7 October 2020 APFF Financial Strategies and Instruments Roundtable Q. 4, 2020-0851621C6 F - RRSP or RRIF on death – Joint election -- summary under Subsection 146.3(6.1)

Where a RRIF is the subject of a specific bequest made to the deceased annuitant's spouse under a Quebec will and the RRIF proceeds are distributed by the RRIF issuer directly to the surviving spouse, CRA considers that the RRIF proceeds passed through the estate rather than coming directly out of the RRSP, as required under the “designated benefit” definition. Accordingly, in order for the surviving spouse to be able to transfer the RRSP proceeds tax-free to that survivor’s RRSP, CRA requires that an election under s. 146.3(6.1) be made (on Form T1090).