A client contributed almost $4k over the limit and I understand the max allowed excess is $2k. I’m carrying forward excess amount. He also has RRSP contribution slip for $1k which he withheld last year (contributed during Jan-Feb18=Year 2017). Two questions:
- how actively CRA monitors excess contributions and penalizes the account?
- for $1k contribution in 2017, shall I revise the year 2017 or can claim in 2018 and carryforward to next year?