Jump to content

Does UFile handle excess RRSP contribution process?


Recommended Posts

I filled out my 2023 tax info in UFile this weekend, but have not yet submitted.  It appears that I've overcontributed to my RRSPs by about $4,700 (or by about $2,700 if I ignore my Jan and Feb 2024 contributions).  I have not submitted my return to the CRA through UFile just yet.

From what I'm reading online, I need to complete a T1-OVP-S 2023 Simplified Individual Tax Return for RRSP, PRPP and SPP Excess Contributions form and submit it to the CRA.  My question is:

  • Can I choose not to include the Jan and Feb 2024 contributions for the 2023 tax year? (not that it gets me below my contribution limit, but still...)
  • Does UFile handle the overcontribution process?  (i.e. the T1-OVP-S part)
  • If UFile cannot handle the above, can I still submit my 2023 tax return  through UFile and send the T1-OVP-S separately in the mail?  Or do I need to submit everything together (i.e. I have to abandon my UFile submission for the 2023 tax year and submit through the regular mail or through H&R Block, etc.)
Link to comment
Share on other sites

Hello CRS,

You must complete the from from the CRA, it is not supported by UFIle. Please contact the CRA for instructions :


Please contact the CRA at 1-800-959-8281 



CRA allows overcontribution up to $2,000 lifetime - nothing to do BUT keep it in mind for next year and do not overcontribute again.
If you end up with an RRSP over contribution in excess of the $2,000 lifetime buffer, you may owe taxes. The CRA will charge you a 1 percent penalty, assessed monthly, for each month you're over the limit.
Use the T1-OVP
‘2023 Individual Tax Return for RRSP, PRPP and SPP Excess Contributions’

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

  • Create New...