Here are answers to some of the most common questions about creating a gift of registered investments to Heart & Stroke.
What is a registered investment?
A registered investment refers to types of investments or investment accounts that are registered with a regulatory authority such as the Canada Revenue Agency.
In Canada, registered investment accounts include Registered Retirement Savings Plans (RRSPs) and Registered Retirement Income Funds (RRIFs). These accounts typically offer tax advantages that encourage Canadians to save and invest.
What types of registered investments can be donated?
Registered Retirement Savings Plan (RRSP):
A Registered Retirement Savings Plan (RRSP) is a savings and investment account registered with the Government of Canada. It is designed to help and encourage individuals to save for retirement. The plan’s assets grow on a tax-deferred basis and contributions to an RRSP are tax-deductible.
Registered Retirement Income Fund (RRIF):
A retirement account registered with the Government of Canada that is designed to provide retirees with an income stream from their savings. Individuals who have RRSPs are required to convert their savings into an income option when they reach 71, and RRIFs are one of the most popular choices. Investment earnings in a RRIF are not taxable, however withdrawals are considered taxable income.
Registered Education Savings Plan (RESP):
An RESP is a savings and investment account which is registered with the Government of Canada. It is designed to help families save for their children’s post-secondary education. The investments in an RESP grow tax-free until the funds are withdrawn to pay for education costs.
How do you know if this type of gift is right for you?
Everyone’s financial situation is different. When considering a gift of registered investments, you should speak with a tax professional and financial advisor to help you achieve your objectives.
Do you have the correct information for your registered investment fund provider?
Our full legal name, address and charitable registration number is:
Legal Name: Heart and Stroke Foundation of Canada
Mailing address: 2300 Yonge Street, Suite 1200, Box 2414, Toronto ON M4P 1E4
Charitable Registration #: 10684 6942 RR0001
Why share your decision to give to Heart & Stroke?
We are grateful for your generosity and commitment to Heart & Stroke’s mission and we would like the opportunity to thank you during your lifetime. We also understand that this is a personal decision and value your privacy. We will not share your personal information.
How can you make this kind of gift?
Donating a registered investment to Heart & Stroke is one of the easiest ways to create a legacy gift. Contact the plan administrator or your Financial Advisor and instruct them to name Heart & Stroke as beneficiary of the account.