A T4RIF slip is the statement your RRIF carrier sends to report income you received from a registered retirement income fund in the year. Box 16 is the taxable amount you report, box 24 shows how much of that was above your minimum amount, and box 28 is the income tax that was deducted, which you claim on line 43700 of your return.
The box rules below are from the back of the 2026 T4RIF slip and the CRA's guidance for issuers, as of October 2026. Your carrier (the bank, insurer or trust company) fills out the slip; your job is to put each box on the right line.
The T4RIF boxes you'll use
| Box | What it shows | Where it goes |
|---|---|---|
| 16 | Taxable payments received in the year | Report it as income (the CRA's line 11500 guidance explains which line applies to you) |
| 18 | Fair market value of the RRIF at the annuitant's death | See Guide T4040 for how to report it |
| 20 | Value just before the RRIF became an amended fund | Line 11500 if you were 65 or older on December 31, 2025, otherwise line 13000 |
| 22 | Other income or deductions, such as from a deceased annuitant's RRIF | Line 11500 or 13000, deductions in brackets on line 23200 |
| 24 | The taxable part above your minimum amount | Already inside box 16, so don't add it again |
| 28 | Income tax deducted | Line 43700 |
| 35 | Amount transferred on a marriage or common-law breakdown | Not included in income |
| 37 | Amount transferred to buy an advanced life deferred annuity | Don't report it and don't claim a deduction |
The minimum amount and why box 24 exists
Every RRIF has a minimum amount that has to be paid out each year, and the slip separates it from anything above it. Here's the detail people miss: the carrier isn't allowed to withhold income tax from the minimum amount. Tax is only withheld from the part you take above it, which is the amount in box 24.
That's why so many retirees get a tax bill in April. If you only take the minimum, nothing is withheld at source, yet the full box 16 amount is still taxable. If you have other pension income too, you may owe tax on the RRIF payments when you file, so set funds aside during the year.
Box 24 is not extra income
A common mistake is adding box 24 to box 16. The CRA's back-of-slip note is clear that the box 24 amount is already included in box 16, so you only report box 16. Box 24 is there for two reasons: to show where withholding applied, and because, if the excess relates to RRSP contributions you couldn't deduct, you may be able to claim an offsetting deduction on line 23200 using Form T746.
Spousal RRIFs: whose income is it?
If your spouse or common-law partner contributed to the RRSP that became your RRIF, part of the payment can be taxed in their hands instead. The CRA's guidance for issuers is clear on one point: if the annuitant receives only the minimum amount during the year, the payment is the annuitant's income and not the contributor's income. Taking more than the minimum from a spousal RRIF soon after contributions is where the attribution question starts.
Who sends the slip, and when to chase it
The T4RIF is filled out by the payer, which the CRA calls the issuer or carrier: your bank, insurer or trust company. The CRA tells issuers to file information returns electronically, warns that paper filing can bring penalties, and offers a free Web Forms service that lets them file and print copies for you. So if your slip is missing in the spring, it's worth asking the carrier whether it went out, before you file without it.
Box 20 confuses people because it only shows up when a RRIF becomes an amended fund, meaning the plan no longer qualifies as a RRIF. Its value is then income: on line 11500 if you were 65 or older on December 31, 2025, otherwise on line 13000.
How to report a T4RIF, step by step
- Check the year, your SIN and the payer's name and account number against your records.
- Report the box 16 amount as income on your return.
- Ignore box 24 when adding up income, because it's already in box 16.
- Enter the tax deducted from box 28 on line 43700.
- Keep the slip with your records, even if you file online and the CRA already has a copy.
When the slip is for someone who has died
If a RRIF annuitant has died, box 18 shows the fair market value of the fund at the date of death, and box 30 shows the date. Box 36 is used to work out what goes on the deceased annuitant's final return. Information Sheet RC4178, Death of a RRIF Annuitant, PRPP Member, or ALDA Annuitant, explains the rules. Box 22 also covers some payments from a deceased annuitant's RRIF, and where they go depends on your age and whether you were the spouse or common-law partner.
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A RRIF usually starts life as an RRSP. If you're still taking lump sums from an RRSP rather than a RRIF, that income comes on a T4RSP slip instead, with its own withholding rules.
The verdict
The T4RIF looks busy, but most people only need three boxes: report box 16, claim box 28 on line 43700, and leave box 24 alone because it's already counted. If you only take the minimum, plan for tax on it, because nothing was withheld. If you're still building the plan, your RRSP deduction limit is the other half of the picture.
Frequently asked questions
Where does box 16 of the T4RIF go?
Box 16 is the taxable amount received in the year. Report it as income on your return; the CRA's line 11500 guidance explains which line applies to you.
Do I add box 24 to box 16 on my T4RIF?
No. Box 24 is the taxable part above the minimum amount and it's already included in box 16. Only report the box 16 amount.
Is tax withheld on the RRIF minimum amount?
No. The carrier must not withhold income tax from the minimum amount. Tax is withheld only on the excess shown in box 24.
Where do I claim the tax deducted on a T4RIF?
Enter the box 28 amount on line 43700 of your return.
What is box 35 on a T4RIF?
It's the amount directly transferred on the breakdown of a marriage or common-law partnership, and it isn't included in income.
