RRSP deadline: March 2, 2026
5 steps to contribute before the deadline and reduce your 2025 taxes
February 2026
8 min read
This deadline has passed (March 2, 2026)
The RRSP contribution deadline for the 2025 tax year was March 2, 2026. The information below is kept for reference. See the fiscal calendar for upcoming deadlines.
The deadline to contribute to your RRSP and deduct that contribution on your 2025 tax return is March 2, 2026. Every dollar you contribute reduces your taxable income, which means you pay less in taxes — or get a bigger refund.
Checklist: 5 steps before March 2
Check your RRSP contribution room on CRA My Account
Decide how much to contribute (max 18% of your 2025 income, up to $31,560)
Open an RRSP if you don't have one (Wealthsimple, Questrade, or your bank)
Make the contribution before March 2, 2026
Keep the contribution receipt — you'll need it for your April tax return
Why does this date matter?
When you contribute to your RRSP, that money is deducted from your taxable income. That means if you earned $60,000 in 2025 and contribute $5,000 to your RRSP, you only pay taxes on $55,000. The difference could mean a refund of $1,000 to $2,500 depending on your tax bracket. If you're not sure which registered account suits you best, check out our comparison of TFSA, RRSP, and FHSA for newcomers.
But here's the catch: the contribution must be made before March 2, 2026 for it to count on your 2025 tax return. If you contribute on March 4, you can only deduct it on your 2026 return.
How much can I contribute?
Your RRSP contribution limit is 18% of your earned income in 2025, up to a maximum of $31,560. But unused room from previous years carries forward. You can check your exact contribution room on CRA My Account or your most recent Notice of Assessment.
Example for newcomers: If you arrived in Canada in 2024 and earned $50,000 that year, your contribution room for the 2024 tax year would be $9,000. If you didn't contribute anything, that room carries forward and adds to the room generated in 2025.
Where to open an RRSP?
You can open an RRSP at any Canadian bank or investment platform. Popular options for newcomers:
- Wealthsimple - no trading commissions, free RRSP, simple interface
- Questrade - free ETF purchases, wide investment selection
- Your bank (TD, RBC, Scotiabank, etc.) - convenient if you already have an account, but fees are higher
- EQ Bank - savings RRSP with a good interest rate, ideal if you don't want to invest
- FHSA - if you're saving to buy your first home in Canada, the FHSA combines benefits of the RRSP and TFSA. Learn more in our first mortgage and FHSA guide
Do you live in Quebec?
Your RRSP contribution also reduces your Quebec provincial taxes. But remember: in Quebec you file taxes twice (federal + provincial). Read our tax guide for Latinos in Quebec to know exactly which forms you need.
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Frequently asked questions about the RRSP
What is the deadline to contribute to an RRSP in 2026?
March 2, 2026 is the deadline to contribute to your RRSP so that the contribution counts as a deduction on your 2025 tax return.
How much can I contribute to my RRSP?
Your limit is 18% of your earned income in 2025, up to a maximum of $31,560. You can check your exact contribution room on CRA My Account.
What happens if I over-contribute to my RRSP?
The CRA allows a $2,000 excess without penalty. Beyond that, you pay a 1% monthly tax on the excess until you withdraw it.
Can I open an RRSP if I'm a temporary resident?
Yes, if you have a valid SIN and earn taxable income in Canada. Your contribution room accumulates from the first year you file Canadian taxes.
RRSP or TFSA — which should I use first as a newcomer?
If you earn less than $55,000/year, it generally makes sense to max out your TFSA first. If you earn more than $55,000 or your employer offers RRSP matching, prioritize the RRSP.
Official sources
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