Apparently, I've been over-contributing to my RRSP for about 5 years (the problem started in 2010 tax year, when I made an over-contribution and my previous accountant didn't fill out a form correctly to generate the contribution room). My current accountant is going to try and go back and amend the returns (which will cost me $$$) or I can take the extra ~$6,000 out (I am $8,000 over the allowable amount), and pay all the penalties (to the tune of 1% of the amount over $2,000 per month, for the last 5 years) unless the CRA is feeling generous, and decides to wave the penalties. :/
So, I'm wondering if anyone has experience with RRSP over-contrbutions, and CRA being lenient with the penalties, when you take the extra out...
The problems of savers....
I think the way the CRA online login words these things, is terrible, as it doesn't say over-contribution, just that you have some unused deductions to carry forward to the next year, which sounds like a good thing, right??
Bah! No wonder everyone hates the CRA!