICI>Y (! E/ATE4
  ,SUBJECT 6! EXCEP;NS 2L1 SIMIL> TR1T;T
  W APPLY EV5 :5 ! SP\SE IS N ! SOLE
  B5EFICI>Y IF ! SP\SE'S B5EFICIAL 9T]E/
  IS AT L1/ L>GE 5 T ALL S* PAY;TS C
  R1SONABLY 2 ALLOCAT$ 6! SP\SE4 ,? AL
  9CLUDES CASES ":1 "U ! W1 ! LEGAL
  REPRES5TATIVE HAS ! P[] 65CROA* ON
  CAPITAL 9 FAV\R (! SP\SE &1 3SEQU5TLY1
  PROCE$S RCVD F ! ,,RRSP >E PD 6!
  SP\SE4

  ,! EXPRES.N =! B5EFIT (! SP\SE AL
  COV]S SITU,NS ":1 Z A RESULT (A
  4CLAIM] 0ANO!R B5EFICI>Y ( AN 9T]E/ 9
  ! E/ATE1 ! RESIDUE 9CLUD+ ! FUNDS
  DERIV$ F ! ,,RRSP C !N 2 4TRIBUT$ 6!
  SP\SE4 ,X AL COV]S SITU,NS ":1 Z A
  RESULT (A C\RT ORD] 9 REL,N 6! E/ATE
  MADE PURSUANT 6ANY LAW

                                     #AA
              ,,IT-#EJJ;,R            #C
  (A PROV9CE PROVID+ =! RELIEF OR
  SUPPORT ( DEP5DANTS1 ! SP\SE 2COMES
  5TITL$ 6RCV EI ! 5TIRE E/ATE OR !
  E/ATE'S 9T]E/ 9 ! ,,RRSP4

  ,SUBSEC;N #ADF7#H.IA7 _C 2 APPLI$ IF
  ONLY A POR;N ( S* PAY;TS C 2 ALLOCAT$
  6! SP\SE1 Z :5 DEBTS (! E/ATE H 6BE PD
  )! FUNDS F ! ,,RRSP4 ,AL1 SUBSEC;N
  #ADF7#H.IA7 DOES N APPLY IF3
  7A7 "! IS A SPECIFIC 2QUE/ ( ,,RRSP
    PROCE$S 6"S"O O!R ?AN ! SP\SE2
  7B7 ! SP\SE RCVS ONLY SPECIFIC 2QUE/S
    ( ASSETS O!R ?AN ,,RRSP PROCE$S2
  7C7 ! TOTAL 2QUE/ 6! SP\SE IS LESS ?AN
    ! ,,RRSP PROCE$S2 OR
  7D7 9 CASES ( 9TE/ACY1 ! 4TRIBU;N (
    ASSETS (! DEC1S$ ANNUITANT IS MADE
    ON ANY (! FOLL[+ BASIS3
    7;I7 ! SP\SE RCVS ONLY SPECIFIC
      ASSETS O!R ?AN ! ,,RRSP PROCE$S2
    7;II7 "S"O O!R ?AN ! SP\SE RCVS !
      ,,RRSP PROCE$S2 OR
                                     #AB
              ,,IT-#EJJ;,R           A#C
    7;III7 ! TOTAL AM.T 4TRIBUT$ 6!
      SP\SE IS LESS ?AN ! ,,RRSP
      PROCE$S4
    
   ,REDUC;N ( B5EFIT AT D1?--,REFUND
               ( PREMIUMS
    
#I4 ,SUBSEC;N #ADF7#H.I7 P]MITS A
  DEDUC;N F ! AM.T REF]R$ 6IN #E ABV IF3
  --! ANNUITANT ( AN UNMATUR$ ,,RRSP _H
    A SP\SE AT ! "T ( D1? &! SP\SE IS PD
    AN AM.T "U ! PLAN T QUALIFIES Z A
    REFUND ( PREMIUMS "U P>AGRAPH 7A7 (!
    DEF9I;N ( T T]M 9 SUBSEC;N #ADF7#A72
    OR
  --AN ANNUITANT _H NO SP\SE AT ! "T (
    D1? &! ANNUITANT'S F9ANCI,Y DEP5D5T
    * OR GR&*ILD IS PD AN AM.T "U ! PLAN
    7:E!R MATUR$ OR UNMATUR$7 T
    QUALIFIES Z A REFUND ( PREMIUMS "U
    P>AGRAPH 7B7 (! DEF9I;N ( T T]M 9
    SUBSEC;N #ADF7#A74
  ,! DEDUC;N ALL[$ "U SUBSEC;N
  #ADF7#H.I7 =A DEC1S$ ANNUITANT 9   #AC
              ,,IT-#EJJ;,R           B#C
  RESPECT ( AN ,,RRSP IS DET]M9$ AC 6!
  =MULA 2L4 ,A CALCUL,N IS ONLY REQUIR$
  :5 ! CIRCUM/.ES FALL \TSIDE TWO
  SITU,NS4 ,! F/ SITU,N IS T NO REFUNDS
  ( PREMIUMS >E 4TRIBUT$ F AN ,,RRSP1 9
  : CASE NO DEDUC;N WD 2 P]MITT$ "U
  SUBSEC;N #ADF7#H.I74 ,! SECOND SITU,N
  O3URS :5 ! ONLY B5EFICI>IES "U AN
  ,,RRSP RCV ONLY REFUNDS ( PREMIUMS1 9
  : CASE ! SUBSEC;N #ADF7#H.I7 DEDUC;N
  P]MITT$ WD EQUAL ! FAIR M>KET VALUE (!
  ,,RRSP AT ! "T (! ANNUITANT'S D1?4
  ,SEE #AG "? #BF 2L =A 4CUS.N ON REFUND
  ( PREMIUMS4

  ,! DEDUCTI# AM.T IS AN AM.T N EXCE$+ T
  DET]M9$ 0! FOLL[+ =MULA 9 SUBSEC;N
  #ADF7#H.I73

  ;,A MULTIPLI$ BY ,7#A M9US 7;,B PLUS
    ;,C M9US ,D7 DIVID$ BY 7;,B PLUS
    ;,C77'
  
                                     #AD
              ,,IT-#EJJ;,R           C#C
  ":
  ;,A IS ! TOTAL ( ALL REFUNDS (
    PREMIUMS 9 RESPECT (! ,,RRSP2
  ;,B IS ! FAIR M>KET VALUE (! PROP]TY
    (! ,,RRSP AT ! "PICUL> "T T IS !
    LAT] (
    7A7 ! 5D (! F/ CAL5D> YE> -M5C+ AF !
      D1? (! ANNUITANT1 &
    7B7 ! "T IMMLY AF ! LA/ "T T ANY
      REFUND ( PREMIUMS 9 RESPECT (!
      ,,RRSP IS PD \ ( OR "U X2
  ;,C IS ! TOTAL ( ALL AM.TS PD \ ( OR
    "U ! ,,RRSP AF ! D1? (! ANNUITANT &
    2F ! "PICUL> "T2 &
  ;,D IS ! LESS] (
    7A7 ! FAIR M>KET VALUE (! PROP]TY (!
      ,,RRSP AT ! "T (! ANNUITANT'S D1?1
      &
    7B7 ! TOTAL (! AM.TS = ;,B & ;,C 9
      RESPECT (! ,,RRSP4
    
  ,! AM.T DEDUCT$ "U SUBSEC;N #ADF7#H.I7
  _C 2 M ?AN B C 2 LESS ?AN T DET]M9$ 0!
  ABV =MULA4 ,A DEDUC;N (A LESS]     #AE
              ,,IT-#EJJ;,R           D#C
  AM.T WD1 0R1SON (! APPLIC,N ( P>AGRAPH
  7A7 (! DEF9I;N ( 8B5EFIT0 9 SUBSEC;N
  #ADF7#A71 9CR1SE ! AM.T T C 2 4TRIBUT$
  TAX FREE 6! B5EFICI>IES 7SEE #AB 2L74

  ,A DEDUC;N "U SUBSEC;N #ADF7#H.I7 MAY
  ONLY 2 APPLI$ 69COME REPORT$ 9 A3ORD.E
  ) SUBSEC;N #ADF7#H.H7 9 ! DEC1S$'S
  RETURN =! YE> ( D1?1 SUBJECT 6ANY
  LIMIT,NS ON XS REASSESS;T Z SET \ 9
  SUBSEC;N #AEB7#D.B74

