What are options for RRSP overcontribution ? tax reassessment march 2017 changed RRSP limit but contributions already made monthly. now over by more than 2000 allowed.

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1 Best answer

New Member

Oct 30, 2019 5:02:41 AM

You will need to submit the T1-OVP to CRA. You should also explain what happened. Some taxpayers have been able to avoid the taxes and penalty because CRA determined that it was an honest mistake.

Here is more information:

https://turbotax.intuit.ca/tips/how-to-resolve-rrsp-over-contributions-5540

New Member

Oct 30, 2019 5:02:41 AM

You will need to submit the T1-OVP to CRA. You should also explain what happened. Some taxpayers have been able to avoid the taxes and penalty because CRA determined that it was an honest mistake.

Here is more information:

https://turbotax.intuit.ca/tips/how-to-resolve-rrsp-over-contributions-5540

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What are options for RRSP overcontribution ? tax reassessment march 2017 changed RRSP limit but contributions already made monthly. now over by more than 2000 allowed.