Overview

To set up your Wealthsimple profile, you'll need to provide some basic information to verify your identity and ensure your profile is secure. You’ll only need to enter this information once — it will be used for all your Wealthsimple products.

Eligibility requirements

To open an account with Wealthsimple, you must meet the following requirements:

1. Live in Canada as a Canadian citizen or with a valid Canadian Visa
2. Meet the minimum age requirement for your province or territory
3. Have a valid Social Insurance Number (SIN)
4. Have a valid phone number
5. Meet identity verification requirements for non-registered accounts

Information required to fill out your profile

You’ll need a few key pieces of information on hand to fill out your profile:

• Full name
• Email
• SIN
• Date of birth
• Address (and potentially a previous address)
• Phone number
• Employment information

Set up your Wealthsimple profile

Follow these steps to set up your profile:

Once you’ve set up your profile, you can open your first Wealthsimple account.

Overview

Wealthsimple's managed portfolios are designed to help you achieve financial freedom by giving you easy, low-cost and transparent financial tools.

Every time you open a managed portfolio, we’ll help you choose the right portfolio for your investment goals. In the background, we take care of the hard stuff like asset allocation, automatic rebalancing and tax management.

Our managed portfolios work based on the following principles:

1. Diversify your assets
2. Tune out the noise
3. Keep costs low

Diversify your assets

History shows that when you try to predict the future by picking stocks, for example, rather than investing in a highly diversified way, you're more likely to underperform the market.

With our managed portfolios, we don’t try to time or predict the market, but instead hold assets that will perform well at different times. This style of investing results in smoother, more attractive returns over time.

Wealthsimple’s portfolios are designed by an expert team of investors who make sure your portfolio will be resilient across market environments and cycles. We diversify our portfolios across asset classes and geography and have a bias towards higher quality, more resilient assets.

Tune out the noise

When you open a managed account, we’ll ask you about your investment experience, financial circumstances, what you're saving for, and when you need to access your funds.

This helps us customize your portfolio to your specific timeline and risk profile. Our goal is to help you invest your funds in a way that maximizes your chances of making a positive return, while minimizing the chances that you’ll lose money by the time you need to access your funds.

This way, you can tune out the news headlines and weather any bad times knowing that you’ve taken on the right level of risk for your situation and have given yourself the right amount of time to bounce back from any losses.

Keep costs low

While most mutual funds in Canada charge more than 2% a year, our managed portfolios charge between 0.4% to 0.5%. Over the course of many years, these fees can make a huge difference to your returns.

Wealthsimple's managed portfolios are cheaper than mutual funds because we frequently use ETFs to track entire genres of investments. Unlike mutual funds, we aren’t trying to guess individual winners in the stock or bond markets and so our portfolio managers don’t need to make large numbers of trades, and trading is what costs money.

We’ll always choose the right ETF for you given your tax situation, any embedded capital gains you may have, and your account type.

We aim to optimize for withholding taxes within a fund and provide you with the lowest total cost of ownership. For example, we use certain ETFs traded on US exchanges for RRSPs, but use Canadian-listed ETFs for TFSAs.

We also negotiate on your behalf with ETF providers to reduce your management expense ratio fees (MER). You can find more information about our fees here.

Overview

Wealthsimple offers a range of accounts to help you grow your wealth. If you’re not sure which account is right for you, consider reaching out to our support team. They can connect you with our team of fiduciary advisors for help. 

Wealthsimple has registered and non-registered account options:

• Registered accounts are registered with the Canada Revenue Agency (CRA) using your Social Insurance Number (SIN) and often have tax benefits, although they also come with certain restrictions, like contribution limits.
• Non-registered accounts aren't registered with the government and have no contribution limits, or penalties. However, you are taxed on every dollar you earn, including capital gains, interest, and dividends.  

You can open most of these accounts as self-directed or managed accounts:

• Self-directed accounts are accounts for trading stocks and crypto. You can choose the assets you’d like to invest in.
• Managed accounts use a pre-determined investing strategy based on your risk level and timeframe, automatically investing your funds in a portfolio that matches your investment goals.

