When do financial institutions typically report TFSA activity to the CRA?

Feb 14th, 2018 12:54 am

#1

DealMaomi [OP]: Deal Guru; Oct 3, 2006; 10381 posts; 740 upvotes; Toronto

Feb 14th, 2018 12:54 am

When do financial institutions typically report TFSA activity to the CRA?

I was looking at my 2018 TFSA contribution room and it thinks I still have $11k ($5.5k from 2017 + $5.5k for 2018). The truth is, I maxed out my TFSA already, so I was expecting to see 0 left from 2017, but it still shows I have 5.5k. I used it up in the first few months of 2017, so it wasn't like I contributed late in the year or anything. So I'm just wondering when do financial institutions typically report TFSA activity to the CRA and when can we expect to see our TFSA contribution rooms updated?

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Feb 14th, 2018 1:00 am

#2

MaxPower19: Deal Addict; Dec 22, 2008; 2162 posts; 964 upvotes; Victoria

Feb 14th, 2018 1:00 am

I can’t remember the exact date but it’s sometime around April 2018 that all 2017 transactions must be reported by.

Feb 25th, 2020 11:56 am

#3

ArchEnemy: Sr. Member; Aug 5, 2011; 513 posts; 188 upvotes

Feb 25th, 2020 11:56 am

Any idea when the 2019 TFSA information will be updated on the CRA website?

Feb 25th, 2020 12:08 pm

#4

haliwood: Deal Addict; Aug 3, 2009; 2042 posts; 495 upvotes; Nova Scotia

Feb 25th, 2020 12:08 pm

Anyone find questrade transactions never shown up to cra?

Feb 25th, 2020 3:59 pm

#5

elpaso: Deal Addict; Aug 15, 2009; 1525 posts; 1194 upvotes; Montreal

Feb 25th, 2020 3:59 pm

Should be around April of each year.

Feb 25th, 2020 5:27 pm

#6

callernamet: Deal Addict; Mar 10, 2018; 3731 posts; 801 upvotes; centre of universe

Feb 25th, 2020 5:27 pm

Aznsilvrboy wrote: ↑ I was looking at my 2018 TFSA contribution room and it thinks I still have $11k ($5.5k from 2017 + $5.5k for 2018). The truth is, I maxed out my TFSA already, so I was expecting to see 0 left from 2017, but it still shows I have 5.5k. I used it up in the first few months of 2017, so it wasn't like I contributed late in the year or anything. So I'm just wondering when do financial institutions typically report TFSA activity to the CRA and when can we expect to see our TFSA contribution rooms updated?

Any contributions that are made or withdrawn from a TFSA in the prior year may not be reflected in your available current year contribution room until after the end of February. All issuers have until the last day of February to electronically submit a TFSA record to the CRA for each individual who has a TFSA. Any transactions made in the current year will not be included.

From CRA

I dont care about Ethics, morals, rules or laws. I will apologies only when I get caught.
I try not to apologies but sometimes do it. not because its right thing but it benefits me.
New Mantra for idiots Just ask RFD before searching answers anywhere.

Feb 26th, 2020 11:44 pm

#7

HyperTech: Deal Addict; Dec 4, 2007; 4056 posts; 1721 upvotes; Quebec

Feb 26th, 2020 11:44 pm

haliwood wrote: ↑ Anyone find questrade transactions never shown up to cra?

if its really the case, then you really should contact qt.

btw, qt will not report every single trade you made in your tfsa account, only deposit and withdrawal.

also all the deposit or withdrawal you made in 2019 will not appear before april, even end of april.

Feb 27th, 2020 10:15 am

#8

GoodFellaz: Penalty Box; Jun 24, 2015; 4963 posts; 1494 upvotes; 0 downvotes

Feb 27th, 2020 10:15 am

i transferred some tfsa from one institution to another and my transaction showed up on cra already, it was there for like 2 weeks i also did a deposit and it shows up on cra tax page. so yes you dont gotta wait till april

Hi

Feb 27th, 2020 12:06 pm

#9

jackrabbit000: Deal Fanatic; Dec 28, 2007; 7957 posts; 4583 upvotes; Alberta

Feb 27th, 2020 12:06 pm

I did a withdrawal by mistake out of my TFSA in January 2019 and I checked yesterday and still nothing is posted on my CRA account.

