An RRSP statement lists what your plan holds, what it has cost, what it’s worth now, and the money that moved in and out during the period. This page explains each figure and what the statement can’t tell you. It’s part of the RRSP hub, with companion guides to reading a RRIF statement and a non-registered investment account statement.
The main figures
| Figure | What it shows |
|---|---|
| Market value | What the plan’s investments and cash are worth at the statement date |
| Book value | What was paid for the investments it holds |
| Unrealized gain or loss | Market value minus book value |
| Contributions | Money you (or your spouse, for a spousal RRSP) put in during the period, with the year-to-date total |
| Income | Interest, dividends and distributions credited to the plan |
| Transactions | Purchases, sales, transfers in and out, fees and withdrawals |
| Holdings | Each investment, with units, price, market value and book value |
Gains, income and losses inside an RRSP don’t affect your taxes while they stay in the plan, so book value matters less than in a non-registered account. What gets taxed is what you withdraw, all of it as income.
Contributions and your room
The statement shows contributions made to that plan; it doesn’t know about contributions to RRSPs elsewhere, pension adjustments from a workplace plan, or the current year’s room. Your RRSP deduction limit is on your latest notice of assessment and in CRA My Account. If you contribute more than your limit: Only the amount more than $2,000 over your deduction limit is taxed. The tax is 1% of the excess for each month it stays in. The $2,000 cushion requires that you were 18 or older at any time in the previous year. See the RRSP contribution limit.
Contributions made in the first 60 days of a year can be deducted on the previous year’s return; your provider issues a contribution receipt for them separately from the statement.
Fees and MER
Account fees (an annual administration fee, or an advisor’s or robo-advisor’s management fee) appear as transactions. A fund’s management expense ratio (MER) doesn’t: it’s taken inside the fund and is already reflected in the unit price, so it shows up as lower returns rather than a charge. Each fund’s fund facts or ETF facts document states the MER; the MER calculator shows what a fee costs over time.
Transfers and withdrawals
- Transfers directly from one RRSP to another, or from an RRSP to a RRIF, aren’t taxed and aren’t contributions.
- Withdrawals are added to your income and have tax withheld up front:
| Withdrawal | Outside Quebec | Quebec (federal + provincial) |
|---|---|---|
| Up to $5,000 | 10% | 19% |
| Over $5,000 up to $15,000 | 20% | 24% |
| Over $15,000 | 30% | 29% |
Source: Canada Revenue Agency. The rate applies to the whole withdrawal, and it’s a prepayment: the final tax depends on your total income for the year. Withdrawals under the Home Buyers’ Plan and Lifelong Learning Plan have no tax withheld. An RRSP must be converted to a RRIF or an annuity, or withdrawn, by the end of the year you turn 71; see when to convert an RRSP to a RRIF.
What to check each time
- Every contribution you made appears, in the right year.
- There are no withdrawals, transfers or fees you don’t recognize.
- The mix of investments still matches what you intended.
- For contribution room, your notice of assessment, not the statement.
Related resources
Sources
The figures and rules on this page come from these sources, last checked against them between August 29, 2026 and September 29, 2026. How we check facts.
- Canada Revenue Agency: RRSP: Tax rates on withdrawals
- Canada Revenue Agency: RRSPs and Other Registered Plans for Retirement
- Government of Canada: RRSPs and Other
- Internet Archive: Payments From an RRSP, a VRSP, a PRPP or a RRIF
- Justice Laws (Canada): Income Tax Act