S13. Our registered charity received a donation in the form of an RRSP death benefit. How should we issue the receipt?

S13. Our registered charity received a donation in the form of an RRSP death benefit. How should we issue the receipt?


Short answer

The proceeds of an RRSP death benefit may be bequeathed to the charity upon the death of the donor. For receipting purposes, the proceeds bequeathed represent the fair market value of the gift. A receipt may be issued for the fair market value.

Long answer

The annual contributions paid by the taxpayer until his or her death do not constitute charitable donations.