This is our main tax information forum which deals with topics concerning Canadians living and working in the U.S., U.S. citizens contemplating working in Canada, and all aspects of Canadian and U.S. income tax and related adminstrative issues.
I am wondering what is the consequence for not filing a 3250 for TFSA? If I file amended return will the interest earned, will any penalty still apply? The balance is always less than 2000 in my account.
Yes. It is a trust reporting issue, not an income tax reporting issue.
After 20 years, I am severely cutting back on responses. Do not ask specifically for my help. There are a few others on this board that can answer most questions. All the best