RRSP - steps after filling T1 OVP form ?

musicgold · Aug 20, 2025

Hi,

I had some overcontribution to my RRSP plan in 2024 and 2025, so I sent the completed T1-OVP forms to the CRA and paid the calculated penalty.

Do I still need to withdraw the excess contributions? If yes, how much should I withdraw?

Thanks

fryman · Aug 20, 2025

To get the real number for available RRSP room, look at the latest notice of assessment for the amount stated in the line "Your available RRSP contribution room for 2025". Dont look at the numbers shown on the "Savings and pension plans" page.

RRSP - steps after filling T1 OVP form ?

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