Line 129 – RRSP income

Enter on line 129 the total of amounts shown in boxes 16, 18, 28, and 34 of all your T4RSP slips. Also report amounts shown in boxes 20, 22, and 26, unless your spouse or common-law partner made a contribution to your RRSP. For more information, see “RRSPs for spouse or common-law partner” in the next section.

Note
If you report a refund of RRSP premiums shown in box 28 of your T4RSP slips, and you rolled over an amount to a registered disability savings plan (RDSP), you may be able to claim a deduction. See line 232 for more information. For more information about RDSPs, go to www.cra.gc.ca/rdsp or see Guide T4040, RRSPs and Other Registered Plans for Retirement.

Tax Tips
If unused RRSP contributions you made after 1990 were refunded to you or your spouse or common-law partner in 2011, you may be able to claim a deduction on line 232. For more information, see line 232.

RRSP annuity payments you report on line 129 (shown in box 16 of your T4RSP slips) qualify for the pension income amount if you were 65 years of age or older on December 31, 2011, or if you received the payments because of the death of your spouse or common-law partner (see line 314).

You may also be able to jointly elect with your spouse or common-law partner to split your RRSP annuity payments you reported on line 129, if you meet all of the following conditions:

you were 65 years of age or older on

December 31, 2011, or you received the payments

you were both residents of Canada on December 31, 2011 (or were residents of Canada on the date of death); and
you and your spouse or common-law partner were not, because of a breakdown in your marriage or common-law relationship, living separate and apart from each other at the end of the year and for a period of 90 days commencing in the year.

To make this election, you and your spouse or common-law partner must complete Form T1032, Joint Election to Split Pension Income.

RRSPs for spouse or common-law partner

Your spouse or common-law partner may have to report some or all of the RRSP income shown in boxes 20, 22, or 26 of your T4RSP slips if he or she contributed to any of your RRSPs in 2009, 2010, or 2011. In that case, your T4RSP slips should have “Yes” ticked in box 24 and your spouse’s or common-law partner’s social insurance number shown in box 36.

To calculate the amount from an RRSP for a spouse or common-law partner that each of you has to report, complete Form T2205, Amounts from a Spousal or Common-Law Partner RRSP or RRIF to Include in Income. Both you and your spouse or common-law partner should include this form with your paper returns. However, only the person shown as the annuitant (recipient) on the T4RSP slips can claim the income tax deducted (box 30) and should attach the slips to his or her paper return.

For more information, see Guide T4040, RRSPs and Other Registered Plans for Retirement.

Repayments under the Home Buyers’ Plan (HBP) and the Lifelong Learning Plan (LLP)

If, in previous years, you withdrew funds from your RRSP under the HBP or the LLP, you may have to make a repayment for 2011. The minimum repayment is shown on your notice of assessment or notice of reassessment for 2010. To make a repayment, you have to contribute to your RRSP from January 1, 2011, to February 29, 2012, and designate your contribution as a repayment on line 6 or 7 of Schedule 7 (see page 24). Do not send your repayment to us.

If you repay less than the minimum amount for 2011, you have to report the difference on line 129 of your return.

Example
Kevin withdrew funds under the HBP in 2006. His minimum required repayment for 2011 was $800. The only RRSP contribution he made from January 1, 2011, to February 29, 2012, was $500 on June 18, 2011. He designated it on line 6 of Schedule 7 as a repayment under the HBP and included $300 in his income on line 129 ($800 minimum required repayment minus $500 repaid and designated).

For more information, including the rules that apply when the person who made the withdrawal dies, turns 71 years of age, or becomes a non-resident, see Guide RC4135, Home Buyers’ Plan (HBP) or Guide RC4112, Lifelong Learning Plan (LLP).