What is the difference between market value and book value on my RRSP statement?

Book value (also called adjusted cost base or ACB) is the total amount you paid for your investments, including all contributions and reinvested distributions. Market value is what those investments are worth today at current prices. If your market value is higher than your book value, you have an unrealized gain. The difference will never be taxed inside your RRSP — only withdrawals from the account are taxed as income.

Why does my RRSP statement show a different contribution room than the CRA?

Your RRSP statement shows the contribution room your financial institution has on file, which may not reflect your most recent tax return or contributions made elsewhere. The authoritative source for your RRSP deduction limit is your latest Notice of Assessment from the CRA, or My CRA Account online. If you have multiple RRSP accounts at different institutions, each one only shows part of your total picture.

What does MER mean on my RRSP statement?

MER stands for Management Expense Ratio — the annual fee charged by a mutual fund or ETF as a percentage of assets. An MER of 1.5% means $15 per year is deducted for every $1,000 invested. MER is not shown as a separate line on your statement — it is already reflected in your fund's unit price and return. Compare MERs when choosing between similar funds; lower MER directly increases your long-term return.

When should I be concerned about my RRSP statement?

Review your statement for: contributions that were not recorded, unexpected investment changes if you use a managed account, a market value significantly below book value for investments you expected to be stable (like bonds or balanced funds), or a total account value inconsistent with your contribution history and expected growth. Contact your financial institution immediately if contributions are missing or account details seem incorrect.

How do I find my RRSP contribution room on my statement?

Some institutions show your available contribution room on your RRSP statement, but this information comes from CRA data the institution has on file and may be outdated. For the most accurate number, check your latest Notice of Assessment or log into My CRA Account. Remember: your total room is across ALL your RRSP accounts combined, not just the one at that institution.

How to Read Your RRSP Statement in Canada (2026)

Sections of an RRSP Statement

Section	What It Shows	What to Check
Account holder	Your name, account number, institution	Verify it matches your SIN on file
Statement period	Date range this statement covers	Ensure you are reviewing the correct period
Market value	Current value of all holdings at today’s prices	Your real-time account worth
Book value (ACB)	Total amount you paid for all holdings	Used to calculate your unrealized gain/loss
Unrealized gain/loss	Market value minus book value	Inside an RRSP, this is not taxable until withdrawal
RRSP contribution room	Available room shown by institution	Verify against your CRA Notice of Assessment
YTD contributions	Amount contributed so far this calendar year	Track to avoid over-contributing
Holdings detail	Each investment position listed individually	Review each fund/ETF/stock held
Income received	Dividends, interest, distributions credited to account	These reinvest inside your RRSP tax-free
Transactions	All buys, sells, contributions, withdrawals	Verify every transaction is correct
Management fees or account fees	Any flat fees charged (some institutions charge $50–$100/year)	Flat fees are worth watching on smaller accounts

Understanding Market Value vs Book Value

Concept	Definition	Example
Book value (cost basis)	Total you paid: contributions + reinvested distributions	Contributed $40,000 total over 10 years
Market value	What it is worth today	Worth $68,000 today
Unrealized gain	Market value minus book value	$68,000 − $40,000 = $28,000 unrealized gain
Unrealized loss	Book value exceeds market value	$40,000 paid, only worth $32,000 = $8,000 unrealized loss
Tax on RRSP gains	Zero while inside the account	You only pay tax when you withdraw from the RRSP

Note: Unrealized gains inside an RRSP are not taxed until you withdraw. When you withdraw — at retirement via RRIF conversion or lump-sum — the full withdrawal amount is taxed as ordinary income, regardless of whether it came from contributions or growth.

Reading Your Holdings Section

Column	What It Means	How to Use It
Investment name / symbol	Fund, ETF, GIC, or stock name	Identify what you hold
Units / shares	Number of units or shares held	Multiplied by price = market value
Price per unit	Current NAV or share price	Compare to price when you bought
Market value	Units × price	Your position value today
Book value	Total cost of this position	Compare to market value
Unrealized gain/loss	Market − book for this position	Gain/loss since purchase
% of portfolio	This position as a percentage of total account	Check for unintended concentration
MER (if shown)	Annual management fee as % of assets	Lower is better for passive index funds

Understanding MER on Your RRSP Statement

MER Range	Investment Type	Annual Cost on $100,000
0.06%–0.25%	Index ETFs (XEQT, VGRO, ZAG)	$60–$250
0.40%–0.65%	Robo-advisor portfolios	$400–$650
1.00%–1.50%	Balanced mutual funds	$1,000–$1,500
1.75%–2.50%	Actively managed mutual funds	$1,750–$2,500
2.50%–3.00%+	High-cost legacy mutual funds	$2,500–$3,000+

MER is not deducted as a visible line item — it is already accounted for in the daily unit price. You will not see it leave your account; your fund simply grows at a net-of-fee rate.

RRSP Contribution Room on Your Statement

Item	Source	Reliability
Room shown on RRSP statement	Financial institution estimate (from last CRA data exchange)	May be outdated or incomplete
Room on Notice of Assessment	CRA-calculated after processing your prior year return	Authoritative for prior year
Room in My CRA Account	CRA real-time (updated after return processing)	Most current official source
YTD contributions this year	Not yet reflected on your NOA	Track manually across all institutions

Contribution over-limit penalty: If you exceed your RRSP room by more than $2,000, CRA charges 1% per month on the excess until it is withdrawn. Never rely solely on your statement’s room figure.

Common RRSP Statement Transactions Explained

Transaction Type	What It Means
Contribution	Cash deposited to your RRSP; increases your book value
Buy	Purchase of a security using RRSP cash
Sell	Sale of a security; proceeds stay inside RRSP as cash
Distribution / Dividend	Income paid by a fund; reinvested automatically inside RRSP
Management fee	Annual flat account fee (not MER) charged by the institution
Transfer in	Assets moved from another RRSP account (not a contribution)
Transfer out	Assets moved to another registered account; should be direct transfer to avoid withholding
Withdrawal	Cash or in-kind removal from RRSP; 100% taxed as income; withholding applies
RRSP maturity / conversion	Account converted to RRIF at age 71; not a taxable event

RRSP Withdrawal Withholding Tax Rates

Withdrawal Amount	Withholding Rate (Federal + Provincial approx.)	Note
Up to $5,000	20–21%	Additional tax may be owed at filing
$5,001–$15,000	26–30%	—
Over $15,000	30–31%	—
Any amount (Quebec)	Federal 5% + Quebec 14%	Province applies separately

Withholding is a prepayment of tax, not the final amount. Your actual tax depends on your total income that year.

What to Do Each Time You Receive Your RRSP Statement

Action	Why
Verify all contributions are recorded	Institution errors do occur; catch them early
Compare market value trend year-over-year	Long-term growth check; avoid panic on short-term dips
Check your asset allocation (% stocks vs bonds)	Rebalance annually if target percentages have drifted
Review MERs on all holdings	Switch to lower-cost index ETFs if mutual fund MERs are above 1.5%
Confirm no unexpected withdrawals	Protects against fraud or administrative errors
Cross-reference contribution room against your NOA	Prevent accidental over-contributions