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

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

July 10, 2009
3:35 pm
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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