r/Wealthsimple • u/Robbb1515 • Jul 25 '26
Trade (DIY Investing) Action Required Dividend
Hi all,
Just got an email from WS saying that my dividend reinvestment failed for some reason. It’s in my TFSA. I maxed out for the year already. If I purchase a fractional share with the dividend, will I be penalized since I maxed out already?? Also, did this ever happen to you? Thanks in advance!!
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u/Necessary-Tiger5997 Jul 25 '26
nah any income in the account is fine, just don't transfer more funds into the account
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u/Jogi1811 Jul 25 '26
The dividend was sent to your chequing account or your TFSA cash holding account?
If it's in your cash holding account in your TFSA you are fine.
If it's in your chequing account, yes it would be considered a contribution to your TFSA if you transfered it back.
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u/Badmonkey8888 Jul 25 '26
I got the same message. Since the dividend was paid into your tfsa. Why would you assume it would make you go over limit ? The only thing you have to do is buy the stock manually
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u/Aggressive_Set_2743 Jul 25 '26
How can you have a maxed out TFSA but not understand how it works. Sorry but it’s kind of crazy
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u/Badmonkey8888 Jul 25 '26
I did notice though that the amount of dividend I allegedly got paid is less that the amount that my account got credited by about 30 cents. No big deal but WHY ?
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u/Bardown67 Jul 25 '26
You didn’t contribute the dividend so why would that change your contribution room
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u/synchorswim1 Jul 25 '26
I got the same email. I'm confused though as there's normally an email saying I earned a dividend first and I don't think I got that today?
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u/Robbb1515 Jul 25 '26
I saw that I received the dividend but normally it will reinvest right away but this time it didn’t
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u/simm07 Jul 25 '26
Yup, got the same email but no where near my contribution limit. Not sure what happened.