For more information on your TFSA contribution room or to request a TFSA Transaction Summary of your contribution and withdrawal details please contact Canada Revenue Agency. Deliberate over-contributions may also be subject to increased penalty taxes. If the total of your TFSA contributions to all your TFSAs, regardless of financial institution, exceeds your contribution limit, you may face a penalty tax of 1% per month on the highest excess amount for each month that the excess remains in the account(s). You can order new cheque book by calling on08 or by visiting nearest Santander bank account. Canada Revenue Agency will also keep track of your contribution room and determine the balance of available contribution room at a particular time for each eligible individual, based on information provided by CIBC. If you are unsuccessful in resolving the issue, CIBC may be able to work with Visa to request a refund for you.ģ You should keep records of your TFSA transactions to ensure that you do not exceed your TFSA contribution room. To stop payment on these, you need to contact the merchant/biller/payee directly to instruct them to discontinue applying charges to your account(s) through your CIBC Advantage Debit Card. In addition to transaction fee (if applicable).Ģ Excludes stop payments on pre-authorized debits/recurring payments set up using CIBC Advantage Debit Card details.
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