# RRIF Withdrawal question



## baker3232$ (Mar 13, 2018)

First post, have a question. I have an rrsp and a lira account that will in a few years be changed to a rrif to begin withdrawals. For example, if I hold 5 mutual funds in my rrif, and I make the minimum withdrawals required, do I decide which fund or funds are sold off for the withdrawals to come from or is an equal amount taken from each fund, converted to cash, and sent to me. Thanks for any answers I get. Btw, been reading the forum for ages and appreciate all the knowledge here.


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## pwm (Jan 19, 2012)

It depends on what arrangements you make with your FI. They can take care of it for you, or you can be in complete control if you wish. In early January each year, I sell various amounts of each of my funds to keep the asset allocation on track. When the cash is there, I call and transfer the total cash balance to my non-registered account and stipulate that it is my annual withdrawal for that year.


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## OptsyEagle (Nov 29, 2009)

You decide. If you haven't told anyone where to take the money from they will create a negative cash balance inside the RRIF ... and they will not like that.


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## like_to_retire (Oct 9, 2016)

baker3232$ said:


> First post, have a question. I have an rrsp and a lira account that will in a few years be changed to a rrif to begin withdrawals. For example, if I hold 5 mutual funds in my rrif, and I make the minimum withdrawals required, do I decide which fund or funds are sold off for the withdrawals to come from or is an equal amount taken from each fund, converted to cash, and sent to me. Thanks for any answers I get. Btw, been reading the forum for ages and appreciate all the knowledge here.


It's fairly easy to arrange for the withdrawal(s) to occur at a specific date(s) in cash. You can then decide for yourself what to sell to be sure the cash is available in the account.

ltr


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## twa2w (Mar 5, 2016)

As noted by other posters you can convert enough of your holdings to cash prior to your payment date so that there is sufficient cash to fund your payment.

If you do not, it will depend on the provider of your RIF. 
Some have a standard formula, ie take from least risky fund first. Others may create an overdraft( negative cash balance) in your RIF.
You would have to check with your provider to ascertain their policy.


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## canew90 (Jul 13, 2016)

We send our broker a letter in Dec telling them what we would like done in Jan. We may ask them to sell and transfer the cash to our bank, transfer shares In Kind to our TFSA and also to our Non-Reg account. You have till the end of the next year to withdraw the min required, so it's really what you'd like or need.


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