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Discussion forum Tax Free Savings Accounts Can you have more than one TFSA

Can you have more than one TFSA  
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2:44 pm
July 10, 2009


Jeff

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Hello,

Just curious, can an individual have more than one TFSA with other financial instuition?
If not and you already have more than one, does the penalty apply by paying taxes on the interest earned on the 2nd, 3rd etc. TFSA?

Thank You!

3:35 pm
July 10, 2009


Peter

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Yes, you can have multiple TFSAs at different institutions without penalty as long as the total amount deposited does not exceed the limit (currently $5,000 for 2009).
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