Withdrawing from a RRIF or LIF

Learn how withdrawals from RRIF and LIF account work and the potential tax implications of them.

Each of these accounts has a yearly minimum payment that must be withdrawn, and no withholding tax is applied. You can choose how these withdrawals are made and at which frequency when opening the account.

When you open a Questrade RIF or LIF account, you are asked to provide your payment preferences on the account application forms.

This can also be adjusted on a yearly basis if your needs change. If you would like to make changes to your payment schedule, fill out this form (opens in a new tab) and upload (opens in a new tab) it to your account.

You are able to withdraw greater than the yearly minimum if you would like by placing a manual withdrawal request through your account online (opens in a new tab).

RIFs can be withdrawn up to the entire value of the account, and LIFs have a maximum withdrawal cap, per year. For more information about LIF maximums, please see the relevant government site here (opens in a new tab).