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Why do you need my SIN number to open an RRSP or TFSA account?
Why do you need my SIN number to open an RRSP or TFSA account?
A
Written by Adam Rayf
Updated over a week ago

Financial institutions like brokerage firms and banks must collect your SIN before opening a registered account in your name to comply with Canadian federal regulations. This helps ensure that the government receives your correct tax information.

The security of your data is our highest priority. We will never sell your data to third parties. Period. We may share information with our trusted suppliers, who handle your information according to the rules outlined in our Privacy Policy. We will only share this information with our partners if it is essential, such as when we verify your identity or transfer money to and from your accounts.

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