If you received an amount from a spousal or common-law partner RRSP, SPP, or RRIF during the year and your spouse contributed to a spousal RRSP or SPP for you in the current year or in the two preceding years, you’ll need to complete the T2205 form. This will help determine how much of the amount received should be included as income on your tax return and how much your spouse must include with his or her income.
Note: Both you and your spouse will need to complete the T2205 form in your tax returns. Don’t forget to keep a copy of the form for your records!
Additionally, if your RRSP, SPP, or RRIF has been deregistered, the Canada Revenue Agency (CRA) considers you to have received an amount from the plan in the year it was deregistered, in which case you’ll need to complete the T2205 form.
You don’t need to complete this form if any of the following apply:
- the amount you received is a periodic annuity payment from an RRSP or SPP
- the amount you received is a minimum amount payment from a RRIF
- the contributor died in the year and the deceased annuitant is considered to have received the amount because of death
- when you received the amount or when the RRSP, SPP, or RRIF was deregistered, one of the following applied*:
- you and your spouse were living separate and apart because of a breakdown in your relationship or
- you or your spouse was not a resident of Canada
*In either of these situations, include the amounts as part of your own income.
What is a spousal RRSP, SPP, or RRIF?
An RRSP, SPP, or RRIF is a spousal or common-law partner plan or fund if it meets any of the following conditions:
- your spouse or common-law partner contributed an amount to the RRSP and SPP while you were the annuitant
- it’s an RRSP, RRIF, or an SPP that has received a payment or a transfer of property from a spousal RRSP, SPP, or RRIF
Check out the CRA’s website for more information on amounts paid from a spousal RRSP, SPP, or RRIF.
Where do I claim this?
Follow these steps in H&R Block’s tax software to file your 2016 taxes:
- On the PREPARE tab, click the LET'S TALK ABOUT 2016 icon.
- Select the checkbox labelled I had investments and/or investment income, or I bought and/or sold property.
- Click the PENSION PLANS AND INVESTMENTS icon. You'll find yourself here:
- Under the OTHER INVESTMENT INCOME heading, select the checkbox labelled Amounts from a spousal or common-law partner RRSP, RRIF, or SPP to include in income (T2205), then click Continue.
- When you arrive at the T2205 page, enter your information into the tax software.