Accessing Details Regarding Your TFSA Contribution Room

 Please be advised that the Canada Revenue Agency (CRA) has revised its process to communicate TFSA contribution room to holders of TFSA accounts.
 
In previous years, your TFSA contribution room was shown on your T1 Notice of Assessment. Occasionally, the amount quoted was not current because the CRA had processed the tax return before additional information from all financial institutions could be incorporated and reflected.
 
In an effort to avoid any possible confusion, the CRA is no longer including TFSA Contribution Room on the T1 Notices of Assessment.
 
The CRA recommends TFSA holders take advantage of their secured online service option My Account to obtain the most up-to-date information about TFSA transactions and available TFSA Contribution Room. Any changes to your TFSAs are uploaded daily as the TFSA information from TFSA issuers is received and processed.
 
In addition to the My Account section of the CRA website, the following are additional resources available to TFSA holders in obtaining confirmation of their TFSA Contribution Room:
 
·         1-800-267-6999 Tax Information Phone Service (TIPS) (available 24 hours a day, 7 days a week)
·         Tax Centres (addresses to submit a request in writing)
·         TFSA Contribution Room (general information)
·         Quick Access (to My Account)
 

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