Issue with EQ reporting TFSA data to CRA

Financial institutions have until the end of Feb to report last year's TFSA contributions to CRA, so some time after that before they get updated in your CRA online account. Best to keep your own records if you want any semblance of real-time TFSA room.

⬆ is correct. Keep all records and I do keep it. I just checked my CRA account and TFSA limit is shown for year 2022. This update was not there in morning. Just the 6K amount on main page. But not transaction details.
So CRA is very slow but by 15th it should be there. Also so many T slips I get on paper. But even by First week of April some are not updated by CRA.

Since my EQ Bank T5 never showed up on the CRA web site last year, I guess it's not a great surprise that their TFSA reporting goes missing too.

Don't worry about it, just keep track yourself.

Scote64 wrote: ↑ Since my EQ Bank T5 never showed up on the CRA web site last year, I guess it's not a great surprise that their TFSA reporting goes missing too.

Don't worry about it, just keep track yourself.

You know what years back I had RBC account. I also opened TFSA with RBC when TFSA was new.
But after horrendous first month I discontinued RBC.
My$500 with RBC still showes as contribution. Nothing about withdrawing it. I noticed that yesterday.
Also as per my calculation I still get $1K difference between my records and TFSA contribution records.
So $500 I can see where it is from. But still not sure about extra $500.
This discrepancy goes I traced back to 2nd/3rd year of TFSA. So Yes I agree the system has some issues.

Scote64 wrote: ↑ Since my EQ Bank T5 never showed up on the CRA web site last year, I guess it's not a great surprise that their TFSA reporting goes missing too.

Don't worry about it, just keep track yourself.

I do keep track , but I always like to match numbers with CRA.... The problem will be if EQ one year reports contributions, and next years "forget" report withdrawals ... if you follow your record , becuase CRA website doesn't get updated, you can "overcontribute" to TFSA .... and to deal with CRA it's really pain in the ass....

in any case, contacted EQ, they created case....we'll see

Looks like EQ doesn’t report T5 either.
Last year and this year T5 from EQ did not show up on my CRA account.

mohammedessam wrote: ↑ Looks like EQ doesn’t report T5 either.
Last year and this year T5 from EQ did not show up on my CRA account.

Yeap! Don't remember last year, but this year EQ didn't report T5 (as well as Simplii and Oaken). People just should report T5's if don't display on CRA Auto-fill until end of April (just before tax deadline). Maybe then CRA would implement some meassures.
P.S. I worked in financial company that rented soft to 100+ mutual funds clients and if we didn't submit all required forms (include TFSA transactions) to CRA/MRQ up to deadline, we were facing strict penalties... I just don't get why some banks get along with it....