A registered retirement income fund (RRIF) is an account registered with the federal government. You can convert your RRSP to a RRIF any time, as long as you do so by December 31 of the year you turn 71.
RRIF withdrawal rules
In the calendar year after you open a RRIF, you have to start withdrawing money from it. The minimum amount is based on your age and a percentage of the value of your RRIF on January1.
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