Greetings! Thank You for your RRSP business. The answers to your most frequently asked questions follow. If you have another question or require assistance, just click here to contact me.
Q: What was the RRSP contribution deadline for the 2009 tax year? A: Monday, March 1st, 2010
Q: I want to make an additional contribution. Where do I send the cheque? A: For Empire Life RRSPs, make the cheque payable to ‘The Empire Life Insurance Company’ and send the cheque to:
Empire Life Head Office 259 King Street East Kingston, ON K7L 3A8
Be sure to include your RRSP # (it’s on your statement) and what fund you want to put the deposit into. If not noted, it will be invested as in the past.
Alternatively, if you saved your ‘Annual Investment Statement’ package, you can also use the enclosed ‘Give Yourself a Raise’ brochure and the included postage-paid envelope.
Q: How do I set up monthly deposits? A: Send a ‘void’ cheque along with a completed ‘Give Yourself a Raise’ brochure in the postage-paid envelope included with your ‘Annual Investment Statement’ package.
Q: How much can I contribute? A: Check your ‘Notice of Assessment’ from the last tax year to determine this. The contribution limit for the 2009 tax year was the lower of $21,000 and 18% of earned income in 2008, less the pension adjustment (PA) + your unused RRSP room from previous years. It's also possible to make up to $2,000 in excess contributions in an RRSP without a penalty. However, the Canada Income Tax Act imposes a 1% monthly penalty on any amount that exceeds the $2,000 limit.
If your question wasn’t answered or you need additional information, please contact meand I’ll be happy to help.
