Please be advised that an updated version of the Order Instruction Form for Systematic Withdrawals (Investia Nominee Accounts) (F51-326A) will be available in Univeris tomorrow, March 15, 2024. Below are two important changes that have been made.

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.
  
  
• Although previous versions of the AWD forms will be accepted for a few weeks, the AWD applications submitted must meet the new requirements mentioned above.