If you contribute more than your contribution room, you will be taxed each month by the Canada Revenue Agency (CRA).<a class="Link__link Link__link--emphasis" href="https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/tax-free-savings-account/contributions.html" >Visit the CRA</a> to learn more about TFSA contributions.

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What happens if I contribute more than my contribution room to my Tax-Free Savings Account (TFSA)?

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