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When you withdraw from your RRSP (before retirement), it doesn't reduce the contributions that you make during the year or in previous years. It reduces your lifetime contribution room. If you take out $5000 from your TFSA, then you can contribute that $5000 back the next year, so your lifetime contribution room will end up the same. But if you take out $5000 from your RRSP, then you will never be able to put that money back in. 

Thank you Susan but I don’t get it, I withdraw 5k from RRSP because I exceeded my limit. My understanding when you exceed your contribution limit, you have to withdraw to correct. Here is an example:

RRSP limit contribution: 15 k

i contributed 20k than I withdraw 5k to correct but didn’t use the form T3012A.

if I put my RrSP contribution is 20k, I have to pay penalties, does it mean unless I use the form T3013A, my withdraw doesn’t correct the situation.

thank you for your patience.

Samira

If you have over contributed, you should use the T3012A form. It will not be fixed using your tax return.

Sorry to insist, I withdraw the 5 k in may 2023 because I knew there is going to be a problem of exceeding limit RRSP for 2023. now do I fill the form T3012A for this 5k taken last year or for a new amount to withdraw again? Sorry I am confused 

For more information, please see our TurboTax article: How to Resolve RRSP Over-Contributions.

For further clarification please contact the Canada Revenue Agency (CRA) by calling 1-800-959-8281.

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