One thought on “Yes, Canadian Residents With US Citizenship Should Consider Canada’s New FHSA (First Home Savings Account)

  1. Fred

    How to know if a particular FHSA account is a “trust” or not?

    For example, the TD FHSA ( opening documents has language like:

    “You hereby request that the Trustee file with the Minister of National Revenue an election to register the qualifying arrangement as a First Home Savings Account (“Account”) under section 146.6 of the Income Tax Act (Canada). You understand that all references in the Account Declaration of Trust to the application are to be read and understood as references to this application. You agree on behalf of yourself, your executors and administrators to be bound by the terms of the Account. All contributions to the Account are to be invested by the Trustee as directed by you in accordance with the terms of the Account and held in your account subject to the terms of the Account.”

    that seems pretty “trusty”.

    Would the Questrade FHSA, since it’s “self-directed”, not be a “trust”? Unfortunately I don’t know what the opening document language is like for that one.


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