Income Tax Act — I-3.3 66
66 (1) The definition issuer in subsection 146(1) of the Act is replaced by the following: issuer means the person referred to in the definition retirement savings plan (a) with whom an annuitant has a contract or arrangement described in paragraph (a) or (b) of that definition, or (b) that established an arrangement described in paragraph (c) of that definition; ( émetteur ) (2) The definition benefit in subsection 146(1) of the Act is amended by striking out “and” at the end of paragraph (c), by adding “and” at the end of paragraph (c.1) and by adding the following after paragraph (c.1): (c.2) an amount that is paid or transferred to an unclaimed property authority in respect of an unlocated individual (3) The portion of the definition refund of premiums in subsection 146(1) of the Act before paragraph (a) is replaced by the following: refund of premiums means any amount paid out of or under an RRSP (other than a tax-paid amount in respect of the plan or an amount paid from an arrangement described in paragraph (c) of the definition retirement savings plan in this subsection) as a consequence of the death of the annuitant under the plan, (4) The definition retirement savings plan in subsection 146(1) of the Act is amended by striking out “or” at the end of paragraph (a), by adding “or” at the end of paragraph (b) and by adding the following after paragraph (b): (c) an arrangement established at the direction of an unclaimed property authority to receive property from an RRSP or registered pension plan in respect of an unlocated individual; ( régime d’épargne-retraite ) (5) Subsection 146(3) of the Act is amended by adding the following after paragraph (b): (c) does not meet the conditions in subsection (2), if the plan is an arrangement described in paragraph (c) of the definition retirement savings plan in subsection (1); (7) Section 146 of the Act is amended by adding the following after subsection (22): Unclaimed property authority (23) If an unclaimed property authority has established an RRSP to receive property in respect of an unlocated individual, (a) subsections (8.8) to (8.93) do not apply to the unlocated individual in respect of the property (or property substituted for it) while such property is held under the RRSP; (b) paragraph (4)(c) does not apply to any trust governed by the RRSP; and (c) subsection (20) is to be read without reference to its paragraph (c) in respect of an amount credited or added to a deposit while the property (or property substituted for it) is held under the RRSP. Unclaimed property authority — transfers (24) If an unclaimed property authority has established an RRSP to receive property in respect of an unlocated individual and the property (or property substituted for it) is claimed by an individual that is eligible to receive it in accordance with applicable law, the individual who made the claim is deemed to be the annuitant under the RRSP for the purposes of subsection (16), provided that individual is or was (a) if the property was received by the authority from a registered pension plan, the member (as defined in subsection 147.1(1)) of the registered pension plan; (b) if the property was received by the authority from an RRSP, the annuitant (as defined in subsection 146(1)) of the RRSP; (c) a spouse or common-law partner of an individual described in paragraph (a) or (b), immediately before the death of that individual; or (d) a child or grandchild of an individual described in paragraph (a) or (b) who was, immediately before the death of that individual, financially dependent on that individual for support because of mental or physical infirmity.