,NOTE3
  ,! ,NOTICE ( ,WAYS & ,M1NS ,MO;N (
  ,JUNE #BJ1 #AIIF1 PROPOSES 6AM5D !
  DEF9I;N ( REFUND ( PREMIUMS 9 SUBSEC;N
  #ADF7#A7 6EXCLUDE TAX-PD AM.TS4 ,X IS
  AL PROPOS$ T A NEW DEF9I;N =! T]M TAX-
  PD AM.T 2 A4$ 6SUBSEC;N #ADF7#A74 ,A
  TAX-PD AM.T F A TRU/E$ OR DEPOSIT>Y
  ,,RRSP IS G5],Y AN AM.T PD 6A P]SON 9
  RESPECT ( ,,RRSP 9COME T IS N EXEMPT F
  TAX "U ,"P ;,I 2C (! D1? (! ,,RRSP
  ANNUITANT4 ,=A DEPOSIT>Y ,,RRSP1   #AF
              ,,IT-#EJJ;,R           E#C
  ? IS AN AM.T PD 6A P]SON 9 RESPECT (
  ,,RRSP 9COME T A3RU$ OR 0 CR$IT$ AF
  ,DECEMB] #CA (! YE> AF ! YE> (!
  ANNUITANT'S D1?4 ,=A TRU/E$ ,,RRSP1 ?
  IS AN AM.T 9 RESPECT ( TRU/ 9COME :
  C1SES 6BE EXEMPT AF ,DECEMB] #CA (!
  YE> AF ! YE> (! ANNUITANT'S D1?
  PURSUANT 6P>AGRAPH #ADF7#D77C74 ,^!
  *ANGES1 IF 5ACT$ Z PROPOS$1 W APPLY
  6D1?S O3URR+ AF #AIIB4
--------------------------------------#D
       ,REDUC;N ( B5EFIT AT D1?--
      ,DESIGNAT$ REFUND ( PREMIUMS
    
#AJ4 ,:5 AN AM.T IS PD F ! UNMATUR$
  ,,RRSP (A DEC1S$ ANNUITANT 6!
  ANNUITANT'S LEGAL REPRES5TATIVE1 !
  ANNUITANT'S SP\SE C1 IF ! SP\SE IS A
  B5EFICI>Y (! ANNUITANT'S E/ATE 7?\< N
  NECESS>ILY (! ,,RRSP B5EFIT71 ELECT
  JO9TLY )! LEGAL REPRES5TATIVE "U
  SUBSEC;N #ADF7#H.A7 69CLUDE 9 !
  SP\SE'S 9COME S* POR;N (! PAY;T
  DESIGNAT$ Z A REFUND ( PREMIUMS4   #AG
              ,,IT-#EJJ;,R           A#D
  ,X IS N NEC T ! E/ATE ACTU,Y PAY !
  DESIGNAT$ AM.TS 6! SP\SE4 ,! ELEC;N M/
  2 MADE & FIL$ )! ,M9I/] ( ,N,NAL
  ,REV5UE 9 PRESCRIB$ =M 7,=M ,T#BJAI1
  ,D1? ( AN ,,RRSP ,ANNUITANT--,REFUND (
  ,PREMIUMS74 ,AN AM.T N EXCE$+ T
  DET]M9$ 0! =MULA 9 #I ABV C !N 2
  DEDUCT$ "U SUBSEC;N #ADF7#H.I7 F !
  AM.T DEEM$ 6H BE5 RCVD 0! DEC1S$ 7SEE
  #E ABV74 ,AN AM.T DESIGNAT$ Z A REFUND
  ( PREMIUMS IS LIMIT$ 6! AM.T DEDUCT$
  "U SUBSEC;N #ADF7#H.I7 PLUS ANY 9COME
  (! ,,RRSP =! P]IOD 5D+ ON ,DECEMB] #CA
  (! YE> FOLL[+ ! ANNUITANT'S D1?4

  ,IF ! DEC1S$ ANNUITANT ( AN ,,RRSP
  7:E!R MATUR$ OR UNMATUR$7 _H NO SP\SE
  AT D1?1 A F9ANCI,Y DEP5D5T * OR
  GR&*ILD (! ANNUITANT 7SEE #AG & #AH
  2L7 :O IS A B5EFICI>Y (! ANNUITANT'S
  E/ATE C MAKE A SIMIL> ELEC;N4 ,!
  DESIGNAT$ AM.T ON =M ,T#BJAI IS DEEM$
  6BE RCVD 0! DEP5D5T * OR GR&*ILD Z A
  B5EFIT T IS A REFUND ( PREMIUMS    #AH
              ,,IT-#EJJ;,R           B#D
  "U AN ,,RRSP & IS 9CLUD$ 9 ! *'S OR
  GR&*ILD'S 9COME "U SUBSEC;N #ADF7#H74
  ,X IS N NEC T ! E/ATE ACTU,Y PAY !
  DESIGNAT$ AM.TS 6! * OR GR&*ILD4 ,AN
  AM.T N EXCE$+ T DET]M9$ 0! =MULA 9 #I
  ABV MAY !N 2 DEDUCT$ "U SUBSEC;N
  #ADF7#H.I7 F ! AM.T DEEM$ 6H BE5 RCVD
  0! DEC1S$ 7SEE #E ABV74 ,AN AM.T
  DESIGNAT$ Z A REFUND ( PREMIUMS IS
  LIMIT$ 6! AM.T DEDUCT$ "U SUBSEC;N
  #ADF7#H.I7 PLUS ANY 9COME (! ,,RRSP =!
  P]IOD 5D+ ON ,DECEMB] #CA (! YE>
  FOLL[+ ! ANNUITANT'S D1?4
#AA4 ,X IS A "Q ( FACT :E!R OR N ! LEGAL
  REPRES5TATIVE (! DEC1S$ W 2 A#
  6DESIGNATE ALL OR "P (! AM.T RCVD Z A
  REFUND ( PREMIUMS4 ,! REPRES5TATIVE IS
  "!=E REQUIR$ 63SID] ALL ! CIRCUM/.ES1
  9CLUD+ ! T]MS & 3DI;NS (! TRU/
  >RANGE;T1 9 ORD] 6DET]M9E :E!R ! AM.T
  RCVD C 2 DESIGNAT$ Z A REFUND (
  PREMIUMS4 ,"S (! CRIT]IA T APPLY 9
  MAK+ S* A DET]M9,N >E SET \ 9 #H ABV4
  ,:5"E AN AM.T HAS BE5 DESIGNAT$    #AI
              ,,IT-#EJJ;,R           C#D
  Z A REFUND ( PREMIUMS : IS !N DEEM$ 6H
  BE5 RCVD 0! B5EFICI>Y (! E/ATE1 !
  LEGAL REPRES5TATIVE %D ASK ! ,DE"P;T
  6REDUCE ! AM.T (! DEEM$ RECEIPT ON D1?
  "U SUBSEC;N #ADF7#H.H7 T IS 9CLUD$ 9 !
  DEC1S$'S 9COME4

     ,PAY;TS \ ( AN ,,RRSP FOLL[+ !
            ANNUITANT'S D1?
    
#AB4 ,:5"E AN AM.T3
  7A7 IS DEEM$ 6H BE5 RCVD 0! ANNUITANT
    IMMLY 2F D1? Z A B5EFIT "U AN ,,RRSP
    PURSUANT 6SUBSEC;N #ADF7#H.H71 &
  7B7 HAS BE5 9CLUD$ 9 ! ANNUITANT'S
    9COME "U SUBSEC;N #ADF7#H71
  AN ACTUAL PAY;T \ (! ,,RRSP1 6! EXT5T
  T X C R1SONABLY 2 REG>D$ Z "P (! AM.T
  9CLUD$ 9 -PUT+ ! 9COME (! DEC1S$
  ANNUITANT1 IS 7SUBJECT 6#AC 2L7 N A
  B5EFIT "U ! DEF9I;N ( T T]M 9 SUBSEC;N
  #ADF7#A7 6! P]SON :O RCVS X4 ,ACLY1 S*
  AN AM.T IS N 9CLUD$ 9 T P]SON'S 9COME
  "U SUBSEC;N #ADF7#H74              #BJ
              ,,IT-#EJJ;,R           D#D
  ,9 A4I;N1 P>AGRAPH #ADF7#B77C4#B7
  REQUIRES ! -MUT,N ( EA* ANNU;Y T
  2COMES PAYA# 6A P]SON O!R ?AN !
  ANNUITANT 7SEE #B ABV7 "U ! PLAN4 ,!
  PAY;T 6T O!R P]SON M/ "!=E 2 A LUMP
  SUM EQUAL 6! FAIR M>KET VALUE (!
  ANNU;Y AT ! DATE ( D1? (! ANNUITANT4
#AC4 ,! -;TS 9 #AB ABV G5],Y D N APPLY
  6AN AM.T T IS3
  7A7 AN ANNU;Y PAY;T RCVD 0! SP\SE (!
    DEC1S$ S9CE S* PAY;TS WD 2 EXCLUD$ F
    ! DEC1S$'S 9COME "U P>AGRAPH
    #ADF7#H.H77B72 OR
  7B7 A REFUND ( PREMIUMS RCVD OR DEEM$
    6H BE5 RCVD 0A F9ANCI,Y DEP5D5T * OR
    GR&*ILD 7SEE #AG 2L7 OR ! SP\SE (!
    DEC1S$1 6! EXT5T ! LEGAL
    REPRES5TATIVE (! DEC1S$ ANNUITANT
    HAS ELECT$ 6DEDUCT !M "U SUBSEC;N
    #ADF7#H.I7 7SEE #F 6#AJ ABV74
  ,3SEQU5TLY1 ! TAX,N ( ALL OR "P ( S*
  AM.TS WD 2 %IFT$ 6! B5EFICI>Y & 9CLUD$
  9 ! B5EFICI>Y'S 9COME "U SUBSEC;N
                                     #BA
              ,,IT-#EJJ;,R           E#D
  #ADF7#H7 Z & :5 RCVD OR DEEM$ 6H BE5
  RCVD4

