Financial Learning Centre
Registered Accounts
Canada's five major registered accounts — TFSA, RRSP, FHSA, RESP, and RDSP — explained side by side, so choosing between them stops being a guess.
Last reviewed October 2, 2026
Reviewed for accuracy and clarity by Sandeep Singh before publication. Learn about our editorial process.
Canada's registered accounts each do a specific job — tax-free growth, tax-deferred saving, a first home, a child's education, or a disability-related savings plan — and most of the confusion people have about them comes from treating them as interchangeable when they're not.
This section is being built out to cover each account on its own, how they compare to each other, and how a household can actually use more than one at the same time without the overlap getting confusing.
Featured beginner guides
TFSA Over-Contributions: What Happens and How to Fix a Mistake
Over-contributing to a TFSA triggers a 1% per month penalty on the excess amount — charged every month it remains, not once. Here's exactly how the penalty works, the most common way people trigger it by accident, and how to fix it.
5 min read
Registered AccountsFHSA Explained: How Canada's First Home Savings Account Actually Works
The First Home Savings Account combines an RRSP-style tax deduction with TFSA-style tax-free withdrawals — but only if you understand exactly how contribution room, eligibility, and the closing deadline actually work.
8 min read
All Registered Accounts articles
TFSA Over-Contributions: What Happens and How to Fix a Mistake
Over-contributing to a TFSA triggers a 1% per month penalty on the excess amount — charged every month it remains, not once. Here's exactly how the penalty works, the most common way people trigger it by accident, and how to fix it.
5 min read
Registered AccountsFHSA Explained: How Canada's First Home Savings Account Actually Works
The First Home Savings Account combines an RRSP-style tax deduction with TFSA-style tax-free withdrawals — but only if you understand exactly how contribution room, eligibility, and the closing deadline actually work.
8 min read
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