25% reduction of the 2008 registered retirement income fund (RRIF) minimum amount

Program(s) affected: T1 Document created: 03 16, 2009 Tax year(s): 2008 Document last modified: Version(s): 12.01, 12.10, 12.11, 12.13 Problem status: NA

How do I enter the new contribution to a Registered Retirement Income Fund (RRIF) further to the 25% reduction of the 2008 registered retirement income fund (RRIF) minimum amount?

Following the 25% decrease of the minimum withdrawal amount from the Registered Retirement Income Fund (RRIF) for 2008, individuals who have already withdrawn an amount higher than the reduced minimum for 2008 may contribute again to their RRIF for an amount equal to 25% of the proposed reduction.

For those who chose to re-contribute, use the keyword Taxable-Amt and select "Portion - direct or indirect transfer to RRSP" or "Portion - direct or indirect transfer to RRIF" depending on the case. The deduction will be entered on line 208 or 232 of the federal return and on line 250 point 4 of the Quebec return.

Example

If the taxpayer withdrew $4000 as an unreduced minimum amount in 2008, following this measure he/she can re-contribute an amount up to the 25% minimum amount reduction:
$1000 (25% * $4000). In DT Max:

T-Slip	T4RIF
Name	ABC
TAXABLE-AMT	Taxable amounts from RRIF 4,000.00
TAXABLE-AMT	Portion - direct or indirect transfer to RRIF 1,000.00