     ,JO9T & S"EAL LIABIL;Y = AM.TS
           RCVD \ ( AN ,,RRSP
    
#AD4 ,": AN ANNUITANT DIES1 SUBSEC;N
  #AFJ.B7#A7 PROVIDES T ! RECIPI5T
  79CLUD+ ! E/ATE (! DEC1S$7 (A TAX-FREE
  AM.T \ ( OR "U AN ,,RRSP 7SEE #AB ABV7
  IS JO9TLY & S"E,Y LIA# )! DEC1S$
  ANNUITANT =A POR;N (! DEC1S$'S A4I;NAL
  TAX PAYA# T >OSE 2C ! AM.T 0 9CLUD$ 9
  ! DEC1S$'S 9COME "U SUBSEC;N
  #ADF7#H.H74 ,? JO9T & S"EAL LIABIL;Y
  IS EQUAL 6! PROPOR;N ( S* A4I;NAL TAX
  6! DEC1S$ T ! RECIPI5T'S TAX-FREE %>E
  (! ,,RRSP AM.T IS (! TOTAL (! ,,RRSP
  AM.TS 9CLUD$ 9 ! DEC1S$'S 9COME =! YE>
  ( D1? "U SUBSEC;N #ADF7#H.H74
--------------------------------------#E
#AE4 ,SUBSEC;N #AFJ.B7#A7 W APPLY ONLY
  6! RECIPI5T 79CLUD+ ! E/ATE (! DEC1S$
  ANNUITANT7 :O1 "U ! T]MS (!        #BB
              ,,IT-#EJJ;,R           A#E
  ,,RRSP1 RCVS TAX-FREE FUNDS DIRECTLY F
  ! ,,RRSP ^U ! D1? (! ANNUITANT 7SEE
  #AB ABV74 ,"!=E1 9 A CASE ": TAX-FREE
  ,,RRSP FUNDS >E PD 6! E/ATE Z
  B5EFICI>Y (! ,,RRSP1 ! E/ATE IS JO9TLY
  & S"E,Y LIA# "U SEC;N #AFJ.B & "! IS
  NO S* LIABIL;Y ON ANY B5EFICI>Y ( T
  E/ATE :O MAY ULTIMATELY RCV ANY ( ^!
  FUNDS4
#AF4 ,SUBSEC;N #AFJ.B7#D7 PROVIDES T A
  PAY;T 0! RECIPI5T 7O!R ?AN ! E/ATE (!
  DEC1S$ ANNUITANT71 ON A3.T (!
  RECIPI5T'S JO9T & S"EAL LIABIL;Y
  DIRECTLY REDUCES T LIABIL;Y 6! EXT5T
  (! PAY;T4 ,H["E1 A PAY;T 0! E/ATE ON
  A3.T (! DEC1S$'S TAX LIABIL;Y REDUCES
  ! JO9T & S"EAL LIABIL;Y (! RECIPI5T
  ONLY 6! EXT5T T ! PAY;T REDUCES !
  TOTAL LIABIL;Y (! DEC1S$ =! YE> ( D1?
  6AN AM.T T IS LESS ?AN ! JO9T & S"EAL
  LIABIL;Y DET]M9$ "U SUBSEC;N
  #AFJ.B7#A74

                                     #BC
       ,REFUND ( PREMIUMS--,G5]AL    B#E
                  -;TS
    
#AG4 ,! DEF9I;N ( REFUND ( PREMIUMS 9
  SUBSEC;N #ADF7#A7 SPECIFIES T ANY AM.T
  \ ( OR "U AN ,,RRSP W QUALIFY Z A
  REFUND ( PREMIUMS IF PD TO3
  --! SP\SE (! ANNUITANT1 OR1
  --IF ! ANNUITANT _H NO SP\SE AT ! "T (
    D1?1 A * OR GR&*ILD (! ANNUITANT :O
    0 AT T "T F9ANCI,Y DEP5D5T 7SEE #AH
    2L7 ON ! DEC1S$ = SUPPORT 78F9ANCI,Y
    DEP5D5T * OR GR&*ILD074
  ,9 ! CASE ( AN AM.T PD 6! SP\SE1 ONLY
  AN AM.T PD \ ( AN ,,RRSP 2F XS MATUR;Y
  & Z A 3SEQU;E (! D1? (! ANNUITANT
  QUALIFIES Z A REFUND ( PREMIUMS4 7,AN
  AM.T PD Z A 3SEQU;E (! ANNUITANT'S D1?
  9CLUDES PAY;TS MADE 0WAY ( TRANSF]S OR
  4TRIBU;NS ( PROP]TY47

  ,9 ! CASE ( AN AM.T PD 6A F9ANCI,Y
  DEP5D5T * OR GR&*ILD1 H["E1 AN AM.T PD
  \ ( AN ,,RRSP EI 2F OR AF XS MATUR;Y
  QUALIFIES Z A REFUND ( PREMIUMS4   #BD
              ,,IT-#EJJ;,R           C#E
  ,AN EXAMPLE ( AN AM.T PD \ (A MATUR$
  ,,RRSP 6A F9ANCI,Y DEP5D5T * OR
  GR&*ILD :O IS "ND ! B5EFICI>Y 9 !
  ,,RRSP T MAY QUALIFY Z A REFUND (
  PREMIUMS IS1 = 9/.E1 ! LUMP-SUM -MUT$
  VALUE ( ANY ANNU;Y PAY;TS REMA9+ "U !
  GU>ANTE$ T]M (! DEC1S$'S LIFE ANNU;Y4

  ,REFUNDS ( PREMIUMS M/ 2 PD 9 A LUMP
  SUM4 ,ANY PLAN PROVID+ =A REFUND (
  PREMIUMS 9 ! =M ( AN ANNU;Y OR 9/AL;TS
  W N 2 A3EPT$ = REGI/R,N4

,,NOTE3
  ,! ,NOTICE ( ,WAYS & ,M1NS ,MO;N (
  ,JUNE #BJ1 #AIIF1 PROPOSES 6AM5D !
  DEF9I;N ( REFUND ( PREMIUMS 9 SUBSEC;N
  #ADF7#A7 6EXCLUDE TAX-PD AM.TS4 ,X IS
  AL PROPOS$ T A NEW DEF9I;N =! T]M TAX-
  PD AM.T 2 A4$ 6SUBSEC;N #ADF7#A74 ,SEE
  ! ,NOTE AT ! 5D ( #I = AN EXPLAN,N ( ?
  NEW PROPOS$ T]M4 ,^! *ANGES1 IF 5ACT$
  Z PROPOS$1 W APPLY 6D1?S O3URR+ AF
  #AIIB4                             #BE
              ,,IT-#EJJ;,R           D#E
#AH4 ,"U ! DEF9I;N ( REFUND ( PREMIUMS1
  X IS ASSUM$1 UN.S ! 3TR>Y IS E/ABLI%$1
  T A * OR GR&*ILD IS N F9ANCI,Y DEP5D5T
  ON ! ANNUITANT = SUPPORT AT ! "T (!
  ANNUITANT'S D1? IF ! 9COME (! * OR
  GR&*ILD =! YE> PREC$+ ! YE> ( D1?
  EXCE$$ ! BASIC P]SONAL AM.T "U
  P>AGRAPH 7C7 (! DESCRIP;N ( ;,B 9
  SUBSEC;N #AAH7#A7 = T PREC$+ YE>4 7,!
  BASIC P]SONAL AM.T = #AIID & #AIIE IS
  4#F1DEF74

