The TFSA Mistake That Cost One Canadian Family $3,600 — Are You Next

Every year, thousands of Canadians contribute to their TFSA correctly — and still receive a CRA penalty letter. In this video we break down the three most common TFSA over-contribution traps in 2026: the CRA My Account reporting lag, the multiple account overlap, and the withdrawal timing rule that catches even organized investors. We walk through real scenarios, show you exactly what the RC243 penalty costs in real dollars, and give you the one call you need to make this week to verify your contribution room before the damage compounds. If you contributed to your TFSA in January 2026 or made a withdrawal at any point in 2025, watch this before you file your return.
📌 Topics covered: TFSA over-contribution rules 2026 — CRA My Account lag explained — RC243 form and how to file — TFSA penalty calculation — how to request CRA penalty relief — TFSA withdrawal and recontribution timing rules — TFSA contribution room across multiple accounts
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⚠️ DISCLAIMER: The information in this video is for educational purposes only and does not constitute financial, tax, or legal advice. All figures and rules referenced are based on publicly available CRA guidelines as of 2026. Individual tax situations vary — consult a qualified financial advisor or tax professional before making any decisions about your registered accounts. Maple Money Talks is not responsible for any actions taken based on the content of this video.
#TFSA #CRA #TFSAOverContribution #RC243 #CanadianPersonalFinance #TaxSeason2026 #RRSP #TFSAPenalty #CRAMyAccount

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