Accounts offered by Wealthsimple

We offer the following account types at Wealthsimple:

Overview

You can withdraw money from the available balance in your Wealthsimple account at any time. Your available balance includes:

• Unused cash from your deposits, dividends you've earned, and any settled proceeds from sold assets in self-directed accounts.
• 99.5% of the funds in your managed account. The remaining 0.5% is held for any funds needed for upcoming fees.

Make a withdrawal

There are different steps to withdraw funds from different account types. Select an account type below for specific instructions:

• Non-registered (including crypto, chequing, and corporate accounts)
• Tax-Free Savings Account (TFSA)
• First Home Savings Account (FHSA)
• Registered Retirement Savings Plan (RRSP) or spousal RRSP (including Home Buyers' Plan or Lifelong Learning Plan withdrawals)
• Registered Education Savings Plan (RESP)
• Registered Retirement Income Fund
• Life Income Fund (LIF)

Withdrawal timelines

Managed account withdrawal process

Withdrawing funds from a managed account can take up to 4-6 business days to complete. Review the timeline below:

Days 1 to 3
We sell investments in your account to generate cash for your withdrawal. The value of your account may change as the value of your investments could increase or decrease before they're sold.

Days 4
We hold your funds for a 1 day settlement period. This is a requirement from the Canadian government and is a mandatory step for all financial institutions.

Days 5 to 6
We send the funds to your bank, and they deposit them into your bank account.

Overview

To deposit funds, you need to link a Canadian chequing or savings account. We use Flinks, Plaid, or Wealthica to securely request your online banking information. Or, you can choose a different funding method.

Bank linking limitations

• You can't link:
  • investment accounts,
  • line of credit or credit card accounts, or
  • accounts you don't own (you can't link a family member's account)
• You can only link a corporate account if you have a Wealthsimple Business account open.
• You must upgrade to USD accounts to link a USD bank account held at a Canadian bank.
• You can't link the following types of bank accounts:
  • Scotiabank: Momentum Plus Savings, 90 Day Premium Period, and 180 day Premium Period accounts
  • EQ Bank: Notice Savings Account (30 Day)
  • RBC: Find & Save
  • Caisse Desjardins Ontario: Savings Account
  • Simplii Financial: USD Savings Account
  • USD bank accounts held at a Canadian credit union

How to link your bank account

To deposit funds, you need to link a Canadian chequing or savings account. We use Flinks, Plaid, or Wealthica to request your online banking information securely, or you can link your account manually.

Alternatively, you can choose a different funding method.

Troubleshooting

Try our troubleshooting tips for bank linking issues.

Different funding methods

You can use alternative methods to fund your account:

• Interac e-Transfer®
• VISA or Mastercard debit
• Set up a direct deposit

These options are available if you don't want to use Flinks, Plaid, or Wealthica, or if we don't support linking your bank yet.

Related articles:

• Make a deposit from a linked bank account
• Link a corporate bank account
• Upgrade to USD accounts
• Update your external bank account's nickname

Overview

You can send and receive money from anyone who also has a Wealthsimple chequing account. Chequing accounts come with the Pay your friends with Wealthsimple feature that allows you to effortlessly send and request money.

Wealthsimple vs Interac e-Transfer®

Interac e-Transfer transactions and Pay your friends with Wealthsimple transfers are two methods to send and receive money with others. Check out the features of each method below to compare them:

Send money to your friends

With your chequing account, you can send and request money from others without paying any fees. 

To send money to friends, follow these steps:

1. Log in to your Wealthsimple mobile app
2. Tap your chequing account
3. Choose Pay friends
4. Tap Send money
5. Search (either by name, $ign, or phone number)
6. Select a contact
7. Confirm with the recipient that you have their correct $handle
8. Enter an amount that you wish to send and tap Next
9. Add an emoticon or write a message
10. Swipe up to send to your contact

Any money you send will be auto-deposited into your receiver's chequing account.