       ,REFUND ( PREMIUMS \ ( AN
            UNMATUR$ ,,RRSP
    
#AI4 ,:5 ! LUMP SUM PAY;T (A REFUND (
  PREMIUMS \ ( AN 9SUR$ ,,RRSP 6!
  B5EFICI>Y (A DEC1S$ ANNUITANT IS
  DELAY$1 9T]E/ A3RU$ ON ! AM.T (!
  REFUND 7DET]M9$ Z (! DATE (!
  ANNUITANT'S D1?7 F ! DATE ( D1? 6!
  DATE ( ACTUAL PAY;T IS 6BE TR1T$ Z "P
  (! REFUND ( PREMIUMS4 ,AN 89SUR$
  ,,RRSP0 IS G5],Y "O ISSU$ 0A       #BF
              ,,IT-#EJJ;,R           E#E
  P]SON REF]R$ 6IN P>AGRAPH 7A7 (!
  DEF9I;N ( 8RETIRE;T SAV+S PLAN0 9
  SUBSEC;N #ADF7#A74
#BJ4 ,:5 AN AM.T QUALIFIES Z A REFUND (
  PREMIUMS \ (A DEPOSIT>Y ,,RRSP AF !
  D1? (! ANNUITANT1 9T]E/ OR 9COME
  EV5TU,Y PD T A3RU$ UP 6! 5D (! YE>
  FOLL[+ ! YE> ( D1? QUALIFIES Z A
  REFUND ( PREMIUMS IF PD 6EI ! SP\SE OR
  A F9ANCI,Y DEP5D5T * OR GR&*ILD1
  PROVID$ S* AM.TS O!RWISE QUALIFY Z
  REFUNDS ( PREMIUMS4 ,9T]E/ OR 9COME
  EV5TU,Y PD T A3RU$ AF T "T W 2 9CLUD$
  9 ! 9COME (! P]SON 5TITL$ 6! DEPOSIT
  7I4E41 ! E/ATE (! DEC1S$ ANNUITANT OR
  ! B5EFICI>IES7 & DOES N QUALIFY Z A
  REFUND ( PREMIUMS4 ,ANY 9T]E/ OR 9COME
  CR$IT$ OR A4$ AF ! DATE ( D1? T A3RU$
  6! DATE ( D1? W 2 9CLUD$ 9 ! AM.T
  DET]M9$ "U P>AGRAPH #ADF7#H.H77A7 &
  QUALIFIES Z A REFUND ( PREMIUMS IF PD
  6EI ! SP\SE OR A F9ANCI,Y DEP5D5T * OR
  GR&*ILD1 PROVID$ ! AM.T O!RWISE
  QUALIFIES Z A REFUND ( PREMIUMS4   #BG
              ,,IT-#EJJ;,R           F#E
  ,A 8DEPOSIT>Y ,,RRSP0 IS G5],Y "O
  ISSU$ 0A P]SON REF]R$ 6IN SUBP>AGRAPH
  7B77;III7 (! DEF9I;N ( RETIRE;T SAV+S
  PLAN 9 SUBSEC;N #ADF7#A74
#BA4 ,! 5TIRE AM.T 9 AN UNMATUR$ TRU/E$
  ,,RRSP ON OR 2F ,DECEMB] #CA (! YE>
  FOLL[+ ! YE> (! ANNUITANT'S D1?1
  REPRES5T+ ! VALUE (! ,,RRSP AT ! DATE
  ( PAY;T1 W 2 3SID]$ A REFUND (
  PREMIUMS IF ! RECIPI5T IS EI ! SP\SE
  OR A F9ANCI,Y DEP5D5T * OR GR&*ILD (!
  ANNUITANT1 & PROVID$ ! AM.T O!RWISE
  QUALIFIES Z A REFUND ( PREMIUMS4 ,!
  VALUE (! ,,RRSP AT ! DATE ( PAY;T MAY
  2 GRT] OR LESS ?AN XS VALUE AT ! "T (!
  ANNUITANT'S D1?1 DEP5D+ ON ! 9CR1SE OR
  DECR1SE 79CLUD+ ACTUAL CAPITAL GA9S OR
  LOSSES7 9 ! VALUE (! ASSETS 9 ! ,,RRSP
  & ON ! AM.T (
--------------------------------------#F
  ! 9COME (! ,,RRSP TRU/ 2T ! DATE ( D1?
  &! DATE ( PAY;T4 ,A 8TRU/E$ ,,RRSP0 IS
  G5],Y "O ISSU$ 0A P]SON REF]R$ 6IN
  SUBP>AGRAPH 7B77;I7 (! DEF9I;N (   #BH
              ,,IT-#EJJ;,R           A#F
  RETIRE;T SAV+S PLAN 9 SUBSEC;N
  #ADF7#A74
#BB4 ,AN AM.T A3RU$ AF ,DECEMB] #CA (!
  YE> FOLL[+ ! YE> (! LA/ ANNUITANT'S
  D1? T IS PD 6EI ! SP\SE OR * OR
  GR&*ILD (! ANNUITANT1 DOES N QUALIFY Z
  A REFUND ( PREMIUMS & ONLY ! POR;N "!(
  T IS ! EXCESS (! PAY;T OV] ! 9COME (!
  ,,RRSP TRU/ AF ,DECEMB] #CA ( T FOLL[+
  YE> C QUALIFY Z A SUBSEC;N #ADF7#H7
  B5EFIT4 ,! 9COME (! ,,RRSP TRU/1
  9CLUD+ ! TAXA# POR;N ( ANY CAPITAL
  GA9S & LOSSES T A3RU$ AF ,DECEMB] #CA
  (! YE> FOLL[+ ! YE> ( D1?1 IS SUBJECT
  6TAX "U NORMAL TRU/ RULES 0R1SON (
  P>AGRAPH #ADF7#D77C71 & IS N A B5EFIT
  0R1SON ( P>AGRAPH 7C7 (! DEF9I;N ( T
  T]M 9 SUBSEC;N #ADF7#A7 6! EXT5T !
  AM.T 0 N DEDUCT$ "U P>AGRAPH
  #AJD7#F77B7 0! ,,RRSP TRU/4 ,P>AGRAPH
  #AJD7#F77B7 P]MITS A TRU/ 6DEDUCT AN
  AM.T 9 -PUT+ ! 9COME (! TRU/ IF1 AM;G
  O!R ?+S1 ! AM.T IS PAYA# 9 ! YE> 6A
  B5EFICI>Y (! TRU/4 ,9COME (!       #BI
              ,,IT-#EJJ;,R           B#F
  TRU/ DOES N 9CLUDE AM.TS T WD O!RWISE
  2 9COME B =! DEDUC;N "U P>AGRAPH
  #AJD7#F77B74 ,! AM.T REPRES5T+ ! NON-
  TAXA# POR;N ( CAPITAL GA9S OR LOSSES
  A3RU$ 9 ! TRU/ AF ,DECEMB] #CA (! YE>
  FOLL[+ ! YE> (! ANNUITANT'S D1? IS N
  EXCLUD$ "U P>AGRAPH 7C7 (! DEF9I;N (
  B5EFIT 9 SUBSEC;N #ADF7#A7 & 3SEQU5TLY
  IS 9CLUD$ 9 7GA971 OR REDUCES 7LOSS71
  ! AM.T (! SUBSEC;N #ADF7#H7 B5EFIT4

,,NOTE3
  ,! ,NOTICE ( ,WAYS & ,M1NS ,MO;N (
  ,JUNE #BJ1 #AIIF1 PROPOSES 6AM5D
  SUBSEC;N #AJD7#F7 = #AIIF & SUBSEQU5T
  TAX,N YE>S4 ,X IS PROPOS$ T AN ,,RRSP
  TRU/ W 2 A# 6DEDUCT AN AM.T 9 -PUT+ !
  9COME (! TRU/ ONLY IF ! AM.T IS PD 7N
  PAYA#7 9 ! YE> 6A B5EFICI>Y (! TRU/4
  ,! E6ECT ( ? PROPOS$ *ANGE M1NS T :5
  AN AM.T IS PD 6EI ! SP\SE OR * OR
  GR&*ILD (! ANNUITANT AF ,DECEMB] #CA
  (! YE> FOLL[+ ! YE> (! ANNUITANT'S
  D1?1 ! AM.T QUALIFIES Z AN         #CJ
              ,,IT-#EJJ;,R           C#F
  ,,RRSP B5EFIT "U ! PROPOS$ DEF9I;N ( T
  T]M 9 SUBSEC;N #ADF7#A71 6! EXT5T T !
  ,,RRSP TRU/ HAS DEDUCT$ T AM.T "U
  PROPOS$ P>AGRAPH #AJD7#F77A4#B7 =! YE>
  9 -PUT+ XS 9COME4

