The 62-year-old has been charged with sexual assault, sexual interference and invitation to sexual touching, the Abbotsford Police Department announced late Tuesday.
He was charged on Monday following an extensive investigation looking into incidents that allegedly happened in the 1990s, according to police.
A court-ordered publication ban has been imposed to protect the identity of the alleged victim.
Police said Bachman has been released on conditions that he avoid contact with anyone under the age of 16 and stay away from any public park, schoolground, daycare, swimming pool or any other facility where minors under 16 may be present.
Last year, Bachman was found not guilty of similar sex charges stemming from a complaint from a woman who alleged that she was groped while she was a foster child living in his home in the Fraser Valley.
Bachman and his brothers, Randy and Robbie, were founding members of the Winnipeg-based Bachman-Turner Overdrive, also known at BTO.
The band's second album, Bachman-Turner Overdrive II, was released in December 1973 and became a huge hit in the U.S. and Canada, with hit singles Let it Ride and Takin' Care of Business.
In 1974, Tim Bachman left BTO, but rejoined the band in the 1980s for several reunion tours. He has been working as a real estate agent in Abbotsford since the early 1990s.
Tim Bachman was not among the BTO members who were inducted into the Canadian Music Hall of Fame at the Juno Awards in Winnipeg in March.
The members who accepted the honour were Randy Bachman, Fred Turner, Blair Thornton and Robbie Bachman.