RC243, Tax-Free Savings Account (TFSA) Return

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Canada Revenue Agency: RC243 Tax-Free Savings Account (TFSA) Return

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What is RC243?

RC243, Tax-Free Savings Account (TFSA) Return, is a Canada Revenue Agency (CRA) form for an individual who has tax to pay on a TFSA: CRA lists the excess TFSA amount, non-resident contributions, non-qualified investments, and prohibited investments and advantages. Section 2 of the return is the summary of taxes due. This page does not offer a document or an editor.

Schedules

RC243-SCH-A is used to determine the total excess TFSA amounts that are subject to the 1% tax, and RC243-SCH-B applies to contributions made while non-resident.

Filing and signing

CRA says the TFSA return is filed by June 30 of the calendar year after the year the tax applies. The return is signed by the individual, trustee or authorized representative; for downloaded forms that require a signature, CRA says to print the completed form and sign by hand. Get the current form, the mailing addresses and the online submission options from the CRA page for RC243.

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