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  5. ZWK: Can you please tell me if ZWK is ok to hold in your TFSA, since it is US Companies? [BMO Covered Call US Banks ETF]
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Q: Can you please tell me if ZWK is ok to hold in your TFSA, since it is US Companies? Thank you
Asked by Donna on July 24, 2023
5i Research Answer:

In a TFSA, there is no withholding tax efficiency meaning no benefit and regular withholding tax applies. As an alternate, if one was to hold a US-listed ETF with US companies in an RRSP and RRIF, withholding taxes do not apply.