Contacting Canada Revenue Agency
CRA website on TFSAs: http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/tfsa-celi/menu-eng.html
CRA online account information for individuals: http://www.cra-arc.gc.ca/myaccount/
Quick access to account information for individuals: http://www.cra-arc.gc.ca/quickaccess/
CRA Tax Individual Tax Enquiries: 1-800-959-8281
When calling, be ready to give:
- your social insurance number;
- your month and year of birth
- the total income you entered on line 150 of your most recent return
If you have a TFSA but are a non-resident of Canada: 1-800-959-8281
How to pay your penalty if you over-contributed to your TFSA: 1-888-863-8657
You are allowed to authorize a third party (such as your spouse or personal accountant) to access your TFSA information on your behalf. You must let the CRA know in writing or use the My Account part of the CRA website to make the authorization.
I inadvertently contributed too much to my tfsa in 2021. Just found out by chance recently that I’ve been paying !%per month on the amount. Trying to fix the problem but need help filling out the forms. Don’t know what the original overpaid amount was, just the amount I still owe in penalties. Can someone help me fill out the forms on the phone?
Sorry to hear that you accidentally over-contributed to your TFSA. Best to contact CRA directly to sort out this issue. The institution(s) that hold your TFSA account(s) may also be able to help you determine how much was over-contributed.
What is the Contribution Room in my TFSA?
That depends. If you were born after 1990 and have always been a citizen, you can find out by checking your TFSA contribution room and limits.
Took money out, example of 10,000 from my TFSA in the fall of last year 2019.
Want to put it back in March 2020, with the 2020 contribution allowance of 6000 for a total of 17000
Please confirm the concept, if not the numbers.
That should be correct. Your contribution room for 2020 should be $17,000, assuming you didn’t make any other withdrawals in 2019. To be 100% sure, it’s always best to contact CRA directly.