Does splitting a TFSA mean an additional 3520?

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CdnAmerican
Posts: 230
Joined: Tue Aug 30, 2011 12:15 am

Does splitting a TFSA mean an additional 3520?

Post by CdnAmerican » Thu Jun 25, 2020 5:09 pm

I'm a Cdn resident and US citizen. I have a TFSA in a bank, and I've filed 3520/3520A on it for years. I have US stocks in it, though, and when I buy/sell these I take a hit from my bank's exchange rate. I can move my US stocks into a separate TFSA account (basically, the same account number but with a different suffix), though, which would lessen the exchange rate hit. If I do that, would I need to file an additional 3520/3520A? I'm not sure if it's worth the hassle if I do, so I thought I'd ask people here who are smarter than I am ... thanks in advance!
Not a professional opinion.

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