The Canada T2220 E form is the Canada Revenue Agency (CRA) document used to authorize a direct transfer of RRSP or RRIF property between spouses or common-law partners following a relationship breakdown. This transfer bypasses the usual tax withholding rules, allowing the funds to move directly from one plan to another without immediate tax consequences.
To complete the transfer, both the annuitant (the person transferring the funds) and the recipient (the spouse receiving them) must sign the form. You must also attach a copy of the relevant legal document, such as a divorce decree, court order, or written separation agreement, that directs or permits the transfer.
The completed T2220 E form is submitted to the plan issuer, not to the CRA directly. The issuer processes the transfer and reports it using a T4RSP or T4RIF slip. Understanding who signs, what documents to attach, and where to submit the form are the key steps to a successful and tax-efficient RRSP or RRIF transfer during a marriage breakdown.
| Question | Answer |
|---|---|
| Form Name | Canada Form T2220 E |
| Form Length | 2 pages |
| Fillable? | No |
| Fillable fields | 0 |
| Avg. time to fill out | 30 sec |
| Other names | annuitant, t2220, T4RIF, Transferees |