RRSP, TFSA, and FHSA Deadlines Every Canadian Household Should Know
The 60-day rule that decides your real RRSP deadline, and the current TFSA and FHSA limits — the numbers year-end tax prep actually runs on.
Most of year-end tax prep is paperwork. This part is math and dates — and getting the RRSP deadline wrong, or not knowing your real TFSA or FHSA room, is the one mistake that actually costs money instead of just time.
RRSP: the 60-day rule
The RRSP deadline for a given tax year isn't December 31 — it's 60 days into the following year. Any contribution made in that window can be applied against either the year you're in or the year that just ended, whichever helps your return more.
For the 2026 tax year, that means contributions made between January 1 and March 1, 2027 can still be deducted on your 2026 return. If day 60 lands on a weekend, the deadline moves to the next business day. Your actual contribution room — not just the annual limit — is listed on your CRA My Account dashboard, since unused room carries forward indefinitely.
TFSA limits
Unlike the RRSP, the TFSA has no contribution deadline — room simply resets January 1 every year, and unused room carries forward for life. The annual limit for 2026 is $7,000. For anyone who's been eligible (age 18+, resident of Canada) since the program started in 2009 and has never contributed, cumulative lifetime room reaches $109,000 as of January 1, 2026.
Withdrawals aren't lost room — they're added back, but only starting the following calendar year. Re-contributing in the same year you withdrew, before your room refreshes, is the most common way people accidentally over-contribute.
FHSA limits
The First Home Savings Account combines an RRSP-style deduction with TFSA-style tax-free withdrawals, but only for a qualifying first home purchase. The annual contribution limit is $8,000, with a $40,000 lifetime maximum. Unused room carries forward one year at a time, up to a maximum single-year contribution of $16,000 if you skipped the year before.
An FHSA has to be open for at least 15 years or closed by the end of the year you turn 71, whichever comes first — so it's not a fit for a home purchase that's still undecided or many years out.
What order to fund them in
There's no single right answer, but a common order Canadian households use: employer RRSP matching first (it's free money), FHSA next if a first home is realistically 1–5 years out (the deduction and the tax-free withdrawal both apply), then TFSA for anything else, then additional RRSP room if you're in a high tax bracket now and expect a lower one in retirement.
These limits are federally set and typically increase most years — confirm the current figures on CRA's site before contributing, especially close to a deadline.
Turn this into a printable system
Every post pairs with a binder or checklist you can actually put on the fridge.
Take this with you: the free Year-End Tax & Finance Checklist for Canadians
A printable PDF of the full checklist, emailed to you. The four-month runway from December to the April 30 filing deadline — contributions, receipts, slips, self-employed/gig/crypto income, and CRA setup — in one printable checklist.
Read the checklist onlineAll free resourcesPersonalized version, CA$12
Frequently asked questions
March 1, 2027. RRSP contributions made in the first 60 days of a year can be deducted against the prior tax year, so the real deadline is always 60 days into the following year, not December 31.
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