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05.10.17 - Pre-Production Release 2017.1.1.101 is available | Notes

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Tax-Free Savings Account (TFSA) for Issuers

TFSA : TFSA for Issuers - Individual Record - Annual Information Return

A TFSA annual information return consists of both the TFSA individual records and the TFSA return summary. You have to complete a return for each TFSA identification number under which one or more TFSAs exists 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 and/or there has been no activity during the reporting year.

Once a TFSA is reported as closed, you cannot reopen it.

AvanTax eForms Software
AvanTax eForms software provides you with everything you need to prepare, print & efile your TFSA returns, and many additional return types. Whether preparing just a few slips for a single company or tens of thousands of slips for many companies, AvanTax eForms will help you to meet all your tax slip reporting requirements.
Avantax Filing Services
Would you like to avoid the stress of preparing and efiling your returns yourself? Let Avantax Filing Services do the work for you! Simply complete one of our Excel Templates and we'll convert your tax slip data into XML; print & distribute your recipient slips and process & efile your returns with CRA / RQ. Call us and see how we can help you!

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