RRSP over contribution at end of working career

[bluebelle]

what happens to a RRSP over-contribution when you stop working?

scenario
2020 is that last year of earned income, in 2020 you over-contribute to your RRSP by $20, in prior years that would just be carried forward to be an unused RRSP contribution.   

In Mar 2021, I do my taxes, I've over-contributed by $20.....there is no earned income in 2021.....what happens in March 2022 when I do my taxes and I have a $20 RRSP contribution?   Do I get to just carry it forward forever since we're allowed to over contribute by $2,000?

[Stashasaurus]

Hi Bluebelle,

The short answer is yes. As long as the over-contribution is less than $2,000 you can carry it into retirement with no penalty.
See CRA page:https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/rrsps-related-plans/contributing-a-rrsp-prpp/what-happens-you-over-your-rrsp-prpp-deduction-limit.html

[bluebelle]

Hi Bluebelle,

The short answer is yes. As long as the over-contribution is less than $2,000 you can carry it into retirement with no penalty.
See CRA page:https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/rrsps-related-plans/contributing-a-rrsp-prpp/what-happens-you-over-your-rrsp-prpp-deduction-limit.html

thank you.....that's how I was interpreting it, but wanted a second opinion

I guess that's my MPP, I want to put more into my RRSP, but have run out of room.