As you know, a minimum annual payment (MAP) is required for all RRIF and LIF accounts. In accordance with Section 146.3(1) of the Income Tax Act, Investia is responsible for ensuring that all minimum payments are made before the last day of the year.
In recent years, there has been a noticeable increase in RRIFs & LIFs without an active AWD on file and for which the minimum amount was not redeemed during the year. As a result, head office must manually process trades at the end of the year to pay the required minimums.
Setting up mandatory systematic withdrawals for RRIFs and LIFs
To ensure that minimum annual payments are made each year, we ask that you please review all your active RRIF & LIF accounts to ensure that an active AWD is in place. Please complete this by October 31, 2025. As a reminder, you can generate the following report to obtain a list of clients holding RRIFs/LIFs without any AWD on file:
If no AWD is set up and the minimum payment remains unpaid by November 7, 2025, head office will set up an annual AWD for payment around December 20, 2025. This AWD will remain active for future years. To do so, we will choose the fund with the highest market value and most advantