TFSA – Tax-Free Savings Account

TFSA contract number

A number issued by a financial institution (FI) to identify a Tax-free savings account (TFSA) contract.

New TFSA account this year

This box will show "Yes" only if a record for a particular Tax-free savings account (TFSA) contract is being filed for the first time.

Total number of transactions

The total number of transactions reported on this Tax-free savings account (TFSA) record.

Total holder contributions

The total of all contribution amounts reported on this Tax-free savings account (TFSA) record.

Total holder withdrawals

The total of all withdrawal amounts reported on this Tax-free savings account (TFSA) record.

Acquisition of non-qualified investment – fair market value

The fair market dollar value amount at the time a non-qualified investment is acquired or a qualified investment became non-qualified.

Withdrawal of non-qualified investment – fair market value

The fair market dollar value amount at the time a non-qualified investment is disposed of or a non-qualified investment became qualified.

TFSA holder date of death

The date of death for the last holder of this particular Tax-free savings account (TFSA).  This is not the date of death of a deceased holder in the case of a succession.

TFSA holder fair market value at time of death

The fair market dollar value amount of this particular Tax-free savings account (TFSA) contract at the time of death of the last holder. This box will be blank if the TFSA has a successor holder unless the successor is also deceased in the same year.

TFSA account closed this year

This box will show "Yes" only if the account was closed during the year. If all funds have been withdrawn from the account in a previous year and there is no activity in the account during the current year, the account is still considered open.

TFSA close date

The date on which this particular Tax-free savings account (TFSA) contract was closed.

Successor holder account

This box will show "Yes" if a successor holder exists at the time of death of the TFSA holder.

Calendar year end fair market value

The fair market dollar value amount of this particular Tax-free savings account (TFSA) contract on December 31st. This box must contain a value as long as the account is open, even if there is no activity throughout the year or if the value is zero.

Total holder transfer out – Marriage breakdown – Fair Market Value

The total fair market dollar value amount for all transfers out of this particular Tax-free savings account (TFSA) contract due to marriage breakdown.

Total holder transfer in – Marriage Breakdown – Fair market value

The total fair market dollar value amount for all transfers into this particular Tax-free savings account (TFSA) contract due to marriage breakdown.

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