LIRAs and locked-in RRSPs are a lot less flexible than RRSPs because they convert to LIFs and LRIFs and have limits on the amounts that can be withdrawn each year. A) True B) False Question 10 ( 1 point) Before the end of the year in which you have your 71 st birthday A) the assets inside your RRSP must be converted to cash and placed in a RRIF. B) you must start annual withdrawals of 18 percent of the value of your RRIF. C) you must transfer your RRSP assets to a RRIF. D) you must pay tax on the profits sheltered in your RRSP