CRA wins case against taxpayer who said he made honest mistake on RRSP

If the CRA refuses to cancel the tax, then a taxpayer has the right to seek a judicial review of the CRA’s decision in Federal Court, which is what happened in this most recent case. The taxpayer’s troubles began back in April 2021 when he contributed $22,118 to his RRSP which exceeded his 2021 limit of $9,504, as shown in his 2021 Notice of Assessment. About a year later, in April 2022, the taxpayer realized his error and requested a tax-free withdrawal from his RRSP for the excess contribution by completing Form T3012A.