RRSP - Refund of excess contributionsYou contributed to your RRSP/ RPP by exceeding your "RRSP/PRPP deduction limit statement" as set out on your CRA Notice of Assessment.
You must have completed Form T3012A and have fulfilled all the conditions described in T3012A.
Subsequently, the financial institution that refunded you for your excess contribution must have issued a T4RSP by entering in box 20 the refund amount for excess contributions. For Quebec residents, the institution must issue a RL-2 with an amount in boxes F.
To report this refund in the software, follow the following procedure:
1. On the "Left-side menu of the Interview tab", select the "Interview setup".
2. In the screen on your right, go to the "Pension" group, check the box for "Pension income, other income and split pension income, COVID-19 benefits (T4A, T4A(OAS), T4A(P), T4A-RCA, T4RSP, T4RIF, T1032)" and click "Next" at the bottom of the page.
3. Return to the "Left-side menu of the Interview tab" and select " T4A and Pension income".
4. On the right page, click on the plus sign "+" icon to the right of the line "T4RSP - Income from registered retirement saving plan (RL-2)".
5. Enter the amount of box 20 of the T4RSP.
This amount will be entered on line 12900 and deducted on line 23200 of the federal return.
For residents of Quebec, the amount will be entered on line 154 and deducted on line 250 of the Quebec return.
ID: 20210729134234NA.xml
Webpage: KPA385-20210729134234NA.htm