Income Tax Act

• CRS is aimed at identifying and reporting financial accounts held by foreign tax residents, excluding specified U.S. persons. CRS reporting is solely based on tax residency, not citizenship or nationality and impacts approximately 120 jurisdictions (as of 2025.
• FATCA is aimed at identifying and reporting financial accounts held by specified U.S. persons (which includes U.S. residents and U.S. citizens regardless of their residency).

All financial institutions, including TD, are required to review and update customer information on an ongoing basis under FATCA and CRS regulations. We may request additional information if there are changes to your account, if new regulatory requirements apply, or if the existing information appears incomplete or needs to be verified.

Even though your account is closed, you were identified as a possible foreign tax resident during our review. TD has the obligation to properly document the account even after closure. If you do not provide this documentation upon request, TD may be required to report your account information to the federal tax authority (e.g., the CRA).

Information provided by customers could vary among financial institutions and each financial institution has different business and system processes.

All account holders are required to provide documentation to determine their foreign tax resident status for FATCA CRS purposes. If one or more account holders of a joint account are foreign tax residents, the account may be reportable for FATCA and/or CRS purposes.

Yes, based on the domestic rules of certain countries, an accountholder may be considered a tax resident in more than one country. In that case, accountholders may check whether both countries have a double tax treaty in place, which would attribute the tax residence exclusively to one of the countries.

Customers are recommended to consult with a tax professional for information specific to their situation.

While a Tax Residency Self-Certification Form does not expire, you must notify TD within 30 days of a change in your circumstances of a change that is inconsistent with the Form previously provided.  This would include any of the following circumstances:

• if your tax residency status has changed;
• if the form on file is incomplete or invalid; or
• if there are updated regulatory requirements.

Further, you may be required to provide supporting documentation or a new Tax Residency Self-Certification Form.

A Taxpayer Identification Number (TIN) is an ID number that is used by the federal tax authority (e.g., the CRA).
Examples of TINs include:

• Social Insurance Number (SIN) – nine-digit number in the format "XXX-XXX-XXX".
• Social Security number (SSN) – nine-digit number in the format "XXX-XX-XXXX";
• Individual Taxpayer Identification Number (ITIN) – nine-digit number that begins with the number 9, and the 4th and 5th digits range from 70 to 88, 90 to 92, and 94 to 99;
• Employer Identification Number (EIN), also known as a FEIN (Federal Employer Identification Number) – nine-digit number in the format "XX-XXXXXXX";
• Business Number (BN) – 15-character number: nine digits to identify the business and two letters and four digits to identify each account a business may have;
• Trust Account Number – T followed by 8 digits in the format "T XX-XXXX-XX"

You may find it helpful to contact a tax professional for further guidance. You can also visit the CRA website for additional resources.

For more information on foreign TINs, click here.

For more information on U.S TINs, click here.

You must complete all tax forms independently. If you need additional support, you should refer to a tax advisor for assistance or review the form instructions.

As a sole proprietor, you should complete documentation as an individual for FATCA and CRS purposes.

• Registered Retirement Savings Plans (RRSPs)
• Tax Free Savings Accounts (TFSAs)
• Registered Disability Savings Plans (RDSPs)
• Registered Pension Plans (RPPs)
• Registered Retirement Income Funds (RRIFs)
• Pooled Registered Pension Plans (PRPPs)
• Registered Education Savings Plans (RESPs)
• AgriInvest Accounts
• Deferred Profit-Sharing Plans (DPSPs)
• First Home Savings Account (FHSAs)

FATCA and CRS documentation is completed at the account holder level; therefore, separate forms will be required. TD will clearly state when documentation is required from a customer.

On February 5, 2014, Canada signed an Intergovernmental Agreement (IGA) with the U.S. that requires financial institutions to report accounts held by U.S. persons to the Canada Revenue Agency (CRA). The CRA then shares the information with the IRS under existing tax treaties to protect privacy and limit exposure to punitive withholding taxes. This supports international efforts to prevent tax evasion.

You are considered a U.S. person for U.S. tax purposes and will need to complete an IRS Form W-9 if you are a:

• U.S. entity (e.g. corporation, partnership, trust, or estate);
• U.S. Citizen, regardless of where you normally reside; or
• resident of the U.S. (including a Green Card holder).

