The RRSP deadline for the 2026 tax year is Monday, March 1, 2027. Contributions made by that date can be deducted on your 2026 tax return, which you file by April 30, 2027. The 2026 RRSP dollar limit is $33,810, and it rises to $35,390 for 2027. Here is how much you can contribute, how to find your room, and how to make the most of the deadline.
Key RRSP dates and limits
| Item | 2026 tax year |
|---|---|
| Contribution deadline | March 1, 2027 |
| Tax filing deadline | April 30, 2027 |
| RRSP dollar limit | $33,810 (18% of 2025 earned income, up to this amount) |
| Next year’s limit | $35,390 for 2027 |
| Over-contribution buffer | $2,000 lifetime |
| Penalty on excess | 1% a month on amounts over the buffer |
How much can you contribute?
Your RRSP room for 2026 is 18% of your 2025 earned income, up to $33,810, minus any pension adjustment from a workplace plan, plus any unused room carried forward from past years. The exact number is on your latest Notice of Assessment from the CRA and in CRA My Account. Do not guess: over-contributing more than $2,000 costs 1% a month until you fix it.
Why contribute before the deadline
- Tax refund now. Your contribution reduces your taxable income at your marginal rate. Someone in a 30% bracket who contributes $10,000 saves about $3,000 in tax. Estimate yours with our RRSP tax refund calculator.
- Tax-free growth. Investments grow without yearly tax until you withdraw.
- Room carries forward. If you cannot contribute this year, the room is not lost; you can catch up later.
Contributions made in January and February
Money you put in between January 1 and March 1, 2027 can be deducted on either your 2026 or 2027 return. You must report it on your 2026 return, but you can choose to carry the deduction forward if you expect to be in a higher bracket next year.
RRSP or TFSA first?
If your income is high now and likely to be lower in retirement, the RRSP usually wins. If your income is modest, a TFSA may be better because withdrawals are tax-free and do not affect government benefits. Compare them in TFSA vs RRSP. First-time home buyers should also look at the FHSA in FHSA vs RRSP.
Last-minute tips
- Check your room in CRA My Account before contributing.
- Do not wait until the last day; transfers can take a few business days to settle.
- You can contribute cash now and choose investments later, but do not leave it in cash for years.
- Consider a spousal RRSP if your partner earns much less, to split income in retirement.
- Use your refund wisely: put it into your TFSA or toward debt.
- Live prices and sentiment on every ticker page
- Weekly email with your watchlist movers
- Price alerts on the stocks and coins you follow
Frequently asked questions
What is the RRSP deadline in 2027?
March 1, 2027, for contributions you want to deduct on your 2026 tax return.
What is the RRSP limit for 2026?
$33,810, or 18% of your 2025 earned income if less, adjusted for pension contributions and unused room.
Can I contribute to my RRSP after age 71?
No. You must convert your RRSP to a RRIF or annuity by the end of the year you turn 71, though you can still contribute to a spousal RRSP if your spouse is younger.
This article is general information, not financial advice.
Leave a Reply