RRSP contribution 2020 or 2021 - Interactive Brokers

  • Last Updated:
  • Apr 11th, 2021 9:50 am
Jul 3, 2009
324 posts

RRSP contribution 2020 or 2021 - Interactive Brokers

I transfered some funds to my RRSP account at Interactive Brokers around Feb 12, and I chose contribution year of 2020. Now when I am ready to file tax, and I notice IB list my contribution under 2021 tax year, with date of March 1 2021, but lists the amount in "During the first 60 days". When I check CRA website, they didn't receive this form either for 2020.

In the past when I contribute to Questrade before end of Feb, it would always show up under previous year. I am wondering if this a reporting issue with IB, do I need to contact them to have it adjusted or am I ok just file that contribution to CRA as 2020 contribution
5 replies
Deal Expert
User avatar
Dec 12, 2009
24223 posts
First 60 day contributions can be applied to the current year or the previous year. You are good to go.
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Deal Addict
Sep 2, 2009
2282 posts
hpad06 wrote: "During the first 60 days".
This is the key part. While it is a contribution in 2021, the rules allow for a contribution during the "first 60 days" to be applied in the previous year (2020).
Jul 3, 2009
324 posts
thanks, IB is new to me, they put it for 2021 tax really confused me. I will file it for 2020.
Deal Fanatic
User avatar
May 11, 2014
5323 posts
Rankin Inlet, NU
It doesn't change anything. When you file taxes you just denote the date range of when the RRSP contribution was placed. Usually you should have a section stating March 1~ December 31, 2020 and January 1~Feb 28, 2021. As long as the transaction was placed in the time frame, you are fine.
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