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Seniors and students
Yes, you should take out the over-contribution amount as soon as possible.
Then you will need to fill out and mail T1-OVP 2022 Individual Tax Return for RRSP, PRPP and SPP Excess Contributions to report the extra contribution and calculate your penalty. This form is not available in TurboTax.
‎February 15, 2023
5:29 PM