[Contributions made in the first 60 days of the year can be used towards the previous year’s or current year’s contribution amount?]

2 hours ago, Geo123 said:

Hello romeo,

If you have an unused contribution to your RRSP from the first 60 days of 2021, the reporting method will depend on the actual situation.

 If the amount was reported in 2021 and not used in 2021, therefore carried over to 2022, then it is an unused contribution and the UFile program would have carried it over to 2022.

 IF you have a RRSP from the first 60 days of 2021, and it was never reported before, then you have to make an adjustment to your 2021 tax return or if you successfully NetFiled your 2021 tax return you can ReFILE your 2021 return after you have made the entry into your 2021 return.

Thank you. Real question is if the contribution made in first 60 days of 2023 would be counted towards over/excess contribution for 2022 return and hence will be subject to 1% penalty OR that will be carry forward and can be assessed as part of 2023 return next year?

[Contributions made in the first 60 days of the year can be used towards the previous year’s or current year’s contribution amount?]

4 minutes ago, Curmudgeon said:

The RRSP contribution year is not the calendar year. It runs from March 1 to March 1 and therefore contributions made in the first 60 days apply to the previous calendar year.

Your answer though is contradictory to what has been shared on this thread:.

https://community.ufile.ca/topic/11412-rrsp-over-contribution-on-first-60-days/