Request money from your friends

You can request money from friends who have a Wealthsimple handle through the mobile app:

1. Log in to your Wealthsimple mobile app
2. Tap your chequing account
3. Select Pay friends
4. Tap Request money
5. Search (either by name, $ign, or phone number)
6. Select a contact
7. Enter the amount you wish to request and tap Next
8. Tap Request from [contact]
9. Your contact will then be notified about the request

Sending limits

Your chequing account has daily, weekly, and monthly sending limits. We won't complete any transactions that go over your sending limit.

Remove a contact after sending them funds

It is not possible to remove a specific Wealthsimple contact. To remove an Interac e-Transfer contact, follow these instructions.

Overview

Once you've linked your bank account, you can make a deposit in Canadian dollars from any chequing or savings account with a Canadian bank into Wealthsimple. If you've upgraded to USD accounts, you can also make a USD deposit into a self-directed account from a USD bank account.

You can also add funds to your Wealthsimple accounts by

• wire transfer,
• Interac e-Transfer®,
• moving funds from your Wealthsimple chequing account, or
• by connecting your Visa or Mastercard debit card.

Deposit limits

Review the maximum daily and transaction limits for Canadian Dollar (CAD) and United States Dollar (USD) deposits below. Deposit limits are shared across all of your Wealthsimple accounts.

CAD deposit limits

You can deposit

• up to $1,000,000 CAD daily
• up to $1,000,000 CAD per transaction

USD deposit limits

You can deposit

• up to $1,000,000 USD daily
• up to $1,000,000 USD per transaction

How to make a deposit

To make a deposit, follow the steps below:

Deposit availability timelines

Select an account type to learn when your deposit will be available:

• Managed investing
• Chequing
• Self-directed investing
• Crypto

Managed investing

Deposits into managed investing accounts are automatically invested for you within 5 business days. After you deposit money, you need to wait before you can withdraw it or move a recent deposit to other accounts. This waiting period is usually up to 5 business days, but can sometimes be up to 7 business days.

You'll know a deposit is complete when you see your funds in your available to withdraw balance. You can view your available to withdraw balance when you initiate a withdrawal. 

Chequing

Instant deposits

Amounts deposited within your instant deposit limit are available for you to send, spend, withdraw, and transfer immediately.

Standard deposits

If you go over your instant deposit limit, any deposit you make will be a standard deposit until your instant deposit limit resets. You'll be able to use your money after a waiting period, usually up to 5 business days, but sometimes up to 7 business days.

Auto-deposits

Automatic, recurring deposits into your Wealthsimple account within your instant deposit limit are available to spend or send instantly. For amounts over your instant deposit limit, you'll need to wait before you can use a recent deposit. This waiting period is usually up to 5 business days, but can sometimes be up to 7 business days.

Self-directed investing

Instant deposits

Amounts deposited within your instant deposit limit are available for you to trade immediately. You'll need to wait before you can withdraw or move these funds to other accounts. This waiting period is usually up to 5 business days, but can sometimes be up to 7 business days.

Standard deposits

If you go over your instant deposit limit, any deposit you make will be a standard deposit until your instant deposit limit resets. You'll be able to use your money after a waiting period, usually up to 5 business days, but sometimes up to 7 business days.

Auto-deposits

Automatic, recurring deposits into your Wealthsimple account within your instant deposit limit are available to trade instantly. For amounts over your instant deposit limit, you'll need to wait before you can use a recent deposit. This waiting period is usually up to 5 business days, but can sometimes be up to 7 business days.

Crypto

Instant deposits

Amounts deposited within your instant deposit limit are available for you to trade immediately.

Standard deposits

If you go over your instant deposit limit, any deposit you make will be a standard deposit until your instant deposit limit resets. You'll be able to use your money after a waiting period, usually up to 5 business days, but sometimes up to 7 business days.

Auto-deposits

Automatic, recurring deposits into your Wealthsimple account within your instant deposit limit are available to trade instantly. For amounts over your instant deposit limit, you'll need to wait before you can use a recent deposit. This waiting period is usually up to 5 business days, but can sometimes be up to 7 business days.

