TFSA form instructions

How to complete your Vancity Tax-Free Savings Account Application (TFSA) form

Here's some more information to help you open a new Tax-Free Savings Account (TFSA).

A Guide to the TFSA form

Investment Instructions

Deposit Amount:
Please fill in the amount, to a maximum of $5000.

Please select one of the following:

  1. the Variable Rate Investment Savings option (TFSA Jumpstart® High Interest Savings Account) OR
  2. the Term Deposit option (Non-redeemable 1-year term deposit).

See our current interest rates.

Successor Holder and Designated Beneficiaries

As the account holder, you may nominate both a successor holder and beneficiaries. In the event of the death of the account holder, the rights of the successor holder will take precedence over the beneficiaries. You may however wish to nominate beneficiaries as well as the successor holder in the event the successor holder predeceases or dies at the same time as the holder.

Successor Holder Election
On the Vancity TFSA application form you can elect your spouse (the definition of spouse includes common-law partner) as the successor holder of your TFSA.

Designation of Beneficiary(ies)
You can designate up to two beneficiaries. Vancity requires that the proportions of the account is split 50/50 between the beneficiaries.

If you designate your spouse/partner as a beneficiary rather than a successor holder, the spouse will be treated as a beneficiary.

Jumpstart® is a registered trade-mark of Vancouver City Savings Credit Union