What to do with unused RRSP, PRPP or SPP contributions

What to do with contributions you do not deduct

If you are not deducting all the RRSP, PRPP or SPP contributions you made in 2018 and the beginning of 2019, fill out Schedule 7, RRSP and PRPP Unused Contributions, Transfers, and HBP or LLP Activities. This includes contributions made to your:

  • registered retirement savings plan (RRSP)
  • pooled registered pension plan (PRPP)
  • specified pension plan (SPP)
  • spouse’s or common-law partner’s RRSP or SPP

Fill out schedule 7 for contributions made from March 2, 2018 to March 1, 2019. Attach Schedule 7 to your 2018 tax return.

If you have already filed your tax return, fill out Schedule 7 and send it to your tax centre. Include with your contribution receipts a note showing your name and social insurance number.

If you did not deduct all of the contributions you made to your RRSP/PRPP/SPP or your spouse's or common-law partner's RRSP/SPP, you have two options:

  • You can leave the unused contributions in the plan
  • You can withdraw the unused contributions

In either case, if you contribute over your RRSP deduction limit, you may have to pay tax on the unused contributions that exceed your RRSP deduction limit.

If you withdraw the unused contributions, you have to include them as income on your tax return. However, you may be able to deduct an amount equal to the withdrawn contributions. For more information, see withdrawing unused contributions.

Calculate your unused RRSP, PRPP or SPP contributions

Your unused RRSP, PRPP or SPP contributions are equal to:

  • RRSP deduction limit for the previous year

    minus

  • allowable RRSP, PRPP or SPP contributions deducted in previous year

Unused contributions are carried forward to the next year, so if you do not deduct all of your RRSP, PRPP or SPP contributions, or withdraw them, they are added to your following years of RRSP deduction limit.

You can find the amount of your unused RRSP, PRPP or SPP contributions from previous years by going to one of the following:

Image of RRSP Deduction Limit Statement
The “Minus: Unused RRSP/PRPP contributions previously reported and available to deduct for 2016 (amount B)” text and the dollar amount are circled on the RRSP/PRPP deduction limit statement section of a Notice of Assessment.
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