Segregated fund trust

An inter vivos trust called a "segregated fund trust" is deemed to be created with respect to a segregated fund of an insurer, generally at the time the fund is established. The property of the segregated fund and the income derived therefrom are considered to be the property and income of the trust. The insurer is considered to be the trustee of the segregated fund trust.

You must file a trust income tax return (TP-646-V) and financial statements for each segregated fund.

Issuing or effecting all of the policies

If all of the segregated fund policies of such a trust were issued or effected as a registered plan (RRSP, RRIF or RPP), complete only section 1, "General information," and sign the return.

Issuing or effecting a portion of the policies

If only a portion of the policies were so issued or effected, you must take into account in your return and schedules only the portion of the trust's income (and, where applicable, the trust's capital gain or loss) that is to be allocated to beneficiaries other than policyholders under the registered plan. RL-16 slips must be filed for these beneficiaries.

For further information, refer to the Guide to Filing the Trust Income Tax Return (TP-646.G-V).