Unused contributions
If you did not deduct all of the contributions you made to your RRSP, PRPP, or SPP, or your spouse’s or common-law partner’s RRSP in 1991 and later years (or your spouse's or common-law partner's SPP in 2010 and later years), you have two options:
- you can leave the unused contributions in the plan
- you can withdraw them
Note
In either case, you may have to pay a 1% per month tax on the part of your unused contributions that are excess contributions. For more information, refer to Excess contributions.
If you withdraw the unused contributions, you have to include them as income on your income tax and benefit return. However, you may be able to deduct an amount equal to the withdrawn contributions that you include in your income.
For more information, refer to Withdrawing the unused contributions.