Newcomer first-month money checklist for Canada: SIN, bank account, benefits and your first tax return
The first weeks in a new country are a blur of forms. Money mistakes made now tend to stick: an account with a fee you never needed, a benefit you did not know to apply for, a first tax return filed late so payments stop. This checklist follows the order the CRA, Service Canada and FCAC describe, with a timeline tool that turns your arrival date into real deadlines.
On this page
Your first-year timeline
Turn your arrival date into deadlines
Based on the CRA's Newcomers to Canada page (modified August 3, 2026): residency usually starts the first day you live in Canada; first return due April 30 of the following year, June 15 if self-employed; temporary residents can get the CCB from the 19th month in Canada with a valid permit. "Up to" figures are the CRA's yearly maximums (CCB $7,997 per child under 6, $6,748 per child 6 to 17; CGEB $679 single, $890 couple plus $234 per child); your actual amount depends on family net income and is calculated by the CRA. Single parents: see our CGEB guide for the amount.
Week one: SIN and bank account
1. Get your Social Insurance Number. The CRA says you need a SIN to get benefit and credit payments, to work in Canada, and for most types of bank accounts. Apply with Service Canada. If Service Canada cannot issue you one, you can get a temporary tax number from the CRA by applying for benefits or filing a return without a SIN and attaching a letter that explains why. Protect it; a stolen SIN can lead to identity theft and lost benefits.
One nuance: Service Canada says a bank only needs your SIN for accounts that earn income, like interest. A basic chequing account that pays nothing does not legally require it. Details in do you need a SIN to open a bank account.
2. Open a bank account. FCAC says you need original ID: two documents (one with your name and address, one with your name and date of birth), or one with your name and date of birth plus someone in good standing who confirms who you are. No job or deposit is needed. Our bank account ID checker tells you which option you meet before you go.
Ask for the no-cost account by name. Banks that signed the federal Commitment on Low-Cost and No-Cost Accounts offer it to newcomers in their first year in Canada. A typical $16.95 a month package costs $203.40 a year; the no-cost account costs $0.
Weeks two to four: apply for benefits
The CRA is clear that newcomers can apply for benefit and credit payments, including related provincial payments, as soon as they arrive, before doing taxes for the first time. Only one application per household is needed.
| Your situation | Form | What it covers |
|---|---|---|
| New resident, no children | RC151 web form | Canada Groceries and Essentials Benefit (CGEB), formerly the GST/HST credit |
| Children under 19, not eligible for CCB | RC151 PDF, mailed with proof of birth | CGEB, with the children registered |
| Eligible for the Canada child benefit | RC66 (with RC66SCH) | CCB and related provincial child benefits, and the CGEB |
The CGEB is a tax-free quarterly payment for low and modest incomes: up to $679 a year for an eligible single person, and up to $1,358 for a couple with two children under 19. The CCB is monthly and tax-free: up to $7,997 a year per child under 6 and up to $6,748 per child aged 6 to 17. Both depend on family income, and some provinces pay their own benefits through the same application. Our CGEB guide breaks the amounts down and benefit payment dates lists when money lands.
Temporary residents: the CCB can start in the 19th month you have lived in Canada, with a valid permit. Send the CRA your renewed permit before the old one expires; if it lapses, payments stop. If you applied to extend before expiry and are waiting, you have maintained status.
Report your income from before you arrived
The CRA asks for your income from all sources for up to two years before you became a resident, for you and your spouse or partner, even if it was zero. It uses this Statement of Income to calculate benefits right away. Convert each amount to Canadian dollars using the Bank of Canada exchange rate on the date you received it. The good news: the CRA says income you earned outside Canada before becoming a resident is not taxed in Canada.
Your first tax return
You do not file until the year after you become a resident. The CRA's own example: arrive in 2025, and your 2025 return is due April 30, 2026. If you or your spouse are self-employed, the filing deadline is June 15. In Quebec you also file a provincial return with Revenu Quebec.
File every year, even with no income. The CRA uses your return to calculate benefits, so a missed return is the most common reason payments stop. Keep slips and receipts for at least six years. If you start working, our guide to first paycheque deductions explains the CPP, EI and tax lines; students should read international student taxes.
Start a Canadian credit file
FCAC says Canada's two credit bureaus, Equifax and TransUnion, only collect information about your credit activity in Canada. Some lenders may look at your history from another country if you provide it, so ask. Otherwise you are starting fresh. A common first step is one small card, often a secured credit card, used lightly and paid in full every month.
