We are delighted to announce the creation of two new forms to streamline the management of your nominee group RRSPs.
The first form, “Nominee Group RRSP Contribution Details Form” (F51-438A), has been specifically designed for employers with fewer than 30 employees. Using this standardized form is essential to ensure all necessary contribution information is accurately conveyed, enabling efficient and timely processing. Additionally, the inclusion of barcoded and prepopulated fields will enhance imaging and processing speed and accuracy.
Important considerations
- It’s crucial to inform employers that the recurrent contribution amount and the employee contribution form must be submitted at the same time. Employee contribution form sent in advance which cannot be matched with any contribution will be rejected by head office.
- Univeris client ID for each employee must be shared to the employer, thereby facilitating clear employee identification on the form, as outlined in Administrative Procedure #50, which has been recently updated to reflect the changes. Click on the link below to read the amended procedure:
Administrative Procedure #50 – Group Registered Retirement Savings Plan (Group RRSP)
- Similarly, contributions received without the accompanying employee contribution form cannot be invested and will remain in the employer’s cash account. Consequently, Representatives must ensure that purchases are made in a timely manner upon receipt of the transferred amount. It’s also advisable to utilize the Investia Dashboard or the “Cash Account Balance Report” in Univeris (under “Reports/Administration/Trading”) to verify that no amounts remain uninvested. Investia head office will not be monitoring employer cash balances.
We have also introduced a new form for the employee/client, i.e., the “Order Instruction Form Systematic Purchases – Investia Nominee GRSP” (F51-325A-3), replacing the current Order Instruction Form. Specifically designed for group RRSPs, this form must be used instead of the Order Instruction Form for all group accounts going forward in order to allow Investia to set up the systematic instructions for each of your clients.
Both forms can be found in Univeris under the “Generate Forms” section of the Task Menu.
Should you require any information, please contact our Client Service Department, by email at investia@investia.ca, by phone at 1-888-684-5548 or via the chatbot feature on the Advisor Centre.