05/06/2026
She asked the bank how much RRSP room she had.
She contributed.
She trusted the process.
Now she owes thousands in taxes and penalties because she went over her RRSP limit.
This happens to more people than you think.
And the worst part?
Most people don’t even realize there’s a 1% monthly penalty until CRA sends the letter.
Always verify your RRSP room directly with CRA or your tax professional before contributing.
Have you ever been surprised by a CRA bill?
financialliteracy taxseason canadianfinance advizeagenci hamiltonontario