We would like to inform you that the calculation of Investia nominee LIF/RRIF minimum and maximum amounts for 2024 has been completed. The new amounts can be found in Univeris under the client’s plan “Details” section. This year’s temporary income amounts are also available in the same section for clients who have requested temporary income and provided us with the appropriate documentation.
Important reminders – Systematic instructions
- Automatic withdrawal deposits (“AWDs”) have automatically been updated to reflect the new minimum/maximum amounts for the first January AWD. Fixed-amount AWDs, however, have not been adjusted, which means the January 2024 payment will be the same as the December 2023 one. If any changes are required, please forward a Nominee Account Systematic Instruction Form to Head Office for processing.
- Entry of pre-authorized chequing plan (“PAC”) instructions must be performed by the Representative, and the void cheque must be imaged to the client’s file.
- It has come to our attention that clients sometimes exceed their maximum annual contribution amount, for example in situations where the client is making a lump-sum contribution to his/her RRSP but forgets that he/she has a PAC set up for this purpose in the system. To avoid potential errors or tax impacts, it is important to verify the PAC amount programmed in Univeris each time one of your clients is making a contribution and adjust it where needed.
For additional information, we invite you to refer to Administrative Procedure # 33A – Preauthorized Chequing Plan (PAC) – Investia Nominee Accounts and Administrative Procedure # 34A – Automatic Withdrawal Deposits (AWD) – Investia Nominee Accounts, which can both be found on the Investia Advisor Centre under Procedures and Forms / Administrative Procedures.
Should you have any questions or require additional information, please contact our Client Services Department, by email at investia@investia.ca, by phone at 1-888-684-5548 or use the chatbot feature available on the Advisor Centre.
