Apply the CRA prescribed factor for your age to your RRIF's January 1 value to find the minimum you must withdraw this year.
Every year after the year you open a RRIF you must withdraw at least a minimum amount: the plan's fair market value on January 1 multiplied by a prescribed factor set in the Income Tax Regulations. For ages 70 and under the factor is 1 ÷ (90 − age), so 4.00% at 65 and 5.00% at 70. From 71 a table applies: 5.28% at 71, 5.40% at 72, 5.82% at 75, 6.82% at 80, 8.51% at 85, 11.92% at 90 and 20% at 95 or older. You may elect to use a younger spouse's or common-law partner's age, which lowers the minimum, but only when you set up the RRIF.
How to use it: enter the January 1 value, the factor for your (or your spouse's) age on January 1, and any extra amount you want to take. The calculator shows the year's total withdrawal and what remains before investment growth.
Worked example: a $400,000 RRIF for someone who was 71 on January 1 has a minimum of $400,000 × 5.28% = $21,120. No tax is withheld on that minimum, but it is fully taxable income. Taking an extra $10,000 would attract withholding on the $10,000 (20% outside Quebec).
Limits: no minimum is required in the calendar year the RRIF is opened. Factors are those on the CRA's prescribed factors chart; check it before relying on the figure. See converting an RRSP to a RRIF at 71.
Pitfalls, Protection and Official Sources
How the 15% OAS recovery tax interacts with RRIF minimums and RRSP withdrawals, why TFSA withdrawals do not count, a worked 2026 example and drawdown tactics to consider.
Worked Scenarios and Checklists
What you must do with an RRSP by December 31 of the year you turn 71, RRIF vs annuity vs cash, the prescribed minimum factors, the younger-spouse election and the first RRIF year.
