RRSP contribution is too much

For this tax year I had automatic deductions each month from my bank account for my RRSPs,  but the total of these contributions is in excess of the amount in Box A on my 2014 RRSP/PRPP Deduction Limit Statement from Canada Revenue Agency.  What should I do with these extra contributions?  Can they be moved to forward for my next tax return or what can be done with these contributions? 

Answer

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Over contributions can be handled in one of two ways:
- amounts can be reported and withdrawn by filing frm T1-OVS
- leave the over contribution amount to stand as an amount B, unused contributions,
  to be deducted in future.

The 2nd course of action may be ok if your over contribution is less than $2000, as
CRA usually des not penalize, but you should ensure also that you will have deduction limit Amount A in future.
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