Protected B when completed
  Additional Tax on Accumulated Income Payments from RESPs T1172

Use this form to calculate the amount of additional tax you have to pay on accumulated income payments (AIPs) you received in 1999 and later years from registered education savings plans (RESPs).

For information on what are accumulated income payments and if you need to fill out this form, see the instructions on the next page.

Identification

Last name: First name and initials: SIN:
Address:
 

Calculating the additional tax on accumulated income payments (AIPs) received during the year

Does Part A apply to you? Yes  No
                   
Part A - Complete this part if you are the original subscriber, you acquired the former subscribers' rights as a consequence of marriage breakdown, or where there is no subscriber of the plan, you are or were the spouse or common law partner of a deceased original subscriber.
 
1. Total of all AIPs you received or had transferred by the promoter to an RRSP, PRPP, or SPP on your behalf, during the year. This amount is shown in box 040 in the "Other Information" section of all the T4A slips issued to you for the year the payments were received. 68270  1 
 
2. Total amounts you or your promoter contributed on your behalf to your RRSP, PRPP, or SPP or your spouse's or common-law partner's RRSP or SPP, in the year you received the AIPs or the first 60 days of the following year, that you deducted on line 20800 of your tax return for the year you received the AIPs. This amount cannot be more than your RRSP deduction limit for that year.  2 
3. Amount from line 1 or 2, whichever is less.  3 
4. Maximum lifetime RRSP contribution limit that can be used to reduce or eliminate the amount of AIPs subject to the additional tax.  4 
5. Total of all amounts used to reduce the amount of additional tax payable on AIPs received in previous years (if applicable). This amount is the total of the amount entered at line 5 of all your T1172 forms for 1998 and at line 7 of all your T1172 forms for 1999 and later. -  5 
6. Line 4 minus line 5 =  6 
7. Amount from line 3 or 6, whichever is less. -  7 
8. Amount of AIPs subject to the additional tax: Line 1 minus line 7. =  8 
9. Rate of the additional tax on AIPs. x 20%  9 
10. Additional tax on AIPs: Line 8 multiplied by line 9. If you were a resident of Quebec on December 31 of the year you received the AIPs, complete Part C below. Otherwise, enter this amount on line 41800 of your Schedule 1 for the year you received the AIPs. =  10 
 
Part B - Complete this part only if Part A does not apply to you.
11. Total of all AIPs you received from RESPs during the year. This amount is shown in box 040 "Other information" area of all T4A slips issued to you for the year the payments were received 68280  11 
12. Rate of additional tax on AIPs. x 20%  12 
13. Additional tax on AIPs: Line 11 multiplied by line 12. If you were a resident of Quebec on December 31 of the year you received the AIPs, complete Part C below. Otherwise, enter this amount on line 41800 of your Schedule 1 for the year you received the AIPs. =  13 
 
Part C - Complete this part only if you were a resident of Quebec on December 31 of the year you received the AIPs.
14. Enter the amount from line 10 or 13, whichever applies.  14 
15. Adjustment for residents of Quebec. x 60%  15 
16. Additional tax on AIPs: Line 14 multiplied by line 15. Enter this amount on line 41800 of your Schedule 1 for the year you received the AIPs. =  16 
 

Certification

         
  I certify that the information given on this form is correct and complete.
 
 
  Signature Date (YYYY|MM|DD)