  ,! ,NOTICE ( ,WAYS & ,M1NS ,MO;N (
  ,JUNE #BJ1 #AIIF1 PROPOSES 6ADD !
  DEF9I;N ( TAX-PD AM.T 7SEE ! ,NOTE AT
  ! 5D ( #I = AN EXPLAN,N ( ? NEW
  PROPOS$ T]M7 6SUBSEC;N #ADF7#A7 &
  6AM5D ! DEF9I;N ( REFUND ( PREMIUMS 9
  T SUBSEC;N 6EXCLUDE A TAX-PD AM.T4 ,!
  E6ECT ( ^! *ANGES IS T1 9 ! CASE (A
  TRU/E$ ,,RRSP1 AN AM.T PD 6A P]SON 9
  RESPECT ( AN ,,RRSP TRU/'S 9COME T IS
  N EXEMPT F TAX "U ,"P ;,I 2C (
  P>AGRAPH #ADF7#D77C7 W N QUALIFY Z A
  REFUND ( PREMIUMS4 ,"U P>AGRAPH
  #ADF7#D77C71 ,,RRSP TRU/ 9COME C1SES
  6BE EXEMPT AF ,DECEMB] #CA (! YE> AF !
  YE> ( D1? (! ,,RRSP ANNUITANT4 ,IF
  5ACT$ Z PROPOS$1 ^! *ANGES W APPLY
  6D1?S O3URR+ AF #AIIB4             #CA
              ,,IT-#EJJ;,R           D#F
#BC4 ,:5 AN AM.T IS PD \ ( OR "U !
  DEC1S$'S UNMATUR$ ,,RRSP 6! E/ATE &!
  B5EFICI>Y ( T E/ATE IS EI ! SP\SE OR A
  F9ANCI,Y DEP5D5T * OR GR&*ILD1 ! AM.T
  (! PAY;T T WD QUALIFY1 IF DESIGNAT$ "U
  SUBSEC;N #ADF7#H.A7 Z A REFUND (
  PREMIUMS 9 ! H&S (! B5EFICI>Y 7SEE #AJ
  & #AA ABV71 IS DET]M9$ 9 ! SAME MANN]
  Z DESCRIB$ 9 #AI "? #BB ABV4
#BD4 ,! FOLL[+ EXAMPLE REFLECTS !
  APPLIC,N (! -;TS 9 #BB ABV Z WELL Z !
  PROPOS$ AM5D;TS 9 ! ,NOTICE ( ,WAYS &
  ,M1NS ,MO;N ( ,JUNE #BJ1 #AIIF1 6!
  DEF9I;NS ( B5EFIT & REFUND ( PREMIUMS
  9 SUBSEC;N #ADF7#A71 ! PROPOS$ A4I;N
  (! T]M TAX-PD AM.T 6SUBSEC;N #ADF7#A71
  &! PROPOS$ AM5D;TS 6SUBSEC;NS
  #ADF7#H.I7 & #AJD7#F74 ,^! PROPOS$
  *ANGES 7 4CUSS$ 9 ! NOTES 6#I1 #AG &
  #BB ABV4



                                     #CB
              ,,IT-#EJJ;,R           E#F
,EXAMPLE #A3
  ,FACTS3 ,MR4 ;,X DI$ 9 #AIID4 ,! FAIR
  M>KET VALUE ( 8 UNMATUR$ TRU/E$ ,,RRSP
  AT ! "T ( 8 D1? 0 4#AJ1JJJ4 ,X 0 WOR?
  4#AB1JJJ ON ,DECEMB] #CA1 #AIIE1 &
  4#AB1EJJ 0 PD \ ON ,MAY #A1 #AIIF4
  ,MR4 ;,X'S SURVIV+ SP\SE1 ,MRS4 ;,X1
  IS ! B5EFICI>Y ( 8 ,,RRSP4

  ,,FMV ( ,,RRSP ASSETS ON D1?
    9 #AIID """"""""""""""""""" 4#AJ1JJJ
  #AIID & #AIIE 9COME ( PLAN """ 4#B1JJJ
  ,,FMV ( ,,RRSP ASSETS ON
    ,DEC4 #CA1 #AIIE """""""""" 4#AB1JJJ
  #AIIF 9COME ( PLAN3
  ,9T]E/ 9COME """"""""""""""""""" 4#EJJ
  ,,FMV ( PLAN ASSETS ON PAY\T1
    ,MAY #A1 #AIIF """""""""""" 4#AB1EJJ
  
  7A7 ,TAX E6ECTS =! DEC1S$ =
    #AIID3
  ,AM.T 9CLUD$ "U SUBSEC;N
    #ADF7#H.H7 & #ADF7#H7 """"" 4#AJ1JJJ
                                     #CC
              ,,IT-#EJJ;,R           F#F
  ,M9US3 AM.T DEDUCT$ "U
    SUBSEC;N #ADF7#H.I7 "" 9999 4#AJ1JJJ
  ,NET 9COME 9CLU.N =! DEC1S$ """ 4# NIL
  
  7B7 ,TAX E6ECTS =! ,,RRSP
    TRU/ = #AIIF3
  ,9COME 9CLU.N = ,,RRSP TRU/ """" 4#EJJ
  ,DEDUC;N CLAIM$ 0,,RRSP TRU/
    "U PROPOS$ P>AGRAPH
    #AJD7#F77A4#B7 = AM.T PD
    6B5EFICI>Y1 ,MRS4 ;,X1 9
    RESPECT ( #AIIF 9COME F
    PLAN TRU/ """""""""""""""""""" 4#EJJ
  ,NET 9COME 9CLU.N = ,,RRSP
    TRU/ """""""""""""""""""""""" 4# NIL
  
  7C7 ,TAX E6ECTS = ,MRS4 ;,X =
    #AIIF3
    7;I7 ,9COME ( ,MRS4 ;,X3
      ,,RRSP B5EFITS RCVD--
        SUBSEC;N #ADF7#H7 "" 99 4#AB1JJJ
      ,,RRSP B5EFITS RCVD--
        SUBSEC;N #ADF7#H7 """""""" 4#EJJ
                                     #CD
              ,,IT-#EJJ;,R           G#F
      ,TOTAL 9COME 9CLU.N =
        ,MRS4 ;,X """"""""""""" 4#AB1EJJ
--------------------------------------#G
    7;II7 ,MRS4 ;,X'S REFUND ( PREMIUMS3
      99 ,! AM.T ( 4#AB1JJJ QUALIFIES Z
        A REFUND ( PREMIUMS4 ,! ,,RRSP
        B5EFITS RCVD >E 4#AB1EJJ1 : IS
        4#AB1JJJ PLUS ! 4#EJJ NON-EXEMPT
        9COME PD 0! ,,RRSP TRU/ 6,MRS4
        ;,X4 ,! 4#AB1JJJ QUALIFIES =
        PURPOSES (! ROLLOV] PROVI.NS "U
        P>AGRAPH #FJ7L71 Z EXPLA9$ 9 #BG
        & #BH 2L4
  7D7 ,CALCUL,N ( PROPOS$ SUBSEC;N
    #ADF7#H.I7 DEDUC;N3
    ,Z NOT$ 9 #I ABV1 2C "! IS ONLY "O
    B5EFICI>Y "U ! ,,RRSP :O ONLY RCVD A
    REFUND ( PREMIUMS1 ! DEDUC;N ALL[$
    "U SUBSEC;N #ADF7#H.I7 = #AIID IS
    4#AJ1JJJ1 : IS ! FAIR M>KET VALUE (!
    ,,RRSP AT ! "T (! ANNUITANT'S D1?4
  
    9999 ,! AM.T ( 4#AJ1JJJ 0 DET]M9$
    0APPLY+ ! =MULA 9 P>AGRAPH #I    #CE
              ,,IT-#EJJ;,R           A#G
    ( ? BULLET9 EXCEPT =! FOLL[+ PROPOS$
    *ANGE TO ;,A 9 ! =MULA Z FOLL[S3
  
