Death of a TFSA holder

After the holder of a TFSA dies, possible tax implications may vary depending on one or more of the following factors:

  • the type of TFSA
  • the type of beneficiary(ies)
  • whether any income was earned after the date of death
  • how long, after the date of death, before amounts are distributed to beneficiaries

Depending on the factors that apply, the following can be affected:

  • whether the deceased's TFSA continues to exist or is considered to have ceased
  • how income earned after the date of death may be reported and taxed
  • whether a beneficiary can contribute amounts received to their own TFSA, within certain limits, and whether such a contribution would affect their unused TFSA contribution room

Services and information

Report a problem or mistake on this page
Please select all that apply:

Thank you for your help!

You will not receive a reply. For enquiries, contact us.

Date modified: