February 29, 2012, is the deadline to make your RRSP contribution for 2011

Did you know?

Registered retirement savings plans (RRSPs) are one of the most popular investment vehicles for Canadians. According to Statistics Canada, 6 out of 10 Canadian families held RRSPs in 2005.

Important facts

  • February 29, 2012, is the last day you can contribute to an RRSP for the 2011 tax year.
  • The amount you can contribute to your RRSPs each year without tax implications is determined by your RRSP deduction limit, or “contribution room,” which can be found on your 2010 Notice of Assessment.
  • The most recent information about your RRSP deduction limit is available through My Account at
  • If you are not registered to use My Account, you can get your RRSP deduction limit using the Quick Access service at
  • There are new rules that affect RRSP or RRIF non-qualified or prohibited investments and the income or capital gains those investments may generate. Those rules apply as of March 23, 2011.  
  • December 31 of the year you turn 71 is the last day that you can contribute to your RRSPs. For more information, see RRSP options when you turn 71.
  • Be very cautious of offers that allow you to make tax-free withdrawals of RRSP funds. Offers that sound too good to be true usually are. To protect yourself, read about RRSP tax-free withdrawal schemes.


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