Successor Annuitant: The spouse or common law can receive all the funds directly into their RRSP without triggering any taxes at the time of the transfer. The funds can continue to grow within the RRSP without immediate tax implications.
Beneficiary: Funds in the RRSP are paid to the beneficiary. The full value of the RRSP is considered an income of the deceased account holder. Taxes must be paid on the amount paid to the beneficiary. |