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Maximum payment calculations for an lrif

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Reference no: EM132985815

With regards to a LRIF, which of the following statements are true?

I. Maximum payment calculations for an LRIF is the same as the formula used for a LIF

II. Minimum LRIF payments are not subject to taxation

III. An LRIF is subject to the same rules as a RRIF regarding a designated beneficiary

IV. The minimum required payment in the first calendar year of an LRIF being established is zero

Reference no: EM132985815

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