Line 20800 – RRSP deduction
Note: Line 20800 was line 208 before tax year 2019.
A registered retirement savings plan (RRSP) is a retirement savings plan that you establish, that we register, and to which you or your spouse or common-law partner contribute.
A pooled registered pension plan (PRPP) is a retirement savings option for individuals, including self-employed individuals who do not have access to a workplace pension plan or where a workplace pension plan does not exist. For more information on PRPPs, go to Pooled Registered Pension Plan (PRPP) – information for individuals.
Deductible RRSP and PRPP contributions can be used to reduce your tax. Generally, any income you earn in the RRSP or PRPP is exempt from tax as long as the funds remain in the plan, however, you usually have to pay tax when you receive payments from these plans. For more information, see Where can you find your RRSP deduction limit?
March 1, 2021, is the deadline for contributing to your RRSP for amounts you want to deduct on your 2020 Income Tax and Benefit Return.
For more information, see Questions and answers about Line 20800 – RRSP deduction.
Filling out your Income Tax and Benefit Return
On line 20800, enter your RRSP or PRPP deduction claim. Attach Schedule 7 if you are required to fill it out.
Attach receipts for all amounts that you contributed from March 3, 2020, to March 1, 2021, to your paper Income Tax and Benefit Return, including those you are not deducting on your Income Tax and Benefit Return for 2020 and those you are designating as Home Buyers' Plan or Lifelong Learning Plan repayments.
Filling out your Schedule 7, RRSP, PRPP and SPP Unused Contributions, Transfers, and HBP or LLP Activities
Follow the guidelines at the top of Schedule 7 to find out if you have to fill it out.
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