As a practical matter, it probably is NOT a good idea for you to make the PR card application until . . . well probably should wait as long as you can.
You are at risk for non-routine processing. If you make your PR application before you are SOLIDLY in compliance with the RO based on actual days in Canada, the risk is considerably higher, and more to the point, probably very much at risk for the longer version of
Secondary Review which can easily add six months to a year to the processing timeline (and maybe significantly longer in the current situation).
NOT much point in applying sooner if that means it will take a YEAR longer to get the PR card.
HOWEVER, as a technical matter I disagree with with the others. The calculation of RO compliance is prescribed by statute. If the date for calculating compliance is BEFORE the fifth year anniversary of the date of landing, the PR gets credit for days IN Canada up to the date of the examination PLUS days left on the calendar to the fifth year anniversary. Section 28(2)(b)(i) in particular. see
https://laws-lois.justice.gc.ca/eng/acts/I-2.5/page-7.html#h-274598 where it states:
"it is sufficient for a permanent resident to demonstrate at examination . . . if they have been a permanent resident for less than five years, that they will be able to meet the residency obligation in respect of the five-year period immediately after they became a permanent resident"
Thus, for example, to the extent that IRCC does determine RO compliance based on the date the PR card application is made, the statute mandates including credit for remaining days until the fifth year anniversary.
But that is not the full story. That just covers the
INITIAL calculation, based on the date the PR card application is made.
And
cutting-it-close, which relying on credit for days left on the calendar is indeed very much
cutting-it-close, tends to invite questions, including questions about the accuracy and completeness of the PR's claims as to days actually IN Canada.
So it can get complicated.
IRCC can, and in cases where it appears possible the PR falls short of RO compliance it will issue RQ-related requests to PRs who have a PR card application in process, AND/OR schedule a Residency Examination interview. BOTH of these can result in separate RO compliance examinations based on their respective dates. Thus, for example, if a PR with a PR card application in process is scheduled for an interview, the date of the interview sets the relevant date for calculating RO compliance.
Moreover, when the PR is
cutting-it-close, that tends to increase the RISK of non-routine processing . . . which can be the RQ-related processes I just mentioned, but as I previously referenced, and which tends to be more common, the PR card application may be referred to Secondary Review. The timeline for SR for many ranged to a YEAR plus some BEFORE things got shut down for Covid-19. No idea how long SR is going to be going forward for the next year or two. As previously mentioned,
NOT much point in applying sooner if that means it will take a YEAR longer, and perhaps more than a YEAR longer, to get the PR card.
As I noted, compliance with the PR RO can be examined relative to various dates when a PR makes the PR card application. Thus, for example, I particularly disagree with this:
For one thing, the applicable regulations specifically address which days do NOT count, and the only days that do not count are days AFTER a 44(1) Report has been issued OR a visa office has denied a PR TD on the grounds the PR failed to comply with the RO. see Regulartion 62(1) IRPA regulations at
https://laws-lois.justice.gc.ca/eng/regulations/SOR-2002-227/page-15.html#docCont
Which means even if the PR was short of compliance on the date the PR card application was made, if no decision is made until a later date, the PR gets credit for days in Canada after applying and up to the date that a formal determination is being made. BUT here too, this is of little comfort or aid PRACTICALLY because in these cases the likelihood of a long non-routine processing time looms large. Here too, it is foolish to apply so soon for a PR card only to have the application wallowing in SR for the next year or so.