If your allowed contribution is not made this year, you can carry forward any unused difference to a future year, without affecting your annual contribution limit. For example, if you are eligible to make a $19,000 contribution this year, but are only able to contribute $12,000, you can carry forward the $7,000 amount to a future year without affecting your regular contribution limit.

Note: If you didn't maximize your RRSP contributions in previous years, the unused portion since 1991 is automatically carried forward to use in subsequent years subject to age restrictions. You will find your contribution limit for each year printed on your Notice of Assessment (form T1028) sent to you by Canada Revenue Agency (CRA) after filing your annual tax return (see RRSP Deduction Limit Statement). To report new unused contributions, you have to file Schedule 7, RRSP Unused Contributions, Transfers, and HBP or LLP Activities, with your return. A contribution, if registered where there was allowed room available, even though invested, if not currently claimed, can be claimed in a later year. Amounts over-contributed before February 27, 1995, up to $8,000 must be used instead of new contributions, reducing the excess to $2,000. There will be no penalty if this is done before new contributions are made.