| Protected B when completed | |||||||||||||||
| T1-2023 | Schedule 7 | ||||||||||||||
| RRSP, PRPP and SPP Contributions and Transfers and HBP and LLP Activities |
|||||||||||||||
| Complete parts A, B, C and D of this schedule if any of the following conditions apply to you: | |||||||||||||||
| • | You will not be deducting all of the unused registered retirement savings plan (RRSP), pooled registered pension plan (PRPP) or specified pension plan (SPP) contributions that you previously reported and are available to deduct on your 2023 return, as shown on your latest notice of assessment or reassessment, or Form T1028, Your RRSP Information for 2023 |
||||||||||||||
| • | You will not be deducting all of the RRSP, PRPP or SPP contributions you made from March 2, 2023, to February 29, 2024, on your 2023 return |
||||||||||||||
| • | You have transferred to your RRSP, PRPP or SPP certain amounts that you included in your income for 2023 | ||||||||||||||
| • | You are designating contributions made to your RRSP, PRPP or SPP as a 2023 repayment under the Home Buyers' Plan (HBP) or the Lifelong Learning Plan (LLP) |
||||||||||||||
| • | You want to claim the full amount of RRSP, PRPP or SPP contributions you made (including any unused RRSP, PRPP or SPP contributions) on line 20800 of your return and you reported employer PRPP contributions on line 20810 of your return |
||||||||||||||
| Complete Part E if you withdrew funds from your RRSP in 2023 under the HBP or the LLP. | |||||||||||||||
| Complete Part F if you will be the beneficiary of income that was contributed to an amateur athlete trust in 2023 and you want that income to be used to calculate your RRSP deduction limit. |
|||||||||||||||
| If none of the situations for parts A to F above apply to you, do not complete this schedule. Instead, enter your total contributions made to your RRSP, PRPP or SPP, or your spouse's or common-law partner's RRSP or SPP, for 2023 on line 20800 of your return. |
|||||||||||||||
| Attach a copy of this schedule to your paper return. Also attach your official receipts for all amounts that you contributed to an RRSP, PRPP or SPP from March 2, 2023, to February 29, 2024, including those you are not deducting on your 2023 return and those you are designating as HBP or LLP repayments. |
|||||||||||||||
| Generally, your SPP and PRPP contributions are subject to the same rules as RRSP contributions and should be included on this schedule. |
|||||||||||||||
| For more information, see Guide T4040, RRSPs and Other Registered Plans for Retirement. | |||||||||||||||
| 5000-S7 E (23) | (Ce formulaire est disponible en français.) | Page 1 of 4 | |||||||||||||
| Protected B when completed | |||||||||||||||
| Part A – RRSP, PRPP and SPP contributions | |||||||||||||||
| Complete this part to calculate your total contributions. | |||||||||||||||
| Enter, on lines 2 and 3 below, all contributions you made for the dates specified even if you are not designating or deducting them on your 2023 return. Otherwise, the Canada Revenue Agency may reduce or disallow your claim for these contributions on your return for a future year. |
|||||||||||||||
| Include on lines 2 and 3 amounts transferred to your RRSP, PRPP or SPP (also see line 24640 in Part C) and contributions you are designating as a repayment under the HBP or the LLP (Part B). |
|||||||||||||||
| Do not include any of the following amounts on lines 2 and 3: | |||||||||||||||
| • | unused RRSP, PRPP or SPP contributions you made after March 1, 2023, that were refunded to you or your spouse or common-law partner in 2023 |
||||||||||||||
| • | all or part of the contributions you made to your RRSP or an RRSP for your spouse or common-law partner less than 90 days before either of you withdrew funds from that RRSP under the HBP or the LLP. For more information, go to canada.ca/home-buyers-plan or canada.ca/lifelong-learning-plan. |
||||||||||||||
| • | your employer's contributions to your PRPP as reported on line 20810 of your return | ||||||||||||||
| • | any payment directly transferred to your RRSP, PRPP or SPP if you did not receive an information slip or if it is shown in box 35 of your T4RSP or T4RIF slips |
||||||||||||||
| • | the part of an RRSP withdrawal that you recontributed to your RRSP and deducted on line 23200 of your return. This would have happened if you withdrew more RRSP funds than necessary in error to get past service benefits under a registered pension plan (RPP) |
||||||||||||||
| • | the excess part of a direct transfer of a lump-sum payment from your RPP to an RRSP, a PRPP or a registered retirement income fund (RRIF) that you withdrew and are including on line 12900 or line 13000 and deducting on line 23200 of your 2023 return |
||||||||||||||
| • | contributions made from exempt earnings (see Form RC383, Tax-Exempt Earned Income and Contributions for a Pooled Registered Pension Plan) |
||||||||||||||
| Enter your unused RRSP contributions previously reported and available to deduct for 2023 as shown on your latest notice of assessment or reassessment, or Form T1028 for 2023 |
|||||||||||||||
| (unused RRSP contributions also include your unused PRPP and SPP contributions). | 1 | ||||||||||||||
| Enter contributions made to your RRSP, SPP or PRPP or to your spouse's or common-law partner's RRSP or SPP from March 2, 2023, |
|||||||||||||||
| to December 31, 2023 (attach all receipts). | 2 | ||||||||||||||
| Enter contributions made to your RRSP, SPP or PRPP or to your spouse's or common-law partner's RRSP or SPP from January 1, 2024, |
|||||||||||||||
| to February 29, 2024 (attach all receipts). | + | 3 | |||||||||||||
| Line 2 plus line 3 | 24500 | = | ► | + | 4 | ||||||||||
| Line 1 plus line 4 | |||||||||||||||
| Enter this amount on line 6 of the next page. | Total contributions | = | 5 | ||||||||||||
| 5000-S7 E (23) | Page 2 of 4 | ||||||||||||||