A Gift of a Registered Account
Naming Concordia Foundation as the beneficiary of your registered account is a simple and meaningful way to create a lasting legacy while supporting exceptional healthcare for future generations.
As part of your estate plan, you may choose to designate Concordia Foundation as the full or partial beneficiary of your registered account. Eligible registered plans include:
- Registered Retirement Savings Plan (RRSP)
- Registered Retirement Income Fund (RRIF)
- Tax-Free Savings Account (TFSA)
You retain complete ownership and use of your registered account throughout your lifetime. Upon your passing, any remaining funds are transferred directly to the beneficiaries you have named, in accordance with the terms of your plan.
Benefits of Naming Concordia Foundation as a Beneficiary
A gift of a registered account can provide several practical advantages:
- Simple to arrange. In most cases, you can complete or update a beneficiary designation form through your financial institution without changing your Will.
- Your assets remain available to you. You continue to manage and use your registered account for as long as you need it.
- May bypass your estate. Where permitted by provincial law and depending on how the beneficiary designation is made, proceeds generally pass directly to the named beneficiary rather than through your estate, which may reduce estate administration costs and simplify administration.
- Creates a lasting impact. Your gift will help advance compassionate care, innovative programs, and healthcare excellence throughout the Concordia community.
Tax Considerations
The tax treatment of registered accounts varies depending on the type of plan:
Registered Account
General Tax Treatment at Death
RRSP
No tax is payable on the capital gain for eligible publicly traded securities donated directly to a registered charity.
RRIF
Receive a charitable tax receipt for the full fair market value of the securities at the time of the gift.
TFSA
More of your investment can support the charitable causes you care about.
Registered Account
RRSP
RRIF
TFSA
General Tax Treatment at Death
No tax is payable on the capital gain for eligible publicly traded securities donated directly to a registered charity.
Receive a charitable tax receipt for the full fair market value of the securities at the time of the gift.
More of your investment can support the charitable causes you care about.
How to Make a Gift
- Speak with your financial advisor or estate planning professional to determine whether a gift of a registered account aligns with your overall estate plan.
- Request a beneficiary designation form from your financial institution.
- Name Concordia Foundation as the full or partial beneficiary of your RRSP, RRIF, or TFSA.
- Let us know about your plans if you wish. While not required, it allows us to thank you for your generosity and ensure we have the information needed to honour your intentions.
Tax laws are subject to change, and every individual’s circumstances are unique. Concordia Foundation encourages donors to consult with their financial advisor, accountant, or lawyer to understand how a gift of a registered account may apply to their personal tax and estate planning objectives.
