How does the CRA know if I made TFSA contributions?

Financial institutions track and report your TFSA contributions to the Canada Revenue Agency (CRA). You do not report your TFSA contributions on your tax return.

To check your TFSA contribution room, you may use CRA’s My Account service online. The TFSA information reflects contributions and withdrawals made up to the date indicated by CRA. You should compare this information with your own records to ensure it is correct.

Learn more about TFSAs including contributions limits by visiting our TFSA basics page on GetSmarterAboutMoney.ca