A stupid mistake in RRSP

[sweedy]

Last year, I made the mistake of contributing to my wife's spousal RRSP account through her bank account instead of mine. Now she received the tax receipt which shows that she is the contributor. Does this mean I cannot claim the deduction in my tax return this year?

By the way, my wife did not have any income in the past and is not expected to have any income in the future.

[iluvmikeharris]

Last year, I made the mistake of contributing to my wife's spousal RRSP account through her bank account instead of mine. Now she received the tax receipt which shows that she is the contributor. Does this mean I cannot claim the deduction in my tax return this year?

By the way, my wife did not have any income in the past and is not expected to have any income in the future.

As long as you are listed as the contributing spouse on the spousal rsp account you are fine. The payment could come from the bank account of a pimp on Jarvis street and it wouldn't mattter.

[Thalo]

I'm assuming the RRSP is with a brokerage? With bank spousal RRSPs, such a mistake usually doesn't happen because spousal and personal are kept as separate accounts and not comingled. Call the brokerage and ask them if they can correct this and re-issue the contribution receipt. It's a common error. I know it happens a lot with TD Waterhouse due to people doing spousal contributions online (doesn't work, never has, always considers it a personal contribution).

[gorf]

Call the brokerage and ask them if they can correct this and re-issue the contribution receipt. It's a common error. I know it happens a lot with TD Waterhouse due to people doing spousal contributions online (doesn't work, never has, always considers it a personal contribution).

Yup, same thing happened to us with TD and another receipt was issued.

[TopTaxGuy]

If your wife's RRSP is coded as a spusal account there should be no problem with you claiming the credit. Even if it not coded as such it is generally OK if you are in fact married or common law and the account is in her name.

You can also call the institution that holds your accounts and ask them to make a correction if you'd prefer to have the funds in your account.

If you are in different ax brackets, spousal contributions are an effective way of splitting income (http://taxresource.ca/taxstrategies/incomesplitting_opportunities.html).