The last days of the RRSP campaign are already fast approaching! To ensure timely processing of your one-time PACs (also known as pre-authorized debits or PADs) programmed for March 3, we remind you that a new process will be implemented for the 2025 investment period. In addition to the regular cycle launched in the morning, a second PAC cycle will be launched at 11 p.m. on March 3, 2025.
For a PAC to be considered for this additional cycle, it must have a start date of March 3, 2025. This will generate a large number of new contributions before the deadline, and thus facilitate the issuance of contribution receipts for your clients.
Please note that while the deposit will be dated March 3, for it to be automatically considered a first 60-day contribution, the purchases must be released the following morning and have a transaction date of March 4.
Additionally, between March 4 and March 5 at 4 p.m., if a one-time purchase is to be considered for the first 60 days, you need to use the “Client EFT Deposit” option within OrderXPRESS. This will withdraw the funds directly from your client’s bank account, while ensuring a first 60-day contribution receipt will be generated.
As a reminder, electronic orders are considered to be completed within the first 60 days of the year if they meet the following requirements
If PACs processed on March 4 and 5 are to be considered part of the first 60 days, please send your request for recodification to head office at investia@investia.ca. Additionally, ensure that the signed PAC form has been faxed or uploaded to head office for imaging for reference and dealer record-keeping purposes.
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.