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Email this10:39 pm
October 15, 2015
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I always forget - when does Revenue Canada update the tfsa records in my account. I can't remember if it is february or march.
10:57 pm
February 9, 2019
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They did an upgrade on the system last week end. But no TFSA. I usually wait till the first week of March.
11:00 pm
October 29, 2017
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The CRA gives FIs until the last day of February to submit your transactions for the prior year. It can take the CRA well into March sometimes, to get your info fully processed.
I always keep my own records and deposit the correct amount in January, regardless of the CRA. Haven’t had any problems yet.
EDIT: I like my tax free gains ASAP, I’m not waiting till March.
4:58 am
November 8, 2018
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On January 1st of every year I deposit maximum allowed annual TFSA contribution from my regular savings account to my TFSA.
That makes managing TFSA contributions very easy.
4:59 am
February 24, 2015
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Of several FIs expected by me and spouse, Tangerine is the only one that has posted in 'My Account' so far - a few days ago.
7:36 am
December 17, 2016
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Keeping track of your TFSA account has to be one of the easiest tasks in one's financial world UNLESS they're using the account like a regular chequeing account which, of course, defeats the entire purpose of having a TFSA account in the first place.
8:32 am
October 29, 2017
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Top It Up said
Keeping track of your TFSA account has to be one of the easiest tasks in one's financial world UNLESS they're using the account like a regular chequeing account which, of course, defeats the entire purpose of having a TFSA account in the first place.
For sure. I just type in the amount on my spreadsheet right at the transaction time.
9:22 am
October 15, 2015
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Thanks. I keep track but am always paranoid i made an error.
10:06 am
February 9, 2019
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christinad said
Thanks. I keep track but am always paranoid i made an error.
Me too. I built a very comprehensive spread sheet that tracks deposits, withdrawals and next years allowable contribution. BUT I had an FI that did NOT send my contributions to CRA so my account showed a much higher allowable amount to contribute. All the FI would say is they did transmit and received confirmation. But after numerous attempts to have it corrected I eventually got to the VP and then, finally, they successfully “re transmitted” and a week later My Account was correct. So it is very important to keep your records.
3:45 pm
October 21, 2013
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I would never trust such records solely to a computer, be it mine, the bank's or CRA's. I keep all original docs and keep updated list of deposits etc in safety deposit box.
I would not record next year's contribution room until it is announced by the government. I don't write it in until January, when it becomes real, so as to avoid possible confusion.
If CRA doesn't show it, I wouldn't pursue it. I would just keep my own records and follow the rules. If you pursue it and the FI re-submits, then you run the risk of eventually having it listed twice and giving the impression of an overcontribution if CRA later gets caught up.
It's easy to keep track of if all you ever do is contribute the full amount once annually, never take anything out, and only do direct transfers. But if you do any more than that, it can get complicated very quickly.
9:29 am
March 30, 2017
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Be very careful cuz CRA seems to be way behind on their update to show actual contribution room. My 2017 contribution wasnt updated until last month under My Accounts. Make sure you have an accurate record to calculate contribution room and not rely on CRA website.
9:34 am
February 9, 2019
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Very likely anyone that tracks their TFSA transactions on their own only use My Account to make sure their records and My Account matches. Just to be sure to not have any complications with CRA.
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