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RRSP Overcontribution | Solution
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Last year was the first time I contributed to RRSP, and I didn't know you could contribute until February. Because of this, I overcontributed to my RRSP (More than 2000$) in February 2023. I came to know about over contribution this month and withdrew my money this month. I have the following questions, if someone can help, that would be great.
1. I need to pay I think 1% tax for February overcontribution. If yes, when do I need to do that, and how?
2. Do I need to fill T1-OVP, and similarly, how and when should I fill it?
3. While withdrawing, the withholding tax was cut, any chance I can get it back?
4. I need to mention the amount I got back after withholding tax as my income on next year tax file?
4. Anything else I need to take care of that I don't know?

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1 year ago