The minimum payment is calculated at the beginning of each calendar year using the fair market value of the previous year. The prescribed percentage factor is linked to either the plan holder's (or spouse's, if elected) age . (Please visit the Canada Revenue Agency website for more information).

Please note: Once you elect to use either your age or your spouse's age for calculating the minimum at the time the RRIF was being set up, that election cannot be changed at a later date.

There is no minimum RRIF payment required to be made in the year the plan is opened. If you open a RRIF account before the age of 71, the first payment starts in the following year. There is no maximum withdrawal limit except on LIF.

Yes, you can transfer most investments in-kind from your RRSP to RRIF. Generally, there will not be any tax implications if the transfer is direct. 

Yes, there are different frequencies you can choose for your RRIF withdrawal such as monthly, quarterly, semi-annually or annually.

You must ensure the cash is available in your account for the withdrawal payment. You may liquidate only the required amount of assets and the remaining investments can continue to remain invested and grow.

Yes, you can use your younger spouse's or common law partner's age to calculate your minimum withdrawal amount. This must be set-up before your first payment from your RRIF. 

If you want to take annual minimum payment as in-kind from RRIF to your Direct Investing Personal Account, then you must select the frequency as 'yearly' and the payment date should be set to December 30.  You must also call TD Direct Investing anytime between January 1 to December 15, to request in-kind payment or to cancel the scheduled payment on December 30. The request must be submitted at least 7 business days before the scheduled withdrawal date.

You can complete an unscheduled cash withdrawal from your RRIF in WebBroker by following these steps, provided you have the cash available in your account:

1.      Click the Accounts tab in the top left.

2.      Select Holdings under Account Details.

3.      Select the RRIF account in the dropdown.

4.      Click the RRIF Withdrawal tab.

5.      Click the Make Withdrawal button and follow the prompts.

Note: When submitting an unscheduled cash withdrawal request, you can choose to continue with, or cancel the scheduled withdrawal(s) for the remainder of the year. If you choose to cancel your scheduled withdrawal(s) for the remainder of the year, the request must be submitted at least 7 business days before the scheduled withdrawal date.

Alternatively, you can submit your request by contacting TD Direct Investing. Please log into the TD App and choose Contact Us or contact TD Direct Investing at 1-800-465-5463 to speak to an Investment Representative.