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New Member
posted Jan 17, 2024 11:34:26 AM

If you are a named beneficiary, would you be assessed further tax if taxes had been deducted at the source of a RPP?

The RPP was the deceased family members.

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2 Replies
Moderator
Jan 17, 2024 11:52:23 AM

First, let us say how sorry we are for your loss. 

Here is the link with the information available from the Canada Revenue Agency (CRA) about the Death of a PRPP member. If added clarification is needed you may wish to contact the CRA at 1-800-959-8281. You may also contact the financial institution holding the RPP.

 

Thank you for choosing TurboTax.

New Member
Jan 20, 2024 4:28:23 AM

Thank you for the reply, Ginette.  As it turns out, when lump sum payments are issued only Federal tax is withheld.  The beneficiary must still pay provincial taxes on these payments.