Inclusion of RRIF contributions

This reporting error occurs where issuers include, in their RRSP information return, records for contributions to a registered retirement income fund (RRIF). As a result, RRSP contributions that were not made are being posted to the account of individuals.

Before submitting your RRSP contribution information return, you should do the following:

• Verify the specimen plan indicated in the return. If the number is for a RRIF, review the individual contribution records to make sure they relate to an RRSP
• Determine if the return includes records for individuals who are older than 71 years of age. If the return does, make sure these records are only for spousal contributions made in the contribution year

Forms and publications

• Income Tax Folio S2-F1-C2, Retiring Allowances 
• Interpretation Bulletin IT-528, Transfers of Funds Between Registered Plans