The tax implications of RRSP and RRIF withdrawals can be costly. RRSPs and RRIFs are among the most heavily taxed assets in an estate settlement scenario. Depending on what your financial situation is, it may be beneficial to consider donating your RRSPs or RRIFs, in whole or in part, to the HEC Montréal Foundation during your lifetime or upon your death.
In Quebec, a charitable organization can be designated as an RRSP or RRIF beneficiary only through the donor’s will or life insurance policy. (Note that certain paperwork must be filled out for an RRSP or RRIF held under a life insurance contract.)
Please let us know about the arrangements you have made.
The HEC Montréal Foundation’s CRA registration number is 118924158 RR0001.