2019-2020 RRSP

2019-2020 RRSP

The RRSP contribution deadline for the 2019 tax year is March 2, 2020.

You can contribute 18% of your 2019 earned income, or $26,500, whichever is less, plus any unused contribution room from previous years.

For your exact contribution limit, check your latest Notice of Assessment, Notice of Reassessment or T1028 form, or log on to your Canada Revenue Agency account at http://www.cra-arc.gc.ca/myaccount.

You can also make your 2020 contribution any time starting January 1, 2020 to benefit from additional tax-deferred compounding.

The maximum RRSP contribution room you can earn for 2020 is $27,230.

Please call us to arrange your 2019/2020 RRSP contributions. You can also make a contribution by transferring funds to your RBC Dominion Securities RRSP account directly from any RBC Royal Bank account through DS Online.