You can withdraw any amount above the minimum at any time from your RRIF.
Important considerations:
- Withholding tax: Amounts above the minimum are subject to withholding tax at the time of withdrawal
- Taxable income: All withdrawals, including amounts above the minimum, are fully taxable as income
- Tax rates: The withholding tax rate depends on the amount withdrawn and your province of residence
- Year-end tax: You may owe additional tax or receive a refund when you file your annual tax return, depending on your total income and applicable tax brackets