Tax-free Savings Account (TFSA)
Package - Approval Process
Before filing an
election to register an arrangement as a tax-free savings account (TFSA), the
issuer of the arrangement has to get a TFSA identification number. To get a
number, the issuer has to complete Form RC236 Application for a Tax-free Savings
Account Identification Number and send the form as part of the issuer's
application package to the Registered Plans Directorate at the Canada Revenue
Agency (CRA). The Directorate will review the package to make sure that it is
complete and that it complies with CRA and Income Tax Act requirements.
If Form RC236 is
not complete, the CRA will reject the package and will not assign a TFSA
The issuer can only file an election to register an arrangement
as a TFSA after:
• receiving our approval of their application package; and
• receiving a TFSA identification number.
copy of the document being marketed to holders only needs to be sent to us if we
ask for it.