RRSP contribution deadline
Updated October 12, 2026
The short answer
You can contribute to an RRSP for a tax year during that year and during the first 60 days of the next year. For the 2026 tax year, the deadline is March 1, 2027. Contributions made in that window can be deducted on the 2026 return.
| Contribution deadline | 60 days after the end of the tax year (March 1, or February 29 in a leap year) |
|---|---|
| Deduction limit | 18% of the previous year's earned income, up to the annual maximum, plus unused room |
| Over-contribution buffer | $2,000 lifetime, with no penalty |
| Penalty above the buffer | 1% per month on the excess |
Where a client finds their limit
The deduction limit appears on the client's most recent notice of assessment and in their CRA My Account. Unused room carries forward indefinitely, so a client who skipped years may have far more room than the 18% figure suggests.
Which year does the contribution count for?
A contribution made in the first 60 days of the year can be claimed on the previous year's return or saved to claim later. Clients often benefit from claiming it in a higher-income year, so it's worth confirming rather than defaulting to the earliest year.
Over-contribution
A client can exceed their limit by up to $2,000 over their lifetime without penalty. Beyond that, the excess is taxed at 1% a month until it is withdrawn or room opens up, and a T1-OVP return may be required. Catch it early: the penalty is monthly.
This guide summarizes federal rules published by the Canada Revenue Agency. Your situation may differ (a fiscal year that doesn't end December 31, a non-resident, a province with its own return), so confirm at canada.ca or with your accountant before relying on a date.
Frequently asked questions
What is the RRSP deadline for the 2026 tax year?+
March 1, 2027, which is 60 days after the end of 2026.
Is there a penalty for contributing slightly over the limit?+
There is a $2,000 lifetime buffer with no penalty. Above that, the excess is taxed at 1% per month.
Let Clerra track these for every client.
Add a client once and their full CRA and provincial calendar is built automatically. Weekends and holidays are handled.
Start free for 14 days