CDN non resident tax withheld on LIF/RIF withdrwals

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artistic95
Posts: 27
Joined: Wed Sep 26, 2012 12:27 pm
Location: Lake Wales, Florida,33859

CDN non resident tax withheld on LIF/RIF withdrwals

Post by artistic95 »

I am a US resident retired and making periodic and lump sum withdrawals from my RIF and LIF and
subject to a 15 % tax witholding by CDN government upon withdrawal. I do not file CDN tax returns.

How much can I take out from each before the withholding increases to 25%. I think I understand RIF but am confused on LIF

Thank you
Artistic95
Thanks, Artistic95
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nelsona
Posts: 18676
Joined: Wed Oct 27, 2004 2:33 pm
Location: Nowhere, man

Re: CDN non resident tax withheld on LIF/RIF withdrwals

Post by nelsona »

10% of the value on Jan 01 for both LIF and RRIF.
After 20 years, I am severely cutting back on responses. Do not ask specifically for my help. There are a few others on this board that can answer most questions. All the best
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