ScotiaMcLeod has made special arrangements with several of our
Group Plan Sponsors to help
administer your CCPC shares within your ScotiaMcLeod Group RRSP. This includes a waiver of the
normal $300 share set up charge and the $60/year annual administration
fee. The only fee you face is a $25 per share transaction (deposit,
withdrawal, swap) charge. (The $300 individual set up fee is replaced by a
$500 group set up fee (for 5 or more initial investors) and is usually
paid for by your firm.) Please contact us to confirm if your company
has a special arrangement with ScotiaMcLeod.
Normally, several things are required to administer CCPC
shares.
- A blanket auditor's letter, stating that the shares
qualify to be held in the RRSP. (This is likely in place if your
company has made appropriate arrangements with ScotiaMcLeod.)
- A letter from the auditor, or a business valuator
with a recent value for the shares is required to set a price for
share transactions. (Also likely in place.)
- A share certificate re-registered "ScotiaMcLeod
RRSP 49x-xxxxx-x-x In Trust for your name". In special
cases alternatives to an original physical share certificate can be
arranged, however this will result in administration delays.
- An assurance that you are not a "designated
shareholder" (ie. that you own less that 10% of your firm).
Either you or your company can sign a letter (or a form CA24) stating
that for our files.
Finally, a direction is required from the employee, to transact the
shares. That required form, a ScotiaMcLeod CA25, can be printed off here -
Download
ScotiaMcLeod CA25 Form. Click here if you don't have Adobe Acrobat
Reader or can't download the above form - Download
Adobe Acrobat Reader. Often, employees will simply sign on the CA25
that "I hereby certify that I own less than 10% of the firm",
taking care of point 4 above.
We will need to open a non-registered account for you to deposit the shares into. That account provides a paper trail
for the RRSP contribution "in kind" to get you a tax receipt.
That account would also be used to receive the cash or investments after a
"swap" transaction, where we remove an equivalent amount of cash
or RRSP investments after "swapping" in the shares.
Please contact your ScotiaMcLeod Wealth Advisor directly for more information or for investment advice tailored to your personal situation.
While we may make it easy for you to hold your shares in your
ScotiaMcLeod Group RRSP account, this should not be interpreted to mean that we
think you should do so. It is strongly recommended that you consult a tax
advisor or accountant before investing in CCPC shares in your RRSP.
The information contained on this website is for use by persons resident in Canada only.
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