Questions and answers about Line 12900 – Registered retirement savings plan (RRSP) income

I took money out of my RRSP to pay last year's taxes. Now I have a T4RSP slip with an amount in box 22 and tax deducted in box 30. Where do they go?

I am 67 years old and I have been taking money out of my RRSP, and the T4RSP shows an amount in box 22. How do I report this amount?

I am 63 years old and getting an annuity from my RRSP because I don't want to work any longer. My husband is still working. Where do I claim the amount in box 16 of the T4RSP slip?

I forgot to put money into my RRSP to pay back the Home Buyers' Plan (HBP). When should I have done that? What do I do now?

My spouse passed away and left me their RRSP. I put it into my RRSP. Now I've received a T4RSP that shows $50,000 in box 18. I thought I didn't have to pay taxes.

I took money out of my RRSP to pay last year's taxes. Now I have a T4RSP slip with an amount in box 22 and tax deducted in box 30. Where do they go?

Enter the amount from box 22 on line 12900 and the amount from box 30 on line 43700 of your income tax and benefit return.

When you withdraw any amount from your RRSPs, you must report it as income on your income tax and benefit return for the year. The financial institution will send you a T4RSP slip to show the amount you withdrew and the income tax they withheld.

I am 67 years old and I have been taking money out of my RRSP, and the T4RSP slip shows an amount in box 22. How do I report this amount?

Enter the amount from box 22 of the T4RSP slip on line 12900 of your income tax and benefit return. Enter the amount from box 30 of the T4RSP slip on line 43700.

I am 63 years old and getting an annuity from my RRSP because I don't want to work any longer. My husband is still working. Where do I claim the amount in box 16 of the T4RSP slip?

Enter the amount from box 16 of the T4RSP slip on line 12900 of your income tax and benefit return.

I forgot to put money into my RRSP to pay back the HBP. When should I have done that? What do I do now?

You must contribute to your RRSP during the tax year, or during the first 60 days of the next year, for your RRSP contribution to be eligible as a repayment under the HBP.

If you fail to make these payments to your RRSP for the HBP, the minimum amount you have to repay, as shown on your HBP Statement of Account, must be included as income on line 12900 of your income tax and benefit return for the year.

The HBP repayment guidelines require a minimum repayment amount each year beginning the second year following the year of withdrawal. You are not able to skip a year and double up next year.

My spouse passed away and left me their RRSP. I put it into my RRSP. Now I've received a T4RSP slip that shows $50,000 in box 18. I thought I didn't have to pay taxes.

Payments from an unmatured RRSP to a surviving spouse, who is named as beneficiary in the RRSP contract, may be transferred to the surviving spouse's RRSP before December 31 of the year after the year of death. If you do this, you will not have to pay tax on the transferred amount. The financial institution should give you a receipt for the amount that was transferred.

Enter the amount transferred on line 2 or 3 of Schedule 7 and do the necessary calculations. Also enter the amount on line 24640 of Schedule 7. Attach the schedule and your receipt to your income tax and benefit return. Enter the RRSP amount on line 12900 of your income tax and benefit return and claim a deduction for the same amount on line 20800.