iAtoday

We would like to remind you that registered plan sponsors are required to ensure, before the end of the year, that their plans’ contribution limits have been respected. If these limits are not respected, we invite them to contact us as soon as possible to avoid tax impacts and further administrative procedures.

For 2026, the contribution limit for the following plans is 18% of earned income¹ up to a maximum amount specific to each plan:

• Defined Contribution Registered Pension Plan (DC RPP) 
• Defined Benefit Registered Pension Plan (DB RPP)
• Registered Retirement Savings Plan (RRSP)
• Deferred Profit Sharing Plan (DPSP)

View the limit for each plan.

For 2026, the Tax-Free Savings Account (TFSA) limit is $7,000. View limits for previous years.

For the First Home Savings Account (FHSA), the annual limit on contributions and transfers is $8,000 starting the year the account is opened (with a lifetime limit of $40,000). See how contributions and transfers work.

Connected persons of an employer in an RPP

Employers with staff who are connected persons participating in a registered pension plan (RPP) or a simplified pension plan (SPP) must report them to the Canada Revenue Agency (CRA) using Form T1007 – Connected Person Information Return within 60 days of the date a connected person begins to participate in an RPP or an SPP. The penality for late filing is $25 per day up to a maximum of 100 days.

Related persons in a DPSP

It is illegal for an employer-related person to participate in a DPSP.

¹ Previous year’s earned income for RRSP and current year’s earned income for other registered plans.