Overview

You can deposit crypto into your Wealthsimple account from an external wallet. It's crucial to understand a few things before sending crypto to your Wealthsimple account:

• Supported assets and networks: We only support deposits for specific crypto assets and through specific networks. If you send an asset that isn't supported, or use an unsupported network (any network not listed in the table below, including the default network displayed when withdrawing from Binance or the Binance Smart Chain), we may not be able to recover your assets. We can't guarantee if specific crypto assets will be available for wallet deposits in the future.
   
• Deposit address and memo: Each crypto asset has its own unique deposit address, and some also require a memo (or destination tag). You must use the correct address and include the memo if required; otherwise, your funds could be lost.
   
• Irreversible deposits: Crypto deposits are irreversible. Wealthsimple isn't legally obligated to recover improperly or mistakenly deposited assets. Always double-check the instructions and details before submitting your deposit. We recommend testing a small amount first to ensure it ends up at the right address.
   
• Minimum deposit: There's a minimum deposit of at least 0.000001 per asset for it to appear in your Wealthsimple account.
   
• Deposit limits: There are no limits on crypto deposits. You can deposit as much crypto as you'd like.
   
• Withdrawal limits: While there aren't any limits on crypto deposits, crypto withdrawals do have daily and weekly limits.
   
• Average price adjustments: We'll record the book value of your crypto deposit based on the fair market value at the time the transfer is completed. This will change your overall average price for that coin. We can't change the book value to match your original purchase price on another platform.
   
• Supported currencies: You can deposit crypto in either CAD or USD. Please note that an active USD accounts subscription is required.

Supported crypto for deposits

To see the most up-to-date list of supported crypto assets you can deposit, follow these steps in the Wealthsimple app:

1. Log in to the Wealthsimple app
2. Tap the Move tab
3. Under Transfer assets, tap Receive crypto
4. Tap Receive
5. Review the list of supported crypto

You can also refer to our list of supported crypto for deposits, which includes the number of confirmations, estimated completion time, and supported networks.

How to deposit crypto into your Wealthsimple account

When you deposit crypto into your Wealthsimple account, you're moving crypto assets from a wallet outside of Wealthsimple. Most of the steps you'll take will happen in the external wallet you're withdrawing from.

During the withdrawal process from your external wallet, you'll be asked to enter a deposit address. This is a unique string of letters and numbers that identifies your Wealthsimple account for that specific crypto asset. Each type of crypto asset in your account has its own deposit address. For example, your Bitcoin deposit address is different from your Ethereum Mainnet deposit address.

Find your deposit address

Follow the steps below to find your deposit address:

Memo-based deposits

A memo is a unique code (sometimes called a destination tag) that identifies your specific deposit. The following cryptocurrencies require a memo to direct the funds to the correct account:

• Celestia (TIA)
• dYdX ( DYDX)
• Hedera (HBAR)
• Stellar (XLM)
• The Open Network (TON)
• XRP Ledge (XRP)

When you deposit one of these coins, you'll see a memo code with your crypto deposit address. You must enter this memo when you send the funds.

Transfer timelines and fees

Transfer fees

Crypto networks charge a fee to process transactions, often called a gas or miner fee. This fee can vary by hour, by day, and by transfer amounts. Your external wallet will inform you how much you need to pay to complete the transfer. Wealthsimple has no control over these fees. You'll need to check the transaction details using a block explorer link (like an Etherscan link) provided by your external wallet.

Transfer timeline

Your transfer will go through a series of confirmations in the network before it’s considered complete. In your activity details, we’ll provide you with a link to track the progress of your transfer in real-time. We don't control the speed at which transfers are processed, as it depends on network congestion and the specific crypto asset. However, you can find general estimates below.

