Form RC4625 Rollover to a Registered Disability Savings Plan (Rdsp) Under Paragraph 60(M) - Canada

Form RC4625, Rollover to a Registered Disability Savings Plan (RDSP) under Paragraph 60(m), is used in Canada to transfer funds from a Registered Retirement Savings Plan (RRSP) or Registered Retirement Income Fund (RRIF) into an RDSP. This form allows individuals with disabilities or their legal representatives to rollover funds from an RRSP or RRIF into an RDSP without incurring any tax consequences. The purpose is to provide financial support and assistance for individuals with disabilities in Canada.

Individuals who want to transfer funds from a Registered Retirement Savings Plan (RRSP) to a Registered Disability Savings Plan (RDSP) under Paragraph 60(m) would typically file the Form RC4625.

FAQ

Q: What is Form RC4625?A: Form RC4625 is a form used in Canada to apply for a rollover to a Registered Disability Savings Plan (RDSP) under Paragraph 60(M).

Q: What is a Registered Disability Savings Plan (RDSP)?A: A Registered Disability Savings Plan (RDSP) is a savings plan in Canada that helps people with disabilities save for the future.

Q: Who can use Form RC4625?A: Form RC4625 is used by individuals who want to rollover funds into a Registered Disability Savings Plan (RDSP) as specified in Paragraph 60(M) of the Income Tax Act in Canada.

Q: What is the purpose of the rollover to a Registered Disability Savings Plan (RDSP)?A: The purpose of the rollover is to transfer funds from a registered retirement savings plan (RRSP), registered retirement income fund (RRIF), or specified pension plan (SPP) to a Registered Disability Savings Plan (RDSP) without tax consequences.