CSI IFC Question Answer
What is a requirement when holding an RRIF?
The RRIF must be fully managed as opposed to self-directed
The RRIF must be terminated at the end of the year in which the client turns age 71
The term must be based on the age of the holder of the RRIF
Minimum annual withdrawals must be made from the RRIF
An RRIF (Registered Retirement Income Fund) requires annual minimum withdrawals starting the year after it is established.
It can be either self-directed or managed.
The RRSP must be converted to an RRIF or annuity by the end of the year the holder turns 71; the RRIF itself is not terminated at that age.
Withdrawals are based on the age of the annuitant or spouse.
Thus, the key requirement is minimum annual withdrawals.
TESTED 24 Oct 2025
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