  ;,A MULTIPLI$ BY ,7#A M9US 7;,B PLUS
    ;,C M9US ,D7 DIVID$ BY 7;,B PLUS
    ;,C77'
  
  ":
  ;,A IS ! TOTAL (3
    7A7 ALL REFUNDS ( PREMIUMS 9 RESPECT
      (! ,,RRSP2
    7B7 ALL TAX-PD AM.TS 9 RESPECT (!
      PLAN PD 69DIVIDUALS :O RCVD
      REFUNDS ( PREMIUMS 7O!R ?AN AM.TS
      PD 2C ( SUBSEC;N #ADF7#H.A772 &
    7C7 ALL TAX- PD AM.TS PD 6! LEGAL
      REPRES5TATIVE4
      EQUALS 4#AB1EJJ MULTIPLI$ BY ,7#A
        M9US 74#J PLUS 4#AB1EJJ M9US
        4#AJ1JJJ7 DIVID$ BY 74#J PLUS
        4#AB1EJJ77'
      EQUALS 4#AJ1JJJ
      
                                     #CF
              ,,IT-#EJJ;,R           B#G
#BE4 ,:5 AN AM.T IS PD AF ,DECEMB] #CA
  (! YE> FOLL[+ ! YE> (! ANNUITANT'S D1?
  F A TRU/E$ ,,RRSP1 &! AM.T IS PD 6"O
  OR M QUALIFY+ B5EFICI>IES 7SURVIV+
  SP\SE1 OR IF "! IS NO SP\SE AT ! "T (
  D1?1 A F9ANCI,Y DEP5D5T * OR GR&*ILD71
  & 6"O OR M NON-QUALIFY+ B5EFICI>IES1 !
  -;TS 9 #BB ABV APPLY 6! CALCUL,N (!
  REFUND ( PREMIUMS & O!R TAX E6ECTS4 ,!
  FOLL[+ EXAMPLE REFLECTS ! APPLIC,N (!
  -;TS 9 #BB ABV Z WELL Z ! PROPOS$
  AM5D;TS 9 ! ,NOTICE ( ,WAYS & ,M1NS
  ,MO;N ( ,JUNE #BJ1 #AIIF1 6! DEF9I;NS
  ( B5EFIT & REFUND ( PREMIUMS 9
  SUBSEC;N #ADF7#A71 ! PROPOS$ A4I;N (!
  T]M TAX-PD AM.T 6SUBSEC;N #ADF7#A71 &!
  PROPOS$ AM5D;TS 6SUBSEC;NS #ADF7#H.I7
  & #AJD7#F74 ,^! PROPOS$ *ANGES 7
  4CUSS$ 9 ! NOTES 6#I1 #AG & #BB ABV4




                                     #CG
              ,,IT-#EJJ;,R           C#G
,EXAMPLE #B3
  ,FACTS3 ,SAME Z 9 ,EXAMPLE #A EXCEPT T
  (! 4#AB1EJJ PD \1 4#G1EJJ 7#FJ@3P7 IS
  4TRIBUT$ 6,MRS4 ;,X1 ! SURVIV+ SP\SE
  7A QUALIFY+ B5EFICI>Y71 & 4#E1JJJ
  7#DJ@3P7 IS 4TRIBUT$ 6,MISS ;,X1 ! * (
  ,MR4 & ,MRS4 ;,X4 ,MISS ;,X IS A NON-
  QUALIFY+ B5EFICI>Y & "!=E ! ROLLOV]
  PROVI.NS "U P>AGRAPH #FJ7L7 >E N
  AVAILA# 6H] 9 RESPECT ( ANY AM.TS PD F
  ! ,,RRSP4

  7A7 ,TAX E6ECTS =! DEC1S$ =
    #AIID3
  ,AM.T 9CLUD$ "U SUBSEC;N
    #ADF7#H.H7 & #ADF7#H7 """"" 4#AJ1JJJ
  ,M9US3 AM.T DEDUCT$ "U
    SUBSEC;N #ADF7#H.I7 "" 9999 4#F1JJJ
  ,NET 9COME 9CLU.N =! DEC1S$ "" 4#D1JJJ
  
  7B7 ,TAX E6ECTS =! ,,RRSP
    TRU/ = #AIIF3
  ,9COME 9CLU.N = ,,RRSP TRU/ """" 4#EJJ
                                     #CH
              ,,IT-#EJJ;,R           D#G
  ,DEDUC;N CLAIM$ 0,,RRSP TRU/
    "U PROPOS$ P>AGRAPH
    #AJD7#F77A4#B7 = AM.TS PD
    6B5EFICI>IES1 ,MRS4 ;,X &
    ,MISS ;,X 9 RESPECT ( #AIIF
    9COME F PLAN TRU/ """""""""""" 4#EJJ
  ,NET 9COME 9CLU.N =! ,,RRSP
    TRU/ """""""""""""""""""""""" 4# NIL
  
  7C7 ,TAX E6ECTS = ,MRS4 ;,X =
    #AIIF3
    7;I7 ,9COME ( ,MRS4 ;,X3
      ,,RRSP B5EFITS RCVD--
        SUBSEC;N #ADF7#H7 """ 99 4#G1BJJ
      ,,RRSP B5EFITS RCVD--
        SUBSEC;N #ADF7#H7 """""""" 4#CJJ
       """"""""""""""""""""""""" 4#G1EJJ
      
    7;II7 ,MRS4 ;,X'S REFUND (
      PREMIUMS3
      99 ,! AM.T ( 4#G1BJJ
      74#AB1JJJ MULTIPLI$
      0#FJ@3P7 QUALIFIES Z A
      REFUND ( PREMIUMS4 ,!          #CI
              ,,IT-#EJJ;,R           E#G
      ,,RRSP B5EFITS RCVD >E
      4#G1EJJ1 : IS 4#G1BJJ
      PLUS ! 4#CJJ NON-EXEMPT
      9COME PD 0! ,,RRSP TRU/
      6,MRS4 ;,X4 ,! 4#G1BJJ
      QUALIFIES = PURPOSES (!
      ROLLOV] PROVI.NS "U
      P>AGRAPH #FJ7L71 Z
      EXPLA9$ 9 #BG & #BH 2L4
    
  7D7 ,TAX E6ECTS = ,MISS ;,X =
    #AIIF3
    7;I7 ,PAY\T F ,,RRSP RCVD
      TAX-FREE """"""""""""""""" 4#D1JJJ
      74#AJ1JJJ M9US 4#F1JJJ
      EQUALS 4#D1JJJ 9COME
      9CLU.N =! DEC1S$4 ,MISS
      ;,X RCVS 4#D1JJJ \ ( H]
      4#E1JJJ TAX-FREE 2C !
      4#D1JJJ %E RCVS IS N AN
      ,,RRSP B5EFIT 9 ! PROPOS$
      DEF9I;N ( T T]M 9
      SUBSEC;N #ADF7#A774
                                     #DJ
              ,,IT-#EJJ;,R           F#G
    7;II7 ,9COME ( ,MISS ;,X3
      ,,RRSP B5EFIT--SUBSEC;N
      #ADF7#H7 """"""""""""""""" 4#A1JJJ
    ,TOTAL ,PAY\T 6,MISS ;,X """ 4#E1JJJ
--------------------------------------#H
  7E7 ,CALCUL,N ( PROPOS$ SUBSEC;N
    #ADF7#H.I7 DEDUC;N3
    9999 ,! AM.T ( 4#F1JJJ 0 DET]M9$
    0APPLY+ ! =MULA 9 PROPOS$ SUBSEC;N
    #ADF7#H.I7 Z FOLL[S3
  
    ;,A MULTIPLI$ BY ,7#A M9US 7;,B PLUS
      ;,C M9US ,D7 DIVID$ BY 7;,B PLUS
      ;,C77'
    EQUALS 4#G1EJJ MULTIPLI$ BY ,7#A
      M9US 74#J PLUS 4#AB1EJJ M9US
      4#AJ1JJJ7 DIVID$ BY 74#J PLUS
      4#AB1EJJ77'
    EQUALS 4#F1JJJ
    
    


