Home » News & Events » Financial Planning » RRSP DEADLINE REMINDER


by | Feb 12, 2018 | Business Planning, Financial Planning, Tax Planning | 0 comments

This is a friendly reminder that the cut-off date for making RRSP contributions which count towards reducing your income for 2017 is March 1st, 2018Please note that in order to ensure any last minute contributions count towards this deadline, we will need to receive your instructions or deposits prior to this date. Below is a list of the different methods of making your contribution as well as the deadlines for each method.

Transfer from Non-Registered Account: If you have a Non-Registered account set-up, you can simply send us an e-mail indicating the amount you would like transferred from this account to your RRSP. Please allow for 3-4 business days for the money to transfer between accounts, so we should receive this request by Monday, February 26th at the latest.

Online Banking Transfer: Simply add your Custodian (Credential Securities or National Bank Independent Network) as a “Payee” through your online banking, and include your account number. If you need assistance finding your account number or are unsure of your Custodian, please contact our office. If you choose this method, please also notify us with the amount you are contributing, so we can have your Portfolio Manager watch for it. Please note it can take 3-4 business days for the funds to transfer from your bank account to investment account, so this should be done on Monday, February 26th at the latest.

EFT from your Bank: You will just need to sign an EFT form if you have not already done so, which allows Credential/NBIN to take the money directly out of your account with your consent. Once they have the signed form, we will just require an email from you indicating the one-time amount you are authorizing them to withdraw from your bank account and which account you would like it deposited to. We must receive your instructions for this method by Wednesday, February 28th at Noon (MST) at the latest in order to process in time.

Cheque: Please make your cheque payable to your Custodian (Credential Securities or NBIN) and either mail it to us or drop it off at our office. We must receive your cheque in our office by Wednesday, February 28th at Noon (MST) at the latest in order to process it in time. We will notify you once we have received your cheque and will courier it to your Portfolio Manager, who will then deposit it. It is also important that the name on the cheque matches the name on the account that the contribution is going to. Otherwise, an additional letter of direction may be required to allow for the deposit.

Should you have any questions or require our assistance, please don’t hesitate to contact us at 780-490-4200.