What's new for RRSPs and related plans

RRSP/RRIF Losses After Death

If there is a decrease in the value of an unmatured RRSP or a RRIF between the date of death and the date of final distribution to the beneficiary or estate, the legal representative for the deceased person can request the amount of the decrease to be deducted on the deceased’s final return. This applies where the final payment from the RRSP or the RRIF occurs after 2008 . For more information, see Death of an RRSP Annuitant or Death of a RRIF Annuitant.

Canadian resident who works in the U.S.

For 2009 and later years, a resident of Canada who works in the U.S. (commonly referred to as a “commuter”) and is a member of a qualifying retirement plan in the U.S. can deduct their contributions to that plan on their Canadian income tax and benefit return, as long they meet certain conditions and subject to certain limits.

Forms and publications

• Guide T4040, RRSPs and Other Registered Plans for Retirement