Customer Service
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Account and asset transfer


What do I need to complete my transfer request?

You will need your portfolio statement from the relinquishing institution (the financial institution that is holding your assets) as it will be useful to find the following information:

  • Address of your current financial institution
  • Type of account (RRSP, spousal RRSP, LIRA, RRIF)
  • Currency of the account you wish to transfer
  • Full account number (the first six digits of your NBDB account number are the root and the seventh digit determines the type of account held. It may be the same at other financial institutions. Before submitting your transfer form, make sure to provide the full account number).
  • Details on your assets

It is recommended to attach a copy of a recent portfolio statement from the relinquishing institution to the transfer form.

Which transfer form do I use for my particular situation?

 

Type of account at the relinquishing institution (FROM:)

Type of account at NBDB (TO:)

Form  used

Cash account / Margin account (CAD or USD)

Cash account / Margin account (CAD or USD)

30052

RRSP

RRSP / RRIF

T2033

LIRA / Locked-in RRSP

LIRA / Locked-in RRSP / LIF

T2033

RRIF*

RRIF

T2033

RRIF*

RRSP

T2030

LIF*

LIF

T2033

LIF*

LIRA / Locked-in RRSP

T2030

RESP

RESP

SDE 0088 + TP-1029.8.IQ (for Quebec accounts)

RPP (Registered Pension Plans)

______________________

DPSP (Deferred Profit Sharing Plan)

LIRA / LIF

______________________

RRSP / LIRA

 

 

T2151

Consult your employer for more details

 

* See question "What could delay my assets from being transferred?"  

How do I ensure that my form is filled out properly?

Here’s a checklist to help you.

  • Your name, as well as the currency and the full account number (seven characters) with NBDB.
  • The currency and the account number at the relinquishing institution, as well as that institution’s name and mailing address.
  • The type of transfer is specified (in cash or in-kind). A cash transfer means the assets will be sold and the proceeds will be sent to NBDB. Commission charges may apply.
  • You have specified if it is a complete or partial transfer. Ensure that you have included a list of assets to be transferred if you are requesting a partial transfer.
  • You have signed and dated the form.
  • The irrevocable beneficiary, if applicable, has signed the form.
  • You have attached a copy of your most recent portfolio statement.
How long will it take for my account to be transferred?

The timeframe to transfer an account depends on the relinquishing institution and the assets being transferred.

Note: Timeframes are indicative only. During peak periods, the completion of transfers may take longer than anticipated. Incomplete ou missing documents may also delay a transfer. 

Transfers using ATON

ATON is an automated transfer system used by many brokerage firms. Contact one of our representatives at 514 866-6755, or toll free at 1-800-363-3511 for the list of participating institutions.

Estimated timeframe for the reception of assets, in business days (following initiation of the request)

Canadian stocks American stocks Options and mutual funds Foreign or over-the-counter stocks Guaranteed investment certificates
4 days 7 days 7-12 days 20 days 20-30 days

Transfers not using ATON

Transfers coming from brokerage firms not using ATON require manual processing. This represents approximately 60% of transfer requests.

Estimated timeframe for the reception of assets (from the time the transfer form is sent to the relinquishing institution or from the maturity date of a GIC)  

Banks/ Caisses populaires Mutual Funds Trusts / Insurance Companies Employers / Pension Plans / Government Organizations
10 days 10-20 days 30 days 90 days

 

What could delay my assets from being transferred?

Certain situations may cause a delay or prevent the completion of a transfer. Here are a few.

The name and SIN (social insurance number) on the transferring out account must match those of the receiving account

For example, the transfer of a joint account to a personal account will be rejected. A corporate account cannot be transferred to a personal account.

Unsettled account

For example, an account under a margin call may cause delays.

THe accounts must be of the same type

For example, a non-registered account cannot be transferred to a TFSA.

Total transfer of a non-transferable security

In this case, the transfer will be rejected and a second transfer request must be submitted.

RREF transfer

 

LIF transfer

The relinquishing institution must pay out the minimum payment before the transfer.  

You must ensure you have received all of your payments that exceed the minimum payment for the year from the relinquishing institution before the transfer as NBDB cannot authorize new payments.

Locked-in accounts

An account must be opened under the proper legislation before a transfer request can be processed.

Mutual fund held with a mutual fund company, and not your broker

It is important to sign one transfer form for each mutual fund company.

GIC transfer

Some financial institutions require that the transfer request be received two weeks before the maturity date.

Are there some investment products that cannot be transferred to National Bank Direct Brokerage?

Certain investment products are not transferrable to National Bank Direct Brokerage. Here are some examples. To verify if an investment product is transferrable, please contact one of our representatives at 1-800-363-3511.

  • Segregated funds
  • Certain mutual funds cannot be purchased nor can be transferred to NBDB. See our lists of accepted funds.
  • Private securities
  • Futures contracts
  • Certain guaranteed investment certificates (GICs)
Are there any fees to transfer my account to National Bank Direct Brokerage?
National Bank Direct Brokerage does not charge a fee to have your account transferred. However, the relinquishing institution may charge you a transfer fee.
How can I deposit shares in my brokerage account?

You must bring your share certificate to a National Bank branch. You will then need to sign the back of the certificate or, if you prefer, complete the Irrevocable Power of Attorney - Securities form (form 11511). Your branch will send us your share certificate to be deposited in your brokerage account.

Note that share certificates trading on the TSX Venture are not accepted for deposit. Only securities trading on the TSX Venture and held in electronic form by the Direct Registration System are accepted.

Moreover, share certificates, held physically or electronically, trading on US or Canadian over the counter exchanges are not accepted for deposit in addition to securities with restrictions, warrants and rights.


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