The 2021 RRSP or TFSA campaign is moving full steam ahead! Enjoy a distinctive distance selling experience with EVO and our various sales support tools.
Did you know that it only takes nine minutes to complete a savings application? Grow your business efficiently with iA!
Here is the important information you need to remember to ensure your transactions are processed on time.
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RRSP contributions for the 2020 tax year |
Deadlines |
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EVO (including: one-time contributions [one-time PAD] only) |
Monday, March 1, 2021 A one-time contribution (one-time PAD) made using EVO tools must be confirmed by the advisor once the client has signed electronically:
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RRSP contributions (including: cheques, subsequent deposits, one-time PADs, transfers from life insurance or intercontract transfers) |
Monday, March 1, 2021
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Career only - Transaction approvals in the Advisor Centre Note: Between March 1 and 3, when entering the transactions, you must choose the “first 60 days of the year” contribution period and the signature date must be March 1, 2021, or earlier. |
Wednesday, March 3, 2021 Transactions must be approved at the agency:
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Receipt of documents at Head Office and at the service centres |
Friday, March 5, 2021 Documents must be received:
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Electronic fund transfer: a second-choice option
Your clients can use Electronic fund transfers to make their first-60-days deposits. However, remember financial institution processing times, which can vary between one and three business days. The deadline for receiving the RRSP contribution remains March 1, 2021, for electronic fund transfers.
Choose EVO for fast transactions without delay!
Additional information about RRSP contributions
- The RRSP contribution limit (2020 taxation year): $27,230 or 18% of the income earned in 2020, whichever is less, minus the pension adjustment (PA).
- Unused contribution room: your clients can take advantage of unused contribution room from previous years (amount shown on the most recent federal Notice of Assessment).
- Excess contributions: a penalty of 1% per month applies to excess contributions to an RRSP except where they do not exceed $2,000 at any time during the year.
For more information go to the Canada Revenue Agency (CRA) website.
RRSP contributions for the 2020 tax year – Deadlines
The processing time for RRSP loan applications is five to ten business days. Units will be purchased on the approval date only.
| RRSP contribution with loan | Deadlines |
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WITH rate reduction of 0.50%
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Friday, February 12, 2021
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WITHOUT rate reduction Career only - Transaction approvals in the Advisor Centre Note : Between March 1 and 3, when entering the transactions, you must choose the “first 60 days of the year” contribution period and the signature date must be March 1, 2021, or earlier |
Wednesday, March 3, 2021 Transactions must be approved at the agency:
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| Receipt of documents at Head Office and at the service centres |
Friday, March 5, 2021 Documents must be received:
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Click here for more information about preapproved RRSP loan offers.
Important
The 2021 RRSP or TFSA campaign marks the busiest time of the year. We make every effort to meet RRSP contribution deadlines. As a result, it may take longer than the usual average for other requests.
To avoid duplicate processing, please DO NOT send a fax in addition to the original documents.
For example, in the case of RRSP loans specifically, duplicate processing would result in duplicate credit checks (Equifax) for the same loan.
Want to know more?
Contact Customer Service by phone at 1-844-4iA-INFO or by email at savings@ia.ca for more information.
Happy campaign!
