THE 360 NEWSLETTER
Following the March 14, 2024 communication, we would like to remind you that an updated version of the Order Instruction Form for Systematic Withdrawals (Investia Nominee Accounts) (F51-326A) was made available in Univeris on Friday, March 15.
We also remind you that effective Friday, April 12, 2024, any AWD form prior to version 24-02 will be rejected and the request will need to be resubmitted on the new form. For reference, you can find the version number of each form on the first page of the form, in the bottom right corner.
Below is a reminder of important changes which were made to the form:
Changes to AWD dates for non-residents of Canada
Lately, we have noticed a steady increase in the number of AWDs for non-resident clients. Since the verification and taxation adjustment process for these AWDs is manual and to ensure accurate and timely payments, two payment dates will now be dedicated for non-resident clients holding registered accounts.
For new AWD applications or the reinstatement of an old AWD, the dates available for non-resident clients will be reduced to the 20th or 25th of the month. Payment dates for open and TFSA accounts remain unchanged. Existing AWDs for registered plans scheduled on the 15th or end of the month will remain as is. Requests for a different date will be rejected and a new request will have to be submitted.
Changes to the payment type section
In line with ongoing changes in the industry and to ensure prompt payment of AWDs, the cheque payment option will no longer be offered for all new AWD requests or the reinstatement of an old one.
Important notes
- As a reminder, valid banking information meeting Investia’s requirements (please refer to Administrative Procedure #63 – Addition or Change of Banking Information) must always be entered in the client’s profile in Univeris prior to transmission of the AWD request.
- We would like to kindly remind everyone to consistently utilize the most up-to-date versions of forms available in Univeris. In addition, please refrain from storing forms locally on your devices. This practice ensures data security and guarantees that you are working with the most recent forms.
Should you require additional information, please contact our Client Services Team, by email at investia@investia.ca, by phone at 1-888-684-5548, or use the chatbot feature on the Advisor Centre.