Every year, Travis maximizes his registered retirement savings plan (RRSP) contributions. Near the end of last year, he realized that he had contributed $3,000 in excess of the contribution limit. He has never gone over the limit and is concerned about what will happen. What do you tell him? O There will be no consequences due to the over contribution allowance O He will be charged a penalty of $30 per month until he takes out the excess contributions. O He may contribute $2,000 over the contribution limit each year without penalty. O Part of his contribution will face a penalty even though it was an honest mistake