Can a deceased person’s estate contribute to the deceased’s RRSP if they still have allowable RRSP contribution room available?
No, the deceased’s legal representative cannot make contributions to the deceased’s RRSP plans. But the legal representative can make contributions to a Spousal RRSP or to the RRSP of the surviving spouse or common-law partner in the year of death or during the first 60 days after the end of the year. The contributions cannot exceed the deceased’s allowable contribution limit and the contributions are deducted from the deceased’s taxable income for the year of their death.
Related Questions
- What income is included in the calculation of my allowable RRSP contributions?
- What income does not qualify as Eligible Earned Income?
- How is my RRSP contribution amount calculated?
- What is a Pension Adjustment (PA) and why is it deducted from my allowable RRSP contribution room?
- If I leave my current employer and my pension benefit is less than the Pension Adjustments (PAs), do I get my RRSP contribution room back?
- What is a Past Service Pension Adjustment (PSPA)?
- What is the maximum I can contribute to my Individual and Spousal RRSPs?
- What are the deadlines for making contributions and claiming them on my income tax return?
- Do I need to deduct all of my RRSP contributions in the tax year they were made?
- I think I have over-contributed to my RRSPs. What can I do?
- Do my RRSP contributions need to be made with cash?
- Is there an age limit for making RRSP contributions?
- I currently have allowable RRSP contribution room that I will never be able to use. Can I gift or transfer it to another person?