RRSP over contribution Solution

By XYZ updated on 4/3/2019. Source XYZ

Three steps.

  1. According to lastest Notice of assessment, fill out form T3012A to withdraw over contribution amount, withdraw amount calculation( the negative contirbuion room amount in NOA minus 2000), mail T3012a form to CRA. Option may attach tax penaly waver form
  2. When get CRA approved T3012A form, bring three copy to bank and withdraw RRSP
  3. Fill  and mail T1-OVP form to CRA before next year March 31 to calcuation penalty tax need pay
Iris CPA, CGA cell: 647-779-7887; Wechat: xyz4tax
Disclaimer: The authors of xyzAccounting.com strive, but cannot guarantee, to provide information which is current and accurate. Individual circumstances have a significant effect on how tax and financial information can be used. Due to this, and to the nature of the information, it should not be relied upon for decision making without professional advice.
xyzTax.ca provides links to other web sites. The authors of xyzTax.ca cannot guarantee the accuracy of the information provided on linked sites.

Contact us for a non-obligatory discussion

Leave us a message and we will get back to you on the same working day.

CPA
MCSD