Failure to provide information on a return
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Failure to provide information on a return
Anyone who prepares a TFSA annual information return has to make a reasonable effort to get the necessary information, including the SIN or TTN and date of birth of the individual. If you fail to comply with this requirement, you may have to pay a $100 penalty for each offence.
Make sure that the SIN or TTN you enter on each TFSA individual record matches the TFSA holder’s SIN or valid TTN. You must also make sure that the name and date of birth match the information in our records.
Note
A person who does not have a SIN can apply for one at any Service Canada Centre. For more information, see Information Circular IC82-2, Social Insurance Number Legislation that Relates to the Preparation of Information Slips, or visit Service Canada.
If you have to prepare a TFSA annual information return, or if you are an officer, employee, or agent of someone who does, you cannot use or communicate an individual’s SIN or TTN, or allow it to be communicated, other than as required or authorized by law, or for the purpose for which it was provided.
If you use an individual’s SIN/TTN for unauthorized purposes, you may be guilty of an offence and liable, if convicted, to a maximum fine of $5,000 or imprisonment of up to 12 months, or both.
- Date modified:
- 2016-02-05