                                     #DA
        ,REFUND ( PREMIUMS \ (A      A#H
             MATUR$ ,,RRSP
    
#BF4 ,Z PREVI\SLY 9DICAT$1 AN AM.T PD \
  (A MATUR$ ,,RRSP ON OR AF !
  ANNUITANT'S D1? W QUALIFY Z A REFUND (
  PREMIUMS IF ! DEC1S$ _H NO SP\SE AT !
  "T ( D1? &! AM.T IS PD 6A F9ANCI,Y
  DEP5D5T 7SEE #AH ABV7 * OR GR&*ILD4 ,!
  AM.T C 2 PD EI DIRECTLY "U ! ,,RRSP
  7SEE #AG ABV7 OR 9DIRECTLY "? A TRU/
  OR ! E/ATE (! DEC1S$ 7SEE #AJ ABV74

           ,ROLLOV] PROVI.NS
    
#BG4 ,P>AGRAPH #FJ7L7 P]MITS A QUALIFY+
  B5EFICI>Y :O RCVS A REFUND ( PREMIUMS
  F AN ,,RRSP 6DEF] ! PAY;T ( TAX
  7ROLLOV]7 ON ALL OR "P (! RECEIPT4 ,A
  QUALIFY+ B5EFICI>Y IS EI ! SP\SE (!
  DEC1S$ ANNUITANT1 OR A * OR GR&*ILD (!
  DEC1S$ ANNUITANT :O 0 F9ANCI,Y DEP5D5T
  7SEE #AH ABV7 AT ! "T ( D1? ON !
  DEC1S$ ANNUITANT3
                                     #DB
              ,,IT-#EJJ;,R           B#H
  7A7 0R1SON ( PHYSICAL OR M5TAL
    9FIRM;Y2 OR
  7B7 IF N 0R1SON ( PHYSICAL OR M5TAL
    9FIRM;Y1 IF ! ACQUISI;N ( AN ANNU;Y
    4CUSS$ 9 7F7 2L ( ? P>AGRAPH IS
    9VOLV$4
  ,P>AGRAPH #FJ7L7 AL P]MITS ! SP\SE :O
  2COMES ! SU3ESSOR ANNUITANT "U !
  DEC1S$ ANNUITANT'S ,,RRSP 6DIRECTLY
  ROLLOV] ALL OR "P ( ANY PAY;T 9 FULL
  OR "PIAL -MUT,N (! ,,RRSP ANNU;Y4 7,"U
  ! DEF9I;N ( ANNUITANT 9 SUBSEC;N
  #ADF7#A71 A SP\SE 2COMES A SU3ESSOR
  ANNUITANT IF ! SP\SE 2COMES 5TITL$1 Z
  A 3SEQU;E (! ANNUITANT'S D1?1 6RCV
  B5EFITS 6BE PD \ ( OR "U ! MATUR$
  ,,RRSP47

  ,AN 9DIVIDUAL MAY OBTA9 A DEDUC;N "U
  P>AGRAPH #FJ7L7 9 RESPECT ( ALL OR "P
  ( AM.TS =! YE> !Y >E 9CLUD$ 9 !
  9DIVIDUAL'S 9COME "U SUBSEC;N #ADF7#H7
  6! EXT5T !Y >E PD 7OR 9 ! CASE (A
  -MUT,N PAY;T RCVD 0A SP\SE Z       #DC
              ,,IT-#EJJ;,R           C#H
  SU3ESSOR ANNUITANT1 6! EXT5T X IS
  DIRECTLY TRANSF]R$ 0! ISSU] (! ,,RRSP7
  9 ! YE> OR )9 #FJ "DS AF ! 5D (! YE>3
  7C7 Z A PREMIUM "U AN ,,RRSP "U : !
    B5EFICI>Y IS ! ANNUITANT2
  7D7 6ACQUIRE A LIFE ANNU;Y =!
    B5EFICI>Y OR =! LIVES JO9TLY (!
    B5EFICI>Y &! B5EFICI>Y'S SP\SE1 EI
    )A GU>ANTE$ P]IOD T IS N GRT] ?AN
    #IJ YE>S M9US ! B5EFICI>Y'S AGE OR T
    (! B5EFICI>Y'S SP\SE1 AT ! "T ( XS
    ACQUISI;N1 OR )\T A GU>ANTE$ P]IOD2
  7E7 6ACQUIRE AN ANNU;Y =! B5EFICI>Y =A
    T]M ( YE>S EQUAL 6#IJ M9US !
    B5EFICI>Y'S AGE OR1 ALT]NATIVELY1
    #IJ M9US ! AGE (! B5EFICI>Y'S SP\SE1
    AT ! "T ( XS ACQUISI;N2
  7F7 6ACQUIRE AN ANNU;Y "U : A
    B5EFICI>Y * OR GR&*ILD 7:E!R RESID5T
    OR NON-RESID5T71 OR A TRU/ "U : ! *
    OR GR&*ILD IS ! SOLE P]SON B5EFICI,Y
    9T]E/$ 9 ALL AM.TS PAYA# "U !
    ANNU;Y1 IS ! ANNUITANT =A T]M ( YE>S
                                     #DD
              ,,IT-#EJJ;,R           D#H
    N EXCE$+ #AH M9US ! AGE (! B5EFICI>Y
    AT ! "T ( XS ACQUISI;N2 OR
  7G7 6A C>RI] Z 3SID],N =A REGI/]$
    RETIRE;T 9COME FUND "U : ! B5EFICI>Y
    IS ! ANNUITANT4
  ,PAY;TS "U ! QUALIFI$ ANNUITIES M5;N$
  9 7D71 7E71 & 7F7 ABV MAY 2 RCVD ONLY
  7H7 9 ANNUAL OR M FREQU5T P]IODIC
    PAY;TS 2G9N+ N LAT] ?AN "O YE> AF !
    DATE ! ANNU;Y 0 ACQUIR$1 EA* ( : IS
    EQUAL EXCEPT ": ! PAY;TS >E CO/-(-
    LIV+ ADJU/$ OR O!RWISE FLUCTUATE 9
    ANY (! WAYS P]MITT$ "U SUBP>AGRAPHS
    #ADF7#C77B77:III7 TO 7;V72 &
  7I7 9 FULL OR "PIAL -MUT,N PAY;TS &1
    ": ! -MUT,N IS "PIAL1 9 ANNUAL OR M
    FREQU5T P]IODIC PAY;TS "!AF EA* ( :
    IS EQUAL EXCEPT ": ! PAY;TS >E CO/-
    (-LIV+ ADJU/$ OR O!RWISE FLUCTUATE 9
    ANY (! WAYS P]MITT$ "U SUBP>AGRAPHS
    #ADF7#C77B77;III7 6#ADF7#C77B77;V74
#BH4 ,! RULES 9 #BG ABV APPLY 6A
  B5EFICI>Y ( AN E/ATE :5 AM.TS >E RCVD
  0! E/ATE1 PROVID$ ! AM.T IS        #DE
              ,,IT-#EJJ;,R           E#H
  DESIGNAT$ 9 A3ORD.E ) SUBSEC;N
  #ADF7#H.A7 7SEE #AJ ABV7 &! LEGAL
  REPRES5TATIVE RCVS ! AM.T F AN ,,RRSP
  "U : ! DEC1S$ 0 ! ANNUITANT IMMLY
  PRIOR 6D1?4 ,!Y AL APPLY IF A JO9T
  ELEC;N "U SUBSEC;N #ADF7#H.IA7 IS MADE
  &A -MUT,N PAY;T IS TRANSF]R$ ON 2HALF
  (! SP\SE Z SU3ESSOR ANNUITANT DIRECTLY
  0! ISSU] (! ,,RRSP4

      ,REFUND ( PREMIUMS OR -MUT,N
      PAY;T--,:E!R 8QUALIFI$ P5.N
         9COME0 OR 8P5.N 9COME0
    
#BI4 ,A S+LE OR LUMP-SUM PAY;T \ ( AN
  ,,RRSP IS N AN ANNU;Y PAY;T & DOES N
  FALL )9 ! DEF9I;N ( 8P5.N 9COME10 :E!R
  ! ,,RRSP IS REGI/]$ OR DEREGI/]$ 7REF]
  6! CURR5T V].N ( ,9T]PRET,N ,BULLET9
  ,,IT-#DAE1 ,DEREGI/R,N ( ,REGI/]$
  ,RETIRE;T ,SAV+S ,PLANS1 =! M1N+ (
  DEREGI/]$ ,,RRSP74 ,3SEQU5TLY1 A
  REFUND ( PREMIUMS OR A -MUT,N PAY;T1 :
  IS A LUMP SUM1 RCVD 0! B5EFICI>Y   #DF
              ,,IT-#EJJ;,R           F#H
  (! DEC1S$ 7DIRECTLY "U ! ,,RRSP OR
  9DIRECTLY "? A TRU/ OR ! E/ATE7 IS NEI
  8QUALIFI$ P5.N 9COME0 NOR
--------------------------------------#I
  8P5.N 9COME0 Z DEF9$ 9 SUBSEC;N
  #AAH7#G7 = PURPOSES (! NON-REFUNDA#
  TAX CR$IT = ELIGI# P5.N 9COME "U
  SUBSEC;N #AAH7#C74

