Donating retirement fund assets to FMCIC Churches, Camps, Ministries and Partners is a tax-smart and effective way to transform your assets into meaningful support and lasting impact in your communities in Canada and beyond. Retirement funds are one of the best ways to safe for your future during your lifetime but one of the worst ways to give to the next generation, as they are among the most heavily taxed assets!
The Benefits of Giving RRSPS, RRIFs, or TFSAs
- The satisfaction and joy of providing a future gift while retaining ownership and use of the fund during your lifetime.
- A charitable tax receipt for the value of the plan for your estate, which will offset estate taxes.
- By designating a beneficiary, these assets fall outside your estate, excluding them from probate fees.
- You can donate all or a portion of your retirement funds, while still provide for your family by naming more than one beneficiary.
- Alternatively, you can name a charity as a secondary beneficiary after your spouse.
How to Donate RRSPS, RRIFs, or TFSAs
Giving RRSPS, RRIFs, or TFSAs is one of the easiest gifts with no cost to you now, in 3 simple steps:
- Request a Multiple Designation Form for you RRSP / RRIF / TFSA fro your plan’s financial advisor or bank.
- Fill out the form and name The Free Methodist Church in Canada, your local church, camp, ministry, or partner as one of the beneficiaries.
- Return the form to your plan administrator & please let us know if possible.
Useful Legal Information
LEGAL NAME: THE FREE METHODIST CHURCH IN CANADA
ADDRESS: NATIONAL MINISTRY CENTRE
5 INTERNATIONAL BLVD., ETOBICOKE, ON M9W 6H3
CRA CHARITY #: 107406316 RR 0011
For more information, please email support@fmcic.ca or call 905.848.2600
FMCIC’s policies do not allow FMCIC or its employees to serve as personal representatives, executors, trustees, or witnesses or a Will or Trust that includes a gift to one of our FMC churches, camps, ministries and/or partners.
FMCIC strongly recommends you seek the professional services of a lawyer, accountant, or financial advisor to ensure that your financial goals are considered, your tax situation reviewed, and your planned gift tailored to best fit your circumstances.
