Yes. The TFSA's tax-free status exists only in Canadian law; no treaty provision extends it to the US, so interest, dividends and gains inside a TFSA are taxable on your US return in the year earned. Holding Canadian mutual funds or ETFs inside one usually adds PFIC reporting on Form 8621 as well.
Depending on how the account is documented, many TFSAs are formally trusts, which is commonly read to trigger foreign-trust reporting on Forms 3520 and 3520-A, where the penalties for missed filings are severe. The account also counts toward FBAR and Form 8938 thresholds. For many dual citizens the practical answer is that a TFSA is a fine Canadian account and a poor US-person account.