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February 15, 2022
Question

If I withdraw from my RRSP today Feb 15, 2022, what year do I need to claim it as income?

  • February 15, 2022
  • 1 reply
  • 0 views

I understand the first 60 days of the year you have to make more contributions to your RRSP. Is this the same for withdrawals? If I withdraw today, before March 2nd, will I have to claim it as income when I file my 2021? Or, do withdrawals follow calendar year and I will have to claim it on my 2022 taxes next year? 

 

Thanks, 

1 reply

TurboTaxSusan
February 20, 2022

As per the Canada Revenue Agency (CRA): “Report your RRSP income on line 12900 of your income tax and benefit return for the year the RRSPs are withdrawn.”