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What is the maximum withdrawal from a prescribed RRIF?

April 26, 2017maximum prescribed RRIF withdrawal

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What is the maximum withdrawal from a prescribed RRIF?

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There is no maximum annual withdrawal restriction imposed on the prescribed RRIF and the owner may withdraw part or all of the funds at any time. The withdrawal will be considered part of your income for the year and you will have to pay tax. There is no withholding tax on the minimum withdrawal. Tax is required to be withheld on withdrawals that exceed the minimum.