The transferor completes and signs Area III. T Area 1 — Annuitant. Speak to an Annuity Advisor Ivon T. This part of the T should be left blank. Learn how to fill in a fillable T transfer form in 9 simple steps. The transferee keeps one copy, returns one to the transferor, and gives the last one to the annuitant.
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Please read my disclosure for more info. There are many reasons why you may want to transfer your registered investment accounts from one financial institution to the other. Some of these include: To consolidate all your accounts in one bank or financial institution for ease of access and management.
When looking for cheaper investing options such as lower MERs. Interest in proprietary investment assets available at a specific financial institution. Choosing to go with a self-directed account i. Do-It-Yourself investing.
The transfer can be done in cash or in kind. In kind transfer means that your investment assets are transferred directly to your new account in the receiving institution without any buying or selling taking place. For example, if you held 1, shares of TD in your old account, you will have the same amount in your new account.
An in cash transfer is often recommended if your current investment holdings are proprietary and are not available or being offered at the receiving institution.
A potential downside to in cash transfers is if you are selling off your assets when prices are temporarily depressed — you could be hit with a significant loss! Steps Ensure you have clarified your reason for transferring your registered account to another financial institution. Transfers can potentially be costly and should be done only when necessary. Print off a copy of your most recent investment statement. This will show what assets you own and their approximate value.
Once the transfer form is submitted, it can take anywhere from a few days to several weeks to process it. Follow up with your new provider to confirm when your transfer has been completed. These forms capture the same information required by government transfer forms.
RESP Transfer Form A is completed by the subscriber you , while the receiving and relinquishing financial institutions complete forms B and C respectively. Your new provider will provide you with an accurate form to fill. Closing Thoughts Transferring your registered investment accounts from one bank or discount brokerage to another is not as difficult as it appears. The receiving institution your new bank will complete most of the paperwork on your behalf and contact the relinquishing institution your old bank directly.
Transfer fees can be a bummer. Open an account here!
Direct Transfer - T2033