Worked example
Priya and Arjun land as permanent residents on October 15, 2026 with children aged 4 and 8. Neither is self-employed.
| Item | Rule | Their date or amount |
|---|---|---|
| Tax residency starts | First day living in Canada, for most newcomers | Oct 15, 2026 |
| Benefit form | Eligible for CCB, so RC66, which also covers the CGEB | Apply now |
| CCB, yearly maximum | $7,997 + $6,748 | up to $14,745 |
| CGEB, yearly maximum | $890 + (2 x $234) | up to $1,358 |
| First returns (both spouses) | April 30 of the year after arrival | April 30, 2027 |
| No-cost bank account window | First year in Canada | to about Oct 15, 2027 |
The actual payments depend on their family net income, including the income they report from the two years before arrival. Now compare Mei, who arrives the same day on a work permit with a 3-year-old: her CCB can start in her 19th month in Canada, which is April 2028, as long as her permit stays valid. She can still apply for the CGEB with the RC151 form right away.
Five first-month traps
- Accepting the first account offered. Ask for the no-cost newcomer account; the package shown first often has a monthly fee.
- Waiting for your first tax return to apply for benefits. You can apply on arrival.
- Funding transfers home with a credit card. It can count as a cash advance. See international money transfer fees for the real cost.
- Letting a permit lapse without telling the CRA. Payments stop.
- Trusting a call from "the CRA" that demands payment. The CRA warns about scammers; check your information in My Account or call the CRA yourself.
Looni's newcomer hub and the tools page have more calculators for your first year.
How to set up your money in your first month in Canada
- Apply for your Social Insurance Number with Service Canada.
- Open a bank account with original ID and ask for the no-cost account for first-year newcomers.
- Apply for the Canada Groceries and Essentials Benefit with RC151, or the Canada child benefit with RC66 if you have children.
- Report your income from all sources for up to two years before you arrived, converted at the Bank of Canada rate.
- Register for a CRA account and direct deposit so payments arrive on time.
- Start a Canadian credit file with one small account you pay in full each month.
- Mark April 30 of next year for your first tax return and keep records for six years.
Questions people ask
What should newcomers do first with money in Canada?
Get a Social Insurance Number from Service Canada, open a bank account, and apply for benefits. The CRA says newcomers can apply for benefit and credit payments as soon as they arrive, before filing a first tax return.
When do newcomers file their first tax return?
Not until the year after you become a resident. The CRA's example: if you arrived in 2025, you are not required to file a 2025 return until April 30, 2026. The deadline is June 15 if you or your spouse are self-employed.
How do newcomers apply for the GST/HST credit?
It is now the Canada Groceries and Essentials Benefit. With no children, use the RC151 web form. With children under 19, use the RC151 paper form with proof of birth, or Form RC66 if you are eligible for the Canada child benefit, which also covers the CGEB.
When can a temporary resident get the Canada child benefit?
The CRA says a temporary resident can start receiving the CCB in the 19th month they have lived in Canada, if they hold a valid permit and meet the other conditions. Send the CRA your renewed permit before the old one expires, or payments stop.
Do I pay Canadian tax on money I earned before I moved?
No. The CRA says income you earned outside Canada before you became a resident is not taxed in Canada. You still report it, for up to two years before arrival, so the CRA can calculate your benefits.
Is there a free bank account for newcomers?
Banks that signed the federal Commitment on Low-Cost and No-Cost Accounts offer a no-cost account to newcomers in their first year in Canada. After that, everyone can ask for the low-cost account at no more than $4 a month.
Does my credit history from home count in Canada?
Canadian credit bureaus only collect information about your credit activity in Canada. FCAC says some lenders may look at your history from another country, so ask; otherwise you start building a Canadian file from your first account.
Looni reads your statements and flags monthly fees, transfer charges and subscriptions, so your first Canadian account starts clean. Read-only, no advice.
Sources
Canada Revenue Agency, Newcomers to Canada and the CRA (modified August 3, 2026: residency from the first day for most newcomers, SIN and temporary tax number, apply before first return, RC151 and RC66 routes, information requested, two years of prior income, Bank of Canada conversion, foreign income before residency not taxed, CGEB up to $679 and $1,358, CCB up to $7,997 and $6,748, 19th month rule for temporary residents, permit updates, April 30 and June 15 deadlines, Quebec return, six-year records, scams); Employment and Social Development Canada, Apply for a SIN; Financial Consumer Agency of Canada, Opening a bank account, Commitment on Low-Cost and No-Cost Accounts and Credit report and score basics (bureaus collect Canadian activity only; lenders may consider foreign history). The Priya, Arjun and Mei examples are illustrative; the arithmetic is ours.
Ready for your first credit card? See how to build credit in Canada with no credit history.
Coming to study? See IRCC's 2026 proof of funds amounts and the documents that count.