Detailed list of supported crypto for deposits

You can deposit any of the following crypto coins into your account from an external wallet:

Overview

Wealthsimple offers a platform for buying and selling a variety of cryptocurrencies. Continue below for a comprehensive list of the crypto coins currently available through Wealthsimple. For detailed information on each token, including background, definitions, and risk statements, please refer to the specific resources linked below.

Available crypto

Overview

You can buy or sell stocks and ETFs in a self-directed investing account as long as they meet our eligibility criteria. The stock or ETF must meet the following criteria:

• The asset is on an exchange we support.
• The asset meets our settlement or average daily volume requirements.
• The asset isn't delisted, suspended, or halted.

Why isn't a stock or ETF available?

A stock or ETF might be unavailable for the following reasons:

We don't support the type of security

We only support stocks and ETFs in self-directed investing accounts. We don't support any other assets in self-directed investing accounts, including:

• Mutual funds
• Guaranteed investment certificates (GICs)
• Preferred shares
• Forwards and futures
• Rights and warrants
• Bonds
• Investment savings accounts and money markets
• Stocks and ETFs that trade on non-North American exchanges

This security isn’t listed on a supported exchange

The asset may be listed on an exchange we don't support. We currently support major exchanges, including:

• Toronto Stock Exchange (TSX)
• TSX Venture Exchange (TSXV)
• New York Stock Exchange (NYSE)
• NASDAQ
• NEO
• Canadian Securities Exchange (CSE)
• BATS Exchange

If the security you're looking for is listed on another exchange or is an unsupported over-the-counter (OTC) security, it may not be available.

If the security is listed on both a US exchange and a Canadian exchange, we will only support the security listed on the Canadian exchange.

This security may not meet our settlement or average daily trading volume requirements

The asset may not meet our settlement requirements with the Canadian Depository for Securities (CDS) or the Depository Trust Company (DTC). Additionally, we have minimum price and volume constraints for stocks.

The security is delisted, suspended, or halted

In most cases, you can’t submit orders for securities that are delisted or suspended. You can submit orders for securities that are halted, however, they won't be filled until trading resumes.

If you own a delisted stock or ETF within your self-directed investing account, you have the following options:

• Continue holding the shares in your account with the hope that the security eventually gets re-listed.
• Sell your shares by submitting a limit order for the security that has been delisted. Follow the steps in this article to learn how to place a limit order.
• Request to remove and write off the delisted security. Please contact our support team to confirm if the security is eligible for the removal process. 

Request a new stock or ETF

If you'd like to request a stock or ETF that's not currently available, you can add it to our feedback survey. Requesting a stock or ETF doesn't guarantee it'll become available to trade.

Overview

Before you can start spending with your physical Wealthsimple prepaid Mastercard, you'll need to activate it and add funds to your account. 

If you don't have a physical Wealthsimple prepaid Mastercard yet, you can request one using the Wealthsimple app.

How to activate your physical prepaid Mastercard

To activate your prepaid Mastercard directly from your app, follow these steps:

1. Log in to your Wealthsimple mobile app
2. Tap your chequing account
3. Tap the card icon at the top right of your screen and swipe to the left to navigate to your Physical card settings
4. Select Activate your card
5. Tap Get started
6. Enter your card's Expiry date and CVV
7. Create a 4-digit PIN, confirm your PIN and then tap Set up your PIN
8. Your physical Wealthsimple card will then be activated

To activate your prepaid Mastercard over the phone, follow these steps: 

1. Call +1 877-868-0854 to activate your card and set your PIN
2. Add funds to your account if you haven't already
3. Sync your PIN by using your physical card in person

Syncing your PIN

After setting up your Wealthsimple prepaid Mastercard PIN for your physical card, you'll also need to sync it.

You can easily and securely manage your Wealthsimple Prepaid Mastercard PIN in the Wealthsimple app. Follow these steps to ensure your PIN works correctly at payment terminals and ATMs.

1. Insert your card to make a purchase or withdraw money from an ATM.
2. Enter your new PIN. If the card reader says that your PIN failed, enter it 3 more times. This is normal.
3. Your new PIN will be synced.

