Hi everyone,
Just wondered if anyone had ever made contributions to their TFSA after expiry of their SIN, and then had issues later on down the line?
In particular, I'm curious about contributions made after expiry of temporary SINs which begin with the digit 9.
Here's the thing...
My temporary SIN expired a few days ago, and I've just realized that I have very small AWD which comes out of my chequing account and goes into my TFSA with my bank, to purchase mutual fund units.
I've tried looking everywhere that I can think of (CRA website included), and can only seem to find information which says you need a valid SIN to open a TFSA, but nothing about making contributions after a SIN has expired. I tried to call CRA to get some clarification, but couldn't get past the pre-recordings (which, also only say you need a valid SIN to open a TFSA).
Now, I know very well that there are also residency requirements for a TFSA, above and beyond just having had a valid SIN, but I'm pretty sure I comfortably meet the requirements of being resident for tax purposes, which is what I'm hoping will be what qualifies me to continue to be able to make contributions.
Shortly before the expiry of my work permit a few days ago, I applied to stay in Canada for a while longer on visitor status, so still have all of the same residential and financial (institution) ties that I did before my permit expired.
If I understand correctly, if/once I get a new work permit, I can just go to Service Ontario to renew my expired SIN, and they would just give me the exact same SIN again, except with an expiry date matching my new permit?
Hopefully, I have nothing to worry about, as I think it can take a few business days to cancel an AWD.
Any thoughts/insight appreciated.
Cheers!
Just wondered if anyone had ever made contributions to their TFSA after expiry of their SIN, and then had issues later on down the line?
In particular, I'm curious about contributions made after expiry of temporary SINs which begin with the digit 9.
Here's the thing...
My temporary SIN expired a few days ago, and I've just realized that I have very small AWD which comes out of my chequing account and goes into my TFSA with my bank, to purchase mutual fund units.
I've tried looking everywhere that I can think of (CRA website included), and can only seem to find information which says you need a valid SIN to open a TFSA, but nothing about making contributions after a SIN has expired. I tried to call CRA to get some clarification, but couldn't get past the pre-recordings (which, also only say you need a valid SIN to open a TFSA).
Now, I know very well that there are also residency requirements for a TFSA, above and beyond just having had a valid SIN, but I'm pretty sure I comfortably meet the requirements of being resident for tax purposes, which is what I'm hoping will be what qualifies me to continue to be able to make contributions.
Shortly before the expiry of my work permit a few days ago, I applied to stay in Canada for a while longer on visitor status, so still have all of the same residential and financial (institution) ties that I did before my permit expired.
If I understand correctly, if/once I get a new work permit, I can just go to Service Ontario to renew my expired SIN, and they would just give me the exact same SIN again, except with an expiry date matching my new permit?
Hopefully, I have nothing to worry about, as I think it can take a few business days to cancel an AWD.
Any thoughts/insight appreciated.
Cheers!
