An RRSP contribution receipt is the tax slip your financial institution issues after you deposit money into a Registered Retirement Savings Plan, and you need it to claim the deduction on line 20800 of your T1 return. For the 2025 tax year, contributions must be made by March 2, 2026, and the annual limit is the lesser of $32,490 or 18% of your prior-year earned income.1Canada.ca. Important Dates for RRSPs, HBP, LLP, FHSAs and More2Canada.ca. How Contributions Affect Your RRSP Deduction Limit Keep the receipt for six years, because the Canada Revenue Agency can ask for it during that window even after an electronic filing.
What the Receipt Shows
Every RRSP contribution receipt carries the contributor’s first and last name, their nine-digit Social Insurance Number, the issuing institution, the dollar amount deposited, and which contribution period the deposit falls into. If the money went into a spousal or common-law partner’s plan, the slip also lists the annuitant’s name and SIN separately from the contributor’s.3Canada Revenue Agency. RRSP Contribution Receipt – Slip Information for Individuals
Financial institutions split the year into two contribution periods, and you may receive a separate receipt for each:
- The last ten months of the tax year, ordinarily March 2 to December 31.
- The first 60 days of the following year, ordinarily January 1 to March 1.
Contributions made during that second window can be deducted on the previous year’s return, on the current year’s return, or carried forward. That flexibility is why the CRA requires two distinct receipts rather than one combined slip.3Canada Revenue Agency. RRSP Contribution Receipt – Slip Information for Individuals
Spousal Receipts
When you contribute to your spouse’s or common-law partner’s RRSP, the receipt is issued in your name because you are the contributor claiming the deduction. It also identifies your spouse as the annuitant. You report the contribution and claim the deduction on your own return, not theirs.3Canada Revenue Agency. RRSP Contribution Receipt – Slip Information for Individuals
Your combined contributions to your own RRSP and your spouse’s cannot exceed your personal deduction limit. If your limit is $20,000 and you put $12,000 into your own plan and $10,000 into your spouse’s, you have over-contributed by $2,000. The CRA treats both accounts as drawing from the same pool of room.4Canada Revenue Agency. Contributing to Your Spouse’s or Common-Law Partner’s RRSPs
When and How Your Receipts Arrive
Receipts for the March-to-December period typically arrive in late January or early February. Receipts for the first-60-days period follow separately, usually in March or April. Most institutions make both available as downloadable PDFs in their online banking portals, and those digital copies carry the same weight as paper for tax purposes.
If you file a paper return, attach all RRSP contribution receipts covering March of the prior year through March 2 of the current year. If you file electronically, do not send the receipts to the CRA, but hold on to them in case the agency asks later.5Canada Revenue Agency. Line 20800 – RRSP Deduction
Confirming Your Deduction Limit Before You Claim
Check how much room you actually have before filling anything out. Your RRSP deduction limit appears on the RRSP Deduction Limit Statement printed on your most recent Notice of Assessment, and in CRA My Account.6Canada.ca. Where Can You Find Your RRSP Deduction Limit The limit is 18% of your previous year’s earned income (up to the annual dollar cap) plus any unused room carried forward, minus any pension adjustments. Contributions you made to a spousal plan already reduced your own room.
Using the Receipt on Your Return
Report your total contributions on Schedule 7, “RRSP, PRPP, and SPP Contributions and Transfers, and HBP and LLP Activities.”7Canada Revenue Agency. 5000-S7 Schedule 7 – RRSP, PRPP, and SPP Contributions and Transfers Schedule 7 asks how much you contributed, how much you want to deduct this year, and whether any amount is a Home Buyers’ Plan or Lifelong Learning Plan repayment. The deduction figure you calculate flows onto line 20800 of your T1, reducing your taxable income.5Canada Revenue Agency. Line 20800 – RRSP Deduction
You are not required to deduct everything you contributed in the same year. If you expect to be in a higher tax bracket later, report the contribution on Schedule 7 now and carry the deduction forward. Unused contributions sit in your account with no expiration, and you can claim them on any future return when the tax saving is larger.8Canada.ca. What to Do With Unused RRSP, PRPP or SPP Contributions
Already filed and forgot to report a contribution? Send a completed Schedule 7 along with Form T1-ADJ (T1 Adjustment Request) and a copy of the receipt to your tax centre.8Canada.ca. What to Do With Unused RRSP, PRPP or SPP Contributions
One boundary to keep in mind: contributions above your limit by more than the $2,000 lifetime buffer are taxed at 1% per month until you withdraw the excess or gain new room.9Canada Revenue Agency. Excess Contributions A receipt showing a valid deposit does not by itself mean the amount is deductible.
If a Receipt Is Missing or Wrong
Contact your financial institution first. Banks and investment firms can usually reissue a receipt within a few business days. If the slip shows the wrong contribution amount or an incorrect SIN, ask for a corrected version before you file. Claiming a deduction based on a flawed receipt invites a later reassessment.
You can also cross-check through CRA My Account, where institutions report contribution data electronically. If the figure in My Account matches your bank statement but the paper receipt has not arrived, you have enough information to file accurately while you wait for the replacement. Report the correct contribution amount on Schedule 7 either way; a missing slip is not a reason to underreport.3Canada Revenue Agency. RRSP Contribution Receipt – Slip Information for Individuals
How Long to Keep the Receipt
Keep every RRSP contribution receipt for at least six years, whether you filed on paper or electronically.10Canada.ca. How Long Should You Keep Your Income Tax Records The CRA can request supporting documents at any point in that window to verify your deduction. If you filed late, the six-year clock runs from the date you actually filed, not the original due date.11Canada.ca. Where to Keep Your Records, For How Long and How to Request the Permission to Destroy Them Early
Keep more than the receipt itself. Bank statements, online transaction confirmations, and cancelled cheques all support the claim if the CRA ever reviews it.