Any individual (not trusts or corporations) who meets all of the following criteria is eligible to open a TFSA:
- Resident of Canada, and
- 18 years of age* or older, and
- Holds a valid social insurance number (SIN).
There is no maximum age limit to open or hold a TFSA and a person may hold more than one TFSA.
* In New Brunswick, Nova Scotia, Newfoundland & Labrador, the Northwest Territories, Yukon and Nunavut, the holder must be 19 years of age or older.
SURNAME, SIN, BIRTHDATE MUST MATCH CRA RECORDS
The CRA will register your TFSA when your surname, SIN and birthdate match the CRA records. If one of these items does not match the CRA records, your TFSA cannot be registered, meaning interest earned on contributions is not tax sheltered.