Unmatured RRSP of the Deceased

This amount is taxable in terminal tax of the deceased unless it’s transferred to “Qualifying Survivor”. For definition of Qualifying Survivor, Click Here

Fill out form T2019 - Click here

Let’s focus on “Financially dependent child or grandchild” as one of the Qualifying Survivors.

What should the qualifying survivor do with the money? It depends on the situation. See this table from CRA’s website: Click here

Related:

How to calculate the reduction to the amount that we consider the deceased annuitant received at death - Click here

See below from CRA’s website, as per this link

Financially dependent child or grandchild – If you are a child or grandchild of an annuitant, you are generally considered financially dependent on that annuitant at the time of the annuitant’s death if, before that person’s death, you ordinarily resided with and depended on the annuitant, and you meet one of the following conditions:

• your net income for the previous year (shown on line 23600 of your Income Tax and Benefit Return) was less than the basic personal amount (line 30000 of your Income Tax and Benefit Return) for that previous year

• you are infirm and your net income for the previous year was equal to or less than the basic personal amount plus the disability amount (line 31600 your Income Tax and Benefit Return) for that previous year

If you were away from home at the time of the annuitant’s death because you were attending school, we still consider you to have resided with the annuitant.

If you did not reside with the annuitant at the time of the annuitant’s death but received significant financial support from the annuitant and you meet one of the above conditions, we may consider you to be financially dependent on the annuitant at the time of the annuitant death, if you can establish that you were. To do so, you or the legal representative should send a written request to your tax services office explaining why we should consider you to be financially dependent on the annuitant at the time of the annuitant’s death.

If your net income was more than the amounts described above, we will not consider you to be financially dependent on the annuitant at the time of the annuitant’s death unless you can establish that you were. To do so, send a written request as described above.