  ,IF ! B5EFICI>Y TRANSF]S ! LUMP-SUM
  REFUND ( PREMIUMS OR ! ISSU] (! ,,RRSP
  DIRECTLY TRANSF]S ! -MUT,N PAY;T 6AN
  ,,RRSP1 A REGI/]$ RETIRE;T 9COME FUND
  OR 6ACQUIRE AN ANNU;Y PURSUANT
  6P>AGRAPH #FJ7L7 7SEE #BG ABV71 ANNU;Y
  PAY;TS RCVD 0T B5EFICI>Y "U ! LATT]
  PLAN1 FUND OR ANNU;Y MAY1 DEP5D+ ON !
  AGE (! B5EFICI>Y1 QUALIFY =! NON-
  REFUNDA# TAX CR$IT = ELIGI# P5.N
  9COME4 ,= EXAMPLE1 IF ! B5EFICI>Y IS !
  SP\SE (! ANNUITANT & RCVS ANNU;Y
  PAY;TS "U ! LATT] PLAN1 FUND OR ANNU;Y
  2F R1*+ AGE #FE1 ^? PAY;TS >E N
  QUALIFI$ P5.N 9COME S9CE !Y >E N   #DG
              ,,IT-#EJJ;,R           A#I
  RCVD Z A 3SEQU;E (! D1? (! ANNUITANT4
  ,H["E1 ANNU;Y PAY;TS RCVD 0! SP\SE "U
  ! LATT] PLAN1 FUND OR ANNU;Y 9 ANY YE>
  9 : ! 9DIVIDUAL IS #FE YE>S OR OLD] W
  3/ITUTE P5.N 9COME4 ,! CURR5T V].N (
  ,9T]PRET,N ,BULLET9 ;,T-#EAG1 ,P5.N
  ,TAX ,CR$IT1 EXPLA9S ! NON-REFUNDA#
  TAX CR$IT = ELIGI# P5.N 9COME4

      ,PAY;TS & DEEM$ PAY;TS 6NON-
                RESID5TS
    
#CJ4 ,"U P>AGRAPH #BAB7#A77L71 A NON-
  RESID5T P]SON IS REQUIR$ 6PAY AN 9COME
  TAX ( #BE@3P 7OR A LESS] TAX TR1TY
  RATE7 ON AM.TS T A RESID5T ( ,CANADA
  PAYS OR CR$ITS OR IS DEEM$ 6PAY OR
  CR$IT 6! NON-RESID5T Z A PAY;T \ ( OR
  "U AN ,,RRSP1 OR A DEREGI/]$ ,,RRSP
  7SEE #BI ABV71 6! EXT5T T SEC;N #ADF
  WD H REQUIR$ ! AM.T 6BE 9CLUD$ 9 -PUT+
  9COME IF ! NON-RESID5T _H BE5 RESID5T
  9 ,CANADA4 7,SEE ! CURR5T V].N (
  ,9=M,N ,CIRCUL>S #GG-AF1 ,NON-     #DH
              ,,IT-#EJJ;,R           B#I
  ,RESID5T ,9COME ,TAX1 & #GB-BB1
  ,REGI/]$ ,RETIRE;T ,SAV+S ,PLANS47

  ,^! -;TS APPLY AL 6AM.TS DEEM$ "U
  P>AGRAPH #BAD7#C77C7 6H BE5 PD 6A NON-
  RESID5T TAXPAY] IF S* AM.TS WD 2
  REQUIR$ 6BE 9CLUD$ 9 ! 9COME (A
  RESID5T TAXPAY] 2C ( EI SUBSEC;N
  #ADF7#H.A71 #ADF7#H.H7 OR #ADF7#H.IA74
#CA4 ,! ROLLOV]S AVAILA# "U P>AGRAPH
  #FJ7L71 Z DESCRIB$ ABV 9 #BG &! LA/
  S5T;E ( #BH1 >E AVAILA# 6A NON-RESID5T
  B5EFICI>Y :O IS EI ! SP\SE OR A
  F9ANCI,Y DEP5D5T * OR GR&*ILD 7SEE #AG
  & #AH ABV71 )\T ,"P ,,XIII TAX 2+
  APPLICA#1 IF ALL ! REQUIRE;TS (
  P>AGRAPH #BAB7#A77L7 >E MET4 ,H["E1 !
  TRANSF] (! REFUND ( PREMIUMS OR -MUT,N
  PAY;T M/ 2 MADE 0! PAY] "!( ON 2HALF
  (! NON-RESID5T B5EFICI>Y PURSUANT 6AN
  AU?ORIZ,N 9 PRESCRIB$ =M 7,=M
  ,,NRTA#A1 ,AU?ORIZ,N = ,NON-,RESID5T
  ,TAX ,EXEMP;N74 ,! ROLLOV]1 )\T ,"P
  ,,XIII TAX 2+ APPLICA#1 IS         #DI
              ,,IT-#EJJ;,R           C#I
  P]MITT$ ONLY IF ! PAY;T 6! ,,RRSP OR
  REGI/]$ RETIRE;T 9COME FUND1 OR =!
  ANNU;Y1 WD 2 DEDUCTI# "U P>AGRAPH
  #FJ7L7 IF ! NON-RESID5T _H BE5 RESID5T
  9 ,CANADA "?\T ! YE>4
#CB4 ,:5 AN AM.T IS1 0R1SON ( SUBSEC;N
  #ADF7#H.A71 DEEM$ 6BE RCVD 0A NON-
  RESID5T SP\SE Z A REFUND ( PREMIUMS1 !
  AM.T IS SUBJECT 6NON-RESID5T TAX "U
  P>AGRAPH #BAB7#A77L7 0R1SON ( P>AGRAPH
  #BAD7#C77C7 Z NOT$ 9 #CJ ABV4 ,H["E1 !
  AM.T IS N SUBJECT 6! ROLLOV] PROVI.NS
  ( P>AGRAPH #BAB7#A77L7 2C X HAS BE5 PD
  6! ANNUITANT'S LEGAL REPRES5TATIVE &
  ?US _C 2 DIRECTLY TRANSF]R$ 6! SP\SE'S
  ,,RRSP Z REQUIR$ "U P>AGRAPH
  #BAB7#A77L74
#CC4 ,:5 A NON-RESID5T ANNUITANT DIES 2F
  A TRU/E$ ,,RRSP MATURES &! TRU/EE DOES
  N PAY ! AM.T 9 ! ,,RRSP UNTIL AF ! 5D
  (! YE> FOLL[+ ! YE> ( D1?1 A POR;N (!
  AM.T EQUAL 6! AM.T ( TOTAL PAY;TS \ (!
  ,,RRSP LESS ! 9COME (! ,,RRSP AF
  ,DECEMB] #CA ( T FOLL[+ YE>1 W 2   #EJ
              ,,IT-#EJJ;,R           D#I
  SUBJECT 6NON-RESID5T TAX "U P>AGRAPH
  #BAB7#A77#A74 ,! 9COME (! PLAN TRU/ =!
  P]IOD 2G9N+ AF ! 5D (! YE> FOLL[+ !
  YE> (! ANNUITANT'S D1? & 5D+ ON ! DATE
  ( PAY;T IS SUBJECT 6NON-RESID5T TAX "U
  P>AGRAPH #BAB7#A77L74 ,? TOPIC IS
  4CUSS$ 9 ! CURR5T V].N ( ,9T]PRET,N
  ,BULLET9 ,,IT-#DFE1 ,NON-,RESID5T
  ,B5EFICI>IES ( ,TRU/S4
#CD4 ,IF A NON-RESID5T SP\SE (A DEC1S$
  ANNUITANT1 Z B5EFICI>Y "U ! ,,RRSP1
  2COMES 5TITL$ 6ANNU;Y PAY;TS =!
  UNEXPIR$ GU>ANTE$ T]M (! DEC1S$'S LIFE
  ANNU;Y 3TRACT1 ! PAY;TS RECEIVA# 0!
  B5EFICI>Y MAY 2 TRANSF]R$1 2F !Y >E
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