Your key tasks and dates for 2025 and early 2026
At Common Wealth, our job is to make your plan easy to manage – especially at year-end.
To help make sure that all of your 2025 payroll contributions are counted for this tax year and your employees get the tax documents they need, here’s a preview of what you’ll need to do and when.
Upload Your Final Payroll Register no later than 12 PM (noon) ET on Monday, December 29, 2025
To ensure December plan contributions are processed before year-end, please upload your final 2025 payroll register in your Employer Dashboard no later than 12 PM (noon) ET on Monday, December 29, 2025.
Please follow the timing that corresponds to your final pay date:
- If your final pay date of the year is in 2025, please upload your payroll register on or before the noon cut-off on December 29.
- If your final pay date of the year is in 2026, please upload your payroll register in January 2026.
What Common Wealth will do
Once we’ve finalized your 2025 contributions:
- We will file the annual TFSA information return with the CRA. (Note: TFSA contributions are not tax deductible and do not generate tax receipts.)
- We will issue RRSP contribution receipts to all plan members (one in January 2026 for contributions made in the last 10 months of 2025, and another in mid March 2026 for contributions made in the first 60 days of 2026).
- If any plan members made RRSP withdrawals in 2025, they will receive a T4RSP from Common Wealth in February 2026.
RRSP contribution receipts will be available for download in the computer version of the Common Wealth Plan. Click here to learn more.
Year-end tax slip reporting
Include employer RRSP and TFSA contributions on T4s
When preparing T4 slips, please include employer RRSP and TFSA contributions in Box 40 (Taxable Benefits). Do not include amounts deducted from employee pay.
Include employer DPSP contributions on T4s
When preparing T4 slips:
- Include employer DPSP contributions in Box 52 (Pension Adjustment).
- If the CRA has issued your 7-digit DPSP registration number, include it in Box 50 (DPSP Registration Number). If you’re not sure of your DPSP registration number, please reach out to us.
- If the CRA hasn’t issued your registration number yet, report the Pension Adjustment in Box 52 and leave Box 50 blank.
2025 RRSP deadline and limits
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- The last day to make a 2025 RRSP contribution to the Common Wealth plan is March 2, 2026, at 11:59pm EST.
- The 2025 RRSP contribution limit is 18% of 2024 earnings, up to a maximum of $32,490.
2026 RRSP/TFSA limits
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- The 2026 RRSP contribution limit is 18% of 2025 earnings, up to a maximum of $33,810.
- The 2026 TFSA contribution limit is $7,000, consistent with 2024 and 2025 as confirmed by the Canada Revenue Agency.
Questions?
If you need help, reach us at support@commonwealthretirement.com or book a call with our Customer Success team. You can also reference our payroll deductions guide here.