If you spend considerable time in the U.S. in one year or over a period of years, you may also be considered a U.S. person. Please visit IRS website or consult a tax advisor.

No. The definition of a U.S person is based on the account holder’s specific situation, rather than the type of account or investment that is held.

You may be considered a U.S. person if you meet the substantial presence test for a U.S. resident for tax purposes. Please visit the IRS website or consult a tax advisor for more information. 

Generally, if you were born in the U.S., you will be considered a U.S. citizen and therefore a U.S. person for FATCA purposes.  However, there are circumstances where an individual born in the U.S. is not considered a U.S. person, such as those who have renounced their U.S. citizenship and have obtained a Certificate of Loss of Nationality issued by the United States Department of State, or those who have lost their citizenship in a manner that meets the requirements prescribed by U.S. law. Additional information may be required to determine non-U.S. status in such circumstances.

All of the following documents must be provided to support renunciation of U.S. citizenship:

• a self-certification (such as a Tax Residency Self-Certification Form or a  Form W-8) showing that the account holder is neither a U.S. resident for tax purposes nor a U.S. citizen; AND
• evidence of the account holder’s citizenship in a country other than the U.S. (i.e., passport or other government-issued identification showing citizenship status); AND
• a copy of the account holder’s Certificate of Loss of Nationality of the United States; or a reasonable explanation of why:
  •  the account holder does not have such a certificate despite having relinquished U.S. citizenship; or
  • the account holder did not obtain U.S. citizenship at birth.

You will be required to provide a self-certification and/or an IRS Form W-8 or W-9. declaring your country(ies) of residence for tax purposes. In some circumstances, you may be required to provide additional documentation (this could include, but is not limited to, government-issued identification) to verify your status for FATCA purposes or a new self-certification if your circumstances have changed.

All financial institutions, including TD, must determine whether an entity account holder(s) is:

• a U.S. person and, if so, whether it is a specified U.S. person;
• a financial institution and, if so, which type of financial institution; or
• a non-financial foreign entity (NFFE) and, if so, whether it is a passive NFFE (for a definition of passive NFFE, please refer to Section 270 (1) Part XIX of the Income Tax Act.

If the account holder is a passive NFFE, the entity must identify the controlling persons (the natural persons who exercise control over the entity) associated with the account. A financial institution must then determine if any controlling persons on the account are U.S. persons.

More information can be found on the CRA website. 

In general, both individuals and entities must provide FATCA documentation when requested, however, certain account types are excluded from these requirements. Please refer to  "What bank products are exempt from FATCA and CRS?" for excluded accounts.

A Global Intermediary Identification Number (GIIN) is a 19-character (including 3 periods used as separators) identification number issued by the IRS to a non-U.S. financial institution when it registers for FATCA purposes.

Please visit the IRS website for more information.

You will be required to complete a self-certification to declare your tax residency. In some circumstances, you may be required to provide additional documentation (this could include, but is not limited to, government-issued identification) or a new self-certification if your circumstances have changed.

Yes, based on the domestic rules of certain countries, an account holder may be considered a tax resident in more than one country. In that case, account holders may check whether both countries have a double tax treaty in place, which would attribute the tax residence exclusively to one of the countries.

Customers are recommended to consult with a tax professional for information specific to their situation.

Yes, a TIN (Taxpayer Identification Number) may not be required for the following reasons:

• the country of tax residence does not issue TINs to its residents;
• the country of tax residence does not require disclosure of a TIN; or
• you are not a resident outside of Canada and the U.S.

If the country(ies) in which you are resident issues TINs to its residents and does not prohibit the disclosure of your TIN, it is your responsibility to provide it to TD upon request; otherwise, you may be subject to fines or penalties by the federal tax authority (e.g., the CRA).

In general, both individuals and entities must complete the Tax Residency Self-Certification Form when requested; however, certain account types are excluded from these requirements. Please refer to "What bank products are exempt from FATCA and CRS?" for bank products that are exempted.

Under the CRS rules, there are scenarios when an entity’s classification for CRS purposes is different from its classification for FATCA purposes.  As such, you are required to provide a CRS classification for an entity even though you may have previously provided a FATCA classification for the entity.

TD will contact you to request this information.