Contributions to an RRSP

As a rule, if an individual makes contributions or transfers certain amounts to his or her spouse’s registered retirement savings plan (RRSP), and if the spouse withdraws amounts from the plan, the individual may be required to include, in his or her income for the year of the withdrawal, the amount withdrawn by the spouse. The maximum amount to be included in the individual’s income is the total of the contributions he or she made to the RRSP during the year of the withdrawal and the previous two years.

This measure does not apply if, at the time of the withdrawal, the persons concerned are living apart because of the breakdown of their relationship. This means that if, following a divorce or separation, your former spouse withdraws amounts from an RRSP of which he or she is the annuitant and to which you contributed, the amounts withdrawn must be included in his or her income.

Last Updated: 2012-01-04