Feb 27th, 2020 12:21 pm

#10

callernamet: Deal Addict; Mar 10, 2018; 3731 posts; 801 upvotes; centre of universe

Feb 27th, 2020 12:21 pm

jackrabbit000 wrote: ↑ I did a withdrawal by mistake out of my TFSA in January 2019 and I checked yesterday and still nothing is posted on my CRA account.

same here. My room still shows almost 30K. And none of my 2019 transaction have showed up yet.
As I said before I always wait till March or even 1week of April for checking/reporting this.

I dont care about Ethics, morals, rules or laws. I will apologies only when I get caught.
I try not to apologies but sometimes do it. not because its right thing but it benefits me.
New Mantra for idiots Just ask RFD before searching answers anywhere.

Feb 28th, 2020 4:32 am

#11

cgtlky: Deal Fanatic; Jan 31, 2006; 7228 posts; 1838 upvotes; Toronto

Feb 28th, 2020 4:32 am

ArchEnemy wrote: ↑ Any idea when the 2019 TFSA information will be updated on the CRA website?

Mine is already updated, it shows the exact contribution room i have for 2020.

Feb 28th, 2020 6:06 am

#12

VESTEGAARD: Sr. Member; Dec 28, 2010; 637 posts; 287 upvotes

Feb 28th, 2020 6:06 am

By the end of February

Do you want to meet the love of your life? Look in the mirror. | Byron Katie

Feb 28th, 2020 7:21 am

#13

ArchEnemy: Sr. Member; Aug 5, 2011; 513 posts; 188 upvotes

Feb 28th, 2020 7:21 am

Thanks. I’m with questrade but my CRA account has not yet been updated. I’m guessing it should be updated today?

Mar 4th, 2020 10:10 am

#14

callernamet: Deal Addict; Mar 10, 2018; 3731 posts; 801 upvotes; centre of universe

Mar 4th, 2020 10:10 am

ArchEnemy wrote: ↑ Thanks. I’m with questrade but my CRA account has not yet been updated. I’m guessing it should be updated today?

mine appeared today. And that was what I have posted before that by 1week of March all TFSA will show up.

I dont care about Ethics, morals, rules or laws. I will apologies only when I get caught.
I try not to apologies but sometimes do it. not because its right thing but it benefits me.
New Mantra for idiots Just ask RFD before searching answers anywhere.

Mar 4th, 2020 7:34 pm

#15

HyperTech: Deal Addict; Dec 4, 2007; 4056 posts; 1721 upvotes; Quebec

Mar 4th, 2020 7:34 pm

my questrade tfsa transaction is not updated yet so far

+1

Mar 4th, 2020 11:05 pm

#16

ArchEnemy: Sr. Member; Aug 5, 2011; 513 posts; 188 upvotes

Mar 4th, 2020 11:05 pm

HyperTech wrote: ↑ my questrade tfsa transaction is not updated yet so far

Mine neither.

+1

Mar 12th, 2020 6:20 pm

#17

Messerschmitt: Banned; Jul 17, 2008; 11042 posts; 3847 upvotes

Mar 12th, 2020 6:20 pm

At least 1 brokerage and 1 credit union has not updated the TFSA transfers from 2019 with CRA. And CRA says pretty clearly that it must be done by end of February

Mar 12th, 2020 7:58 pm

#18

HyperTech: Deal Addict; Dec 4, 2007; 4056 posts; 1721 upvotes; Quebec

Mar 12th, 2020 7:58 pm

i dont think they really enforce that rule.

Apr 9th, 2020 6:41 am

#19

HyperTech: Deal Addict; Dec 4, 2007; 4056 posts; 1721 upvotes; Quebec

Apr 9th, 2020 6:41 am

i know that we are in particular situation right now, but usually by this date, other financial institution already reported tfsa transaction to cra, but my 2019 transactions in my questrade tfsa account, the transaction doesnt show up in cra yet. anyone else?

tang and nb already sent them, questrade only sent t5008 so far.

Apr 12th, 2020 3:00 pm

#20

Octavius: Deal Fanatic; Apr 16, 2006; 6140 posts; 598 upvotes

Apr 12th, 2020 3:00 pm

Hubert Financial hasn't reported yet.