Registered Funds

Benefits of registered funds:

• Creates a donation tax receipt to offset taxes due in the year of death, when the remaining funds in most RRSPs/RRIFs become fully taxable as income.
• Set-up is simple and usually involves a form obtained from your financial advisor.
• Gifts can be kept private, as they are not part of your will.
• Balance of your registered fund is not included in probate.

How to arrange a gift of RRSPs and RIFFs:

Fill out the beneficiary designation clause of your RRSPs and RRIFs using the legal name “The Trinity College School Foundation.” Our charitable registration number is 831549746RR0001.

Example #1: Name TCS as a beneficiary of your RRSP/RRIF

John fills out the beneficiary designation with his financial advisor and donates $100,000 of a total balance of $150,000 to TCS when he passes, thus earning his estate a $46,000 tax credit.

Use RRIF assets to make an immediate and future impact:

If you don’t need the required annual withdrawal from your RRIF, you may contribute the maximum allowable amount that is dictated by your age.

Example #2: Donate annual withdrawal from RRIF

Andrew is 78 years of age and has a variety of retirement income sources that includes CPP, OAS, private pension, rental and non-registered income. The minimum withdrawal amount for age 78 is 8.3%. Andrew has an RRIF balance of $500,000 and does not need the income. Overall, he is comfortable living on an annual income of $60,000 and welcomes the $6,590 tax credit.