Canada Revenue Agency (CRA) Edition T1-OVP E (25) 4 pages

Form T1-OVP — 2025 Individual Tax Return for RRSP, PRPP and SPP Excess Contributions

Works out the 1% per month tax on RRSP contributions that went more than $2,000 over your deduction limit in 2025.

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Form T1-OVP · 2025 Individual Tax Return for RRSP, PRPP and SPP Excess Contributions
The official Canada Revenue Agency (CRA) form, edition T1-OVP E (25) — blank
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Form T1-OVP (2025) 2025 Individual Tax Return for RRSP, PRPP and SPP Excess Contributions — page 1 of 4
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Form T1-OVP (2025) 2025 Individual Tax Return for RRSP, PRPP and SPP Excess Contributions — page 2 of 4
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Form T1-OVP (2025) 2025 Individual Tax Return for RRSP, PRPP and SPP Excess Contributions — page 3 of 4
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Form T1-OVP (2025) 2025 Individual Tax Return for RRSP, PRPP and SPP Excess Contributions — page 4 of 4
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Fill this form online Blank PDF from Canada Revenue Agency (CRA)

What is Form T1-OVP?

You can contribute up to your RRSP deduction limit, plus a $2,000 cushion, without penalty. Anything above that, counting your RRSP, PRPP and SPP contributions, your employer's PRPP contributions and contributions to a spouse's or common-law partner's plan, is an excess contribution, taxed at 1% for every month it stays in. The T1-OVP is the return that calculates that tax for 2025, month by month.

Step 2 brings forward unused contributions from before 2025. The chart then tracks each month: the balance carried in, new contributions and employer PRPP amounts, withdrawals included in income, and your deduction limit, pension adjustment reversals and the $2,000 cushion. Part B, for people with mandatory group RRSP or PRPP contributions under an irrevocable agreement, shelters part of those. Part C gives the amount subject to tax each month, and Step 3 applies the 1%.

In FileIt you enter your contributions and withdrawals for each month once, plus your deduction limit and a few yes/no answers; it fills in all 20 lines for all 12 months on the CRA's own PDF (edition T1-OVP E (25)) and works out the tax. The return is saved in your vault folder. You sign it and send it with your payment; FileIt never files anything.

Who fills it
Anyone whose 2025 unused RRSP contributions exceed their deduction limit plus $2,000
Sent to
Your tax centre, with your payment and documents showing the months of contributions and withdrawals
When
No later than 90 days after the end of 2025
Rate
1% of the excess for each month
Signatures
Yours, by hand, with the date and your telephone number
Edition
T1-OVP E (25)

Who needs to fill out Form T1-OVP?

  • People who contributed more than their RRSP deduction limit plus $2,000, for example after a pension adjustment cut their room.
  • Members of a group RRSP or PRPP with mandatory contributions, who need Part B.
  • Anyone carrying unused contributions from earlier years that grew past the cushion in 2025.

When to use Form T1-OVP

  • Within 90 days after the end of 2025, as soon as you know contributions were over the limit.
  • Even if you've already withdrawn the excess, for the months it stayed in.
  • If you made no mandatory group contributions, the shorter T1-OVP-S may be enough.

What you need before you start

  • Your SIN and address.
  • Your 2024 T1-OVP or T1-OVP-S, or your contribution and deduction history for consecutive years ending with 2024.
  • The RRSP contributions you deducted on line 20800 of your 2024 return.
  • The month and amount of each 2025 contribution, employer PRPP contribution and withdrawal (receipts and slips don't show months).
  • Your 2025 RRSP deduction limit without your net PSPA, and box 2 of any 2025 T10 slips.
  • For Part B: the running total of mandatory group contributions and line 18 of your 2024 T1-OVP.

What’s on Form T1-OVP

The 2025 edition has 4 pages. FileIt asks for it in 10 parts:

  1. Step 1 – IdentificationEmployee
  2. Step 2 – Unused RRSP contributions at the end of December 2024Employee
  3. Note chart – unused RRSP contributions before 2025Employee
  4. Part A – Your 2025 limitsEmployee
  5. Part A – Contributions and withdrawals, month by monthEmployee
  6. Part A – The chart, worked outEmployee
  7. Part B – Mandatory group RRSP or PRPP contributionsEmployee
  8. Part C – Amount subject to taxEmployee
  9. Step 3 – Tax you have to payEmployee
  10. Step 4 – CertificationEmployee

How to fill out Form T1-OVP, step by step

1 Step 2 – Unused contributions at the end of 2024

Bring forward line 6 for December of your 2024 T1-OVP or T1-OVP-S, or fill out the Note chart with each consecutive year ending with 2024. Subtract what you deducted for 2024; the result starts January's line 1.

2 Part A – the monthly chart

For each month, enter contributions (line 2), employer PRPP contributions (line 3) and withdrawals included in income (line 5). FileIt carries the balance forward and fills your deduction limit, PARs and the $2,000 cushion into every column. Negative amounts print in brackets, as the form asks.

3 Part B – mandatory group contributions

If you had mandatory group RRSP or PRPP contributions in 2024 or 2025, switch this part on and enter the running total for each month (capped at $32,490) and line 13 from 2024. Lines 14 to 18 work out how much of the excess is sheltered.

4 Part C and Step 3

Line 20 is the amount subject to tax each month. The 12 amounts add up to line 4, and line 6 is 1% of that: your balance owing.

Common mistakes to avoid

  • Sending the return without documents showing the exact months; the CRA may then assume January, March and December dates.
  • Counting contributions from the first 60 days of 2025 that you deducted for 2024.
  • Including Home Buyers' Plan or Lifelong Learning Plan repayments as contributions.
  • Using a deduction limit that includes your 2025 net PSPA.
  • Using the T1-OVP-S when you had mandatory group RRSP or PRPP contributions.

After you fill it out

Print the PDF from your FileIt vault, sign it, and send it to your tax centre with your payment and the statements showing the months of each contribution and withdrawal. FileIt doesn't send it for you.

To stop the tax growing, you can withdraw the excess; Form T3012A asks the CRA to approve the refund without tax withheld. Keep this return in the vault: next year's Step 2 starts from its December line 6.

Fill out Form T1-OVP online with FileIt

  1. Pick the person. Choose someone from People and FileIt fills in their name, date of birth, address and other details it already knows.
  2. Answer plain-language questions. One part of the form at a time, with the official help text beside each question — 287 fields in all. Your answers save as you go.
  3. Check the live preview. Watch your answers land on the real Canada Revenue Agency (CRA) form, and let FileIt do any worksheet arithmetic.
  4. Generate the official PDF. FileIt prints your answers into the agency’s own PDF and files it in that person’s folder in your vault.

FileIt fills the form — it never files or submits anything for you. Deliver the finished form to whoever asked for it, the way the form’s instructions say.

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Form T1-OVP: frequently asked questions

How much is the overcontribution tax?

1% per month on the excess above your RRSP deduction limit plus $2,000, for every month it stays in.

When is the T1-OVP due?

No later than 90 days after the end of the tax year, with your payment.

What's the difference between T1-OVP and T1-OVP-S?

The T1-OVP-S is shorter and can't be used if you made mandatory contributions to a PRPP or group RRSP. The T1-OVP adds Part B for those.

Where do I find my deduction limit without the PSPA?

The form points to My Account at canada.ca/my-cra-account or 1-800-959-8281.

Official sources

FileIt is not affiliated with or endorsed by Canada Revenue Agency (CRA) or any government. This page explains the form in general terms and is not legal, tax or immigration advice. Always read the official instructions, and check that you are using the edition the recipient accepts. Page last reviewed 2026-10-19.

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