RRSP Contribution Deadline: What You Need to Know

Dec 2, 2025

March 2, 2026, is the last day you can make a tax-deductible contribution to your RRSP for the 2025 tax year. But not everyone needs to rush to meet this deadline.

Written by Siddhi Bagwe

Editor & Content Strategist

Edited by Beth Buczynski

Head of Content, New Markets

Written by Siddhi Bagwe

Editor & Content Strategist

+ 1 more

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March 2, 2026, is the RRSP contribution deadline for the 2025 tax year. You can apply RRSP contributions you've made by this deadline to your 2025 tax return.

But do you need to scramble to make a big contribution by this deadline? The answer depends on a few factors, such as your total income, tax bracket and remaining contribution room.

Why the RRSP contribution deadline matters

The contributions you make towards your registered retirement savings plan, or RRSP, can be deducted from your taxable income, which helps reduce your tax burden.

💡 Key benefits of meeting the RRSP contribution deadline include:

Income tax deduction and potential refunds. RRSP contributions made before March 2, 2026, are tax-deductible. They can reduce your taxable income and may even lead to a tax refund.
Tax-free savings growth. Money in your RRSP can grow and earn compound interest on a tax-free basis.

When you withdraw money from your RRSP (ideally in retirement), the amount you withdraw is taxable income. The benefit is that you’ll likely be in a lower tax bracket at that time, so the taxes you pay on the RRSP withdrawals will usually be lower.

There are some exceptions. For example, the Home Buyers’ Plan and Lifelong Learning plan allow you to borrow money tax-free from your RRSP for specific uses. Both programs have strict rules, so it’s important to read the fine print.

What contributions count towards the 2025 RRSP contribution deadline?

The tax year for 2025 income and tax deductions lines up with the calendar year — January 1 to December 31. But the tax year for purposes of an RRSP contribution follows a different schedule. The deadline for 2025 RRSP contributions includes contributions made during the following terms:

First contribution period: March 4 to December 31, 2025.
Second contribution period: January 1 to March 2, 2026.

How to prepare for the RRSP deadline

You must claim the RRSP contributions you made during the first contribution period of 2025, as well as those (if any) made during the first 60 days of 2026, on your 2025 income tax return.

Your financial institution(s) will send you two separate receipts for these terms. So, if you make an RRSP contribution between January 1 and March 2, 2026, wait to file your taxes until you receive the second tax slip.

🤓Nerdy Tip

You must record RRSP contributions made during the first 60 days of 2026 on your 2025 tax return, but you don’t have to apply them as a tax deduction on this return. Instead, you can elect to carry the amount forward to your 2026 tax return — or another future year.

What happens if you miss the RRSP contribution deadline?

If you miss the RRSP deadline or choose not to apply your RRSP contributions as deductions for your 2025 tax return, that amount appears as “unused RRSP contributions” on your notice of assessment. In fact, the carry-forward option applies to all RRSP contributions, regardless of when they are made.

However, be sure to declare these contributions on your tax return in the year you make them. You can apply that amount as a tax deduction in any future tax year. This strategy is ideal if you anticipate being in a higher tax bracket in the future and want to lower your taxable income.

Should you make contributions before the RRSP deadline?

Generally speaking, the higher the tax bracket you’re in, the more sense it makes to put money into an RRSP. The prevailing view is that you’ll likely be in a higher tax bracket during your working years than in retirement. Contributing during these years allows you to benefit from tax deductions that reduce your taxable income.

With the calendar year behind you, the RRSP contribution deadline provides an opportunity to review your total taxable income for 2025, assess your tax bracket, and decide whether making an additional contribution could lower your taxable income. You can also use online tax software to test different contribution amounts before making your decision.

Before you make a one-time or additional contribution, make sure to check your unused contribution room for 2025. You can find this information on your notice of assessment or your CRA My Account. This will help you avoid exceeding your RRSP contribution limit and incurring any tax penalties.

RRSP contribution calculator

Find your RRSP contribution limit amount to date.

How much does RRSP contribution reduce tax?

It depends on your combined provincial and federal tax brackets. For example, suppose your taxable income for 2025 is $70,000, and your tax rate is 30%. If you contribute $10,000 (assuming you have sufficient contribution room) toward your RRSP, you would lower your taxable income to $60,000. This approach would save you $3,000 (30% of $10,000) in tax.

Should you contribute to RRSP if you have a low income?

If you’re in a lower tax bracket, the benefit of deducting your RRSP contributions from your taxable income might be minimal. In such cases, contributing to a tax-free savings account (TFSA) may make more sense. Although you won’t get a tax deduction for TFSA contributions, you also won’t pay taxes on any growth or withdrawals. As your financial situation changes, you can use your TFSA funds to invest for the future.

Take action early to avoid the RRSP deadline scramble

Taking advantage of the opportunity to evaluate your financial picture and decide how much to contribute before the RRSP deadline may be worthwhile if you have less predictable income, such as if you are self-employed.

However, if your income is predictable, you receive a regular paycheque, and your financial circumstances favour your future savings plans, you can avoid scrambling to meet the deadline. Instead, consider setting up automatic RRSP contributions throughout the year.

This approach simplifies budgeting, allows you to benefit from investment strategies like dollar cost averaging and an employer matching program for your contributions.