Do I enter a final one time LIF settlement where I have no tax slip as a T4RIF with the income on line 16 taxable amounts and income tax deducted on line 28 ?

[charliemgirard]

As this is in addition to my regular RIF are there any penalties?

[TurboTaxMonica1 · Accepted solution]

You should have received a T4RIF for this amount. If you have CRA's My Account, you can go there to check if it was file with the CRA or call the financial institution about it.

There is no penalty for taking out amounts from a RRIF.