A TFSA annual information return consists of both the TFSA individual records and the TFSA return summary. You have to fill out a return for each TFSA identification number under which one or more TFSAs exist at any time in the year. Once a TFSA is opened, an individual record must be filed, regardless of activity in the account. The information (data elements) required in order for us to process each of these forms is described in Appendix A – Data elements – TFSA individual electronic record and Appendix B – Data elements – TFSA return summary.
If a record is filed in one year indicating that a TFSA was opened, we will expect to receive a record for the same TFSA in each year until such time as a record is filed with an indication that the account was closed in the year.
Do not prepare a TFSA individual record if the TFSA was reported as closed in the previous year’s TFSA annual information return. We do not consider a TFSA to have been closed just because there are no funds in the account or there has been no activity during the reporting year, or both.
Once a TFSA is reported as closed, you cannot reopen it.
- What you need to file
RZ program account number, Business number (BN), Web access code (WAC)
- TFSA annual information return
What needs to be reported, data elements, important dates
- Filing methods
Internet file transfer (XML), My Business Account, and Represent a client
- Penalties and interest
Late-filing, failure to file, failure to provide information
- After you file
Amend, cancel, how to add an individual record, rejected individual records or returns, how to change the name and date of birth
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