T1‑OVP – 2025 Individual Tax Return for RRSP, PRPP and SPP Excess Contributions

What Is T1‑OVP?

The T1‑OVP is an individual tax return used when you have contributed more to a Registered Retirement Savings Plan (RRSP), a Pooled Registered Pension Plan (PRPP), or a Specified Pension Plan (SPP) than your allowable limit for the tax year. Filing this form helps calculate any tax owing on amounts in excess of your contribution room.

When You Must File a T1‑OVP

If you overcontributed to your RRSP, PRPP or SPP and your unused contribution room does not cover the excess — and you are not exempt (for example, due to mandatory pension contributions) — you must complete this return. The CRA charges a tax of 1 % per month on excess contributions that exceed $2,000 over your limit.

How to Get the Form

You can download the T1‑OVP PDF to your computer and open it using Acrobat Reader 10 or later:

• Accessible fillable PDF (t1‑ovp‑fill‑25e.pdf)
• Standard printable PDF (t1‑ovp‑25e.pdf)

Previous years’ versions in fillable and print formats are also available on the CRA page.

How to Complete and File

Fill out the form with details of your contributions and any withdrawals for the year. Include supporting documentation that shows the exact dates and amounts of excess contributions and withdrawals. When submitted, this return helps determine whether you owe the excess contribution tax and how much.

Filing Deadline and Payment

You must file your T1‑OVP return and pay any balance owing by March 31, 2026, for the 2025 tax year. When you file, include documents such as statements showing contribution and withdrawal dates that support the amounts reported.

Related Forms

If your situation is simpler (for example, you have excess contributions but no mandatory employer contributions or certain other conditions), you may be able to use the simplified version T1‑OVP‑S.