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Can a specified beneficiary transfer money into the VPB account on or after the death of the member?

April 26, 2017account Beneficiary death money transfer vpb

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Can a specified beneficiary transfer money into the VPB account on or after the death of the member?

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No, a specified beneficiary cannot transfer money into the VPB account after the member dies. The Income Tax Act (ITA) does not allow this type of transfer. The ITA refers to “member” which excludes a beneficiary.