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RRSP Deadline 2026: March 2 - Last Minute Contribution Guide

Don't miss the 2026 RRSP contribution deadline. Here's what you need to know and how to maximize your tax deduction.

November 19, 20255 min read

2026 RRSP Contribution Deadline

March 2, 2026

7 days remaining to make RRSP contributions for the 2025 tax year.

Every year, Canadians scramble in late February and early March to make last-minute RRSP contributions. I've been there. Don't let tax season stress catch you off guard. Here's everything you need to know about the 2026 RRSP deadline.

The Important Dates

  • Contribution Deadline: March 2, 2026 (60 days after Dec 31, 2025)
  • What It Means: Contributions made between Jan 1, 2025 and March 2, 2026 can be deducted on your 2025 tax return
  • Tax Filing Deadline: April 30, 2026 (for most Canadians)

How Much Can You Contribute?

Your RRSP contribution room is:

  • 18% of your 2025 income (up to $33,810 max)
  • PLUS any unused room from previous years
  • MINUS any pension adjustments

Check your exact room on your 2024 Notice of Assessment or in CRA My Account

Last-Minute Contribution Strategies

1. Don't Panic-Contribute

Just because the deadline exists doesn't mean you HAVE to contribute. Only contribute if:

  • You have the cash available (don't go into debt for an RRSP contribution)
  • You're in a tax bracket where the deduction matters (25%+)
  • You have contribution room left

2. Prioritize If You Have Limited Funds

If you can't max out your RRSP, contribute strategically:

  • High earners ($90k+): RRSP wins - tax deduction is valuable
  • Lower income ($55k or less): Consider TFSA instead - more flexibility
  • Variable income (freelancers): Contribute in high-income years only

3. The Tax Refund Trick

Here's a strategy I use: estimate your tax refund from your RRSP contribution, then immediately reinvest that refund back into your RRSP (or TFSA). Compounds your savings.

Example:

  • Income: $80,000 (tax rate ~32%)
  • RRSP contribution: $10,000
  • Tax savings: $10,000 × 0.32 = $3,200
  • Action: Reinvest that $3,200 into RRSP or TFSA

Common Mistakes to Avoid

  • Over-contributing: You'll pay 1% penalty per month on excess. Check your room first.
  • Borrowing to contribute: Only makes sense if your investment returns beat the loan interest. Usually doesn't.
  • Forgetting spousal RRSPs: If your partner earns less, contribute to their RRSP for income splitting in retirement.

How to Make a Last-Minute Contribution

  1. Check your contribution room: Log into CRA My Account or check your Notice of Assessment
  2. Calculate your tax savings: Contribution amount × your marginal tax rate
  3. Contribute online or in-branch: Most banks allow same-day RRSP contributions
  4. Get your receipt: You'll need it for your tax return (arrives by end of February)
  5. File your taxes: Claim the deduction on Line 20800 of your return

What If You Miss the Deadline?

Not the end of the world. Your contribution just counts toward the 2026 tax year instead of 2025. You can:

  • Claim the deduction on your 2026 tax return
  • OR carry it forward to a future year when your income (and tax rate) is higher

The Bottom Line

The March 2, 2026 RRSP deadline is important, but don't let FOMO drive bad financial decisions. Contribute if it makes sense for YOUR situation - not just because the deadline is looming.

And next year? Budget for your RRSP contributions throughout the year instead of scrambling in March. Trust me, it's less stressful.

Budget Your RRSP Contributions

Waypoint Budget helps you track RRSP contribution goals throughout the year. Set aside money monthly instead of scrambling at deadline.