Overview

The Wealthsimple prepaid Mastercard lets you spend funds from your Wealthsimple chequing account. It's a prepaid Mastercard, so you'll need to fund your account before making purchases. You can use it anywhere Mastercard is accepted.

To use your prepaid Mastercard at a terminal or ATM:

• To make a purchase, insert or tap your card at a terminal and select credit.
• To withdraw from an ATM, select chequing.

Fees for using the Wealthsimple prepaid Mastercard

Wealthsimple doesn't charge fees for using the prepaid Mastercard, including foreign transaction fees.

However, third parties might charge the following:

• Currency conversion rate: When you use your prepaid Mastercard for international purchases, the payment network will determine the currency conversion rate. This rate may vary between the time of authorization and settlement. For an estimate, you can use this currency conversion fee calculator.
• ATM withdrawal fee: ATM providers might charge a withdrawal fee (usually about $3.00). This fee is charged by the ATM provider and not by Wealthsimple. Learn more about our ATM fee reimbursement policy.

Spending limits

Below are the spending limits associated with your Wealthsimple prepaid Mastercard:

Switch which chequing account you can spend from

You can spend from any individual or joint chequing account by switching which account is spendable in the Wealthsimple mobile app. You can switch your spendable account once every 24 hours.

To switch which account is spendable:

1. Sign in to the Wealthsimple app on your mobile device
2. Tap your chequing account
3. Tap the Settings (gear) icon in the top-right corner
4. Under Settings, tap Spending
5. Choose which account you want to spend from
6. Tap Confirm to save your changes

Online purchase authentication

In some cases, we’ll ask you to verify your identity before completing an online purchase. When this happens, we’ll instruct you to enter a 6 digit secure code that you receive by email or mobile device.

If you receive an unexpected text or email

Check if you’ve shared your card number with someone who might be making an online purchase. If you haven’t shared your card number with anyone, you should:

1. Lock your card.
2. Follow the steps to request a replacement card in the Wealthsimple app.

Refunds

Merchants process refunds, not Wealthsimple. After the merchant confirms your refund, it usually takes 5-7 business days to appear in your chequing account. Wealthsimple can't provide updates on pending refunds, but the funds will be available as soon as we receive them.

Frequently asked questions

Overview

As of October 1, 2025, the Wealthsimple prepaid Mastercard is a 0% cash back card. The last day to earn 1% cash back was September 30, 2025. You’ll receive your final cash back payout within 7 business days of November 1, 2025.

View your historical cash back earnings

You can view your historical cash back earnings directly from your Wealthsimple app.

1. Log in to your Wealthsimple app
2. Swipe right or tap the Spend tab
3. Tap the chequing account linked to your prepaid Mastercard
4. Scroll down to Activity
5. Tap View all
6. Tap the Filter icon in the top right corner
7. Choose Type from the menu
8. Select Refunds and reimbursements
9. Tap Done
10. Review your historical Cash back activities

Terms and conditions

1% cash back

The Wealthsimple Prepaid Mastercard 1% cash back promotional offer (the "Offer") is valid for new and existing users of the Wealthsimple Prepaid Mastercard ("Card"). The 1% earn rate, which may be subject to change, applies to all transactions made prior to October 1, 2025, less refunds and excluding cash-like transactions, any applicable fees and adjustments ("Qualified Spend").

Cash back credits are earned on net purchases only and pay out will occur within 7 business days of the 1st of the following month after the Qualified Spend transaction.

You can also choose to earn stock and Crypto rewards back.

Wealthsimple Payments Inc. ("Wealthsimple") reserves the right to amend, withdraw or restrict the Offer at any time without notice. Wealthsimple is the sole arbiter of these rules, the calculation of Qualifying Spend, and any other issue arising in connection with the Offer. If Wealthsimple suspects fraudulent or abusive behaviour, gaming of the system or a violation of these terms, Wealthsimple reserves the right to remove all promotions from the applicable Wealthsimple chequing account and take any other action it deems appropriate including, but not limited to, closing the applicable Wealthsimple chequing account. An invitation to participate in this Offer does not provide assurance that the referred customer will be accepted as a customer of Wealthsimple. This offer is only valid for individuals in Canada that otherwise meet Wealthsimple's eligibility requirements. Wealthsimple's standard terms (https://www.wealthsimple.com/en-ca/legal/terms) relating to your use of Wealthsimple and any agreements that apply to the Wealthsimple chequing account each apply and are not affected in any way by this Offer.

Wealthsimple chequing accounts

Wealthsimple chequing accounts are offered by Wealthsimple Investments Inc. (“WSII”), a member of the Canadian Investment Regulatory Organization (“CIRO”), and Wealthsimple Payments Inc. (“WSP”), a FINTRAC registered money services business. WSP has appointed WSII as its agent to perform certain payment activities offered through the chequing account(s). The funds added to chequing account(s) (the “Funds”) are ultimately held securely in trust in the name of the primary account holder with a single or multiple members of the Canada Deposit Insurance Corporation (“CDIC”). CDIC protects eligible deposits held at CDIC member institutions in case of a member institution’s failure. WSP and WSII are not CDIC member institutions. Under the trust framework, CDIC insures eligible cash balances up to $100,000 per beneficiary, per member institution, provided certain disclosure rules are met. Coverage is free and automatic. Learn more about how CDIC protection works. Funds must be spread across at least 10 CDIC member institutions in order for up to $1,000,000 in deposits to benefit from applicable CDIC coverage. The advertised interest rate for the chequing account is derived from interest earned by Wealthsimple on the funds. The rates are annualized rates, calculated daily, and paid monthly. Subject to change. For more information see here. The Funds are settled with any CDIC member(s) one business day following the date that Funds are reflected in the Account.

The Wealthsimple Prepaid Mastercard® (the “Card”) is issued by KOHO Financial Inc. pursuant to license by Mastercard International Incorporated. All terms applicable to the Card and all applicable fees and transaction limits with respect to the Card and the services may be found in the Wealthsimple Cardholder Agreement between you and KOHO Financial Inc. Mastercard and the circles design are registered trademarks of Mastercard International Incorporated.

This guide helps you get ready for the 2025 tax season. Here's what you need to know:

• Tax slip availability and timing
• Automatic tax information import
• Registered account contributions
• Reporting investment gains or losses
• Provincial and territorial resources
• Start your journey with confidence

Tax slip timing

Common tax slips and their release dates:

• T3/RL-16: By March 31, 2026
• T4/RL-1: By March 2, 2026
• T4A/RL-2: By March 2, 2026
• T5/RL-3: By March 2, 2026
• T5007/RL-5: By February 28, 2026
• T5008/RL-18: By February 28, 2026

Québec residents receive both T and RL slips.

Automatic tax information import

Save time by importing information from:

• CRA Auto-fill
• Revenu Québec (for Québec residents)

Registered account contributions

Report contributions for:

Registered Retirement Savings Plan (RRSP)

Report RRSP contributions to potentially lower your taxable income.

You may receive two contribution receipts:

1. For March-December of the tax year
2. For January-March of the following year

Report contributions made in the first 60 days of the current year on the previous year's tax return. You can claim these on the previous year's return or carry them forward to the current year.

Learn about RRSP contributions

Use our RRSP calculator

Remember to report:

• Lifelong Learning Plan payments
• Home Buyer's Plan payments

Learn how to carry forward RRSP contributions

Note: For Spousal RRSPs, the contributor claims the contributions.

First Home Savings Account (FHSA)

Report FHSA contributions to potentially lower your taxable income. You can claim contributions as a deduction or carry them forward.

Tax-Free Savings Account (TFSA)

TFSA contributions are not reported on your tax return. Your financial institution reports to the CRA or Revenu Québec annually.

Learn about TFSA contributions

Reporting investment activity

For non-registered accounts, report your gains, losses, and other income earned. Non-registered accounts include:

• Personal accounts
• Joint accounts
• Save or Joint Save accounts
• Crypto accounts
• Save for business accounts
• Invest for business accounts

Download your tax slips from Wealthsimple

Capital gains

When you sell a security for profit:

• 50% of realized capital gains are taxed at your marginal tax rate
• You'll receive a T5008/RL-18 to report capital gains
• Report your ACB (adjusted cost base) using T5008 information

Investment income

Report interest earned or dividends received in non-registered accounts:

• Over $50: You'll receive a T5 (and RL-3 in Québec)
• Under $50: No slip issued, but you still need to report it on your return

Crypto gains and losses

Learn how to report cryptocurrency activity
Understand cryptocurrency gains and losses reporting

Provincial and territorial resources

We have collected information specific to each province or territory below:

Start your tax journey with confidence

Wealthsimple Tax is here to simplify your tax filing experience. Our user-friendly platform and automatic import features save you time and help maximize your refund.

Ready to take control of your taxes?

• Get started with Wealthsimple Tax and file with ease
• Explore our comprehensive tax help centre articles for in-depth information
• Book a session with our tax experts for personalized advice

Remember, our support team is always here to help you navigate your tax journey.

Related articles

• Access and file taxes for previous years

Overview

You can update your personal information and settings in your profile. Some updates, like email, phone number, and address, can be done directly. Other updates, like legal name or SIN, may require contacting our support team or providing documentation.

Update your personal and contact information

You can update the following personal and contact information:

• Preferred name
• Gender
• Marital status
• Phone number
• Mailing and residential address
• Employment information

Follow these steps to update this information:

Update your identity information

You can update the following identify information:

• Legal name
• Date of birth
• Citizenship
• Tax residency
• SIN

Update your personal identifying information through the app

Follow these steps to update your personal identifying information:

1. Sign in to the Wealthsimple app on your mobile device
2. Tap the Profile icon in the top right corner
3. Tap the Settings (gear) icon in the top right corner
4. Choose Personal information from the menu
5. Tap the pen icon beside Name, date of birth, SIN
6. Tap Edit
7. Edit all field(s) that need updating
8. Tap Save changes
9. Follow the prompts to upload the necessary supporting documents
10. Our team will then begin reviewing the updates

Update review process

We'll notify you via email and push notification (if enabled) when we've reviewed the update.

If we accept the update, you'll receive a prompt to sign your updated agreements in the Wealthsimple app to complete the change. This process can take up to 5 business days. 

If we reject the update for any reason, we’ll let you know why. You can follow the steps above to redo the process with the necessary changes.

Sign your updated agreements

Follow the steps below to sign your new agreements:

1. Sign in to the Wealthsimple app on your mobile device
2. Tap the Profile icon in the top right corner
3. Tap the Settings (gear) icon in the top right corner
4. Choose Personal information from the menu
5. Select the green banner at the top of the screen, prompting you to sign new agreements due to your recent changes

Update your language settings

Follow these steps to change your language settings:

Overview

In this article, you'll find all the deadlines for the upcoming 2025 tax season. You can also find out when to expect each tax document.

Key details for contribution transactions

Here are some key details to keep in mind when you make contributions to registered accounts:

• We must receive deposits with the status marked as completed in the account before the deadline for the transaction to count toward your 2025 contributions.
  • To move funds instantly, you can transfer funds within the instant deposit limit of any chequing account to another Wealthsimple account. 
     
• We must receive Interac e-Transfer® transactions with the status marked as completed in the destination account before the deadline for the transaction to count toward your 2025 contributions.
   
• Rejected deposits don't count toward your 2025 contributions.
  • To ensure your deposit isn't rejected, make sure you have enough funds in your relinquishing bank account to cover the total of your deposit before you submit it.
     
• If you make a transaction after a deadline has passed, we can't guarantee the transaction will count towards your 2025 contributions.

Important deadlines for the 2025 tax season

Use the deadlines below to make sure your transaction processes in time to meet Canada Revenue Agency deadlines:

When to expect each tax slip for the 2025 tax season