FAQ – Personal financial products and services – Member dividends

Lower RRIF minimum withdrawals

If you want to know more about the government’s announcement to lower RRIF minimum withdrawals, speak to your caisse advisor or go to the Government of Canada website - External link. This link will open in a new window..

Over the last few years, most of the caisses paid out member dividends.

The money paid out in member dividends comes from caisse surplus earnings over a given fiscal year. This means that is a caisse does not have surplus earnings, it will be unable to pay out member dividends.

For more information, contact an advisor at your caisse.

Contact an advisor at a caisse.

Whether member dividends are taxable or not depends on the product or service they apply to.

Loans and service charges
Member dividends are not taxable and no tax form is issued, unless the interest on the loans or service charges was considered a deductible expense.

Desjardins Funds and Northwest Funds
If you receive member dividends in excess of $100, you'll be issued a T4A/Relevé 1 form and be subject to federal withholding tax of 15% on the excess amount. These dividends are taxable regardless of the amount and whether or not a tax form was issued.

Savings on caisse accounts (excluding funds held at Desjardins Trust)
When annual interest income, including member dividends, exceeds $50, the caisse reports the earnings on a T5/Relevé 3 form. These dividends are taxable regardless of the amount and whether or not a tax form was issued.

For more information, please call 1-800-CAISSES (1-800-224-7737).

Find out more about member dividends.

Yes. At your caisse's general meeting, all members are invited to vote on how much of the surplus earnings will be distributed as member dividends.

We changed the way they're calculated to make them easier to understand. Dividends used to be calculated mainly based on interest paid or received. Now that they're based on balances and premiums, they're more transparent because you have access to this information.

We want to give all products in a product line the same weight and thereby treat all members equally, no matter what product they choose to meet their needs.

Each caisse is responsible for paying its members dividends. Our goal is for you to get a single payment from each caisse you do business with. But due to certain regulations, we're required to deposit each dividend directly into the account linked to the product (such as an RRSP). To find out your total dividend amount, you'll have to wait until all dividends are paid out.

Yes. If you don't receive your dividend, contact your former caisse to see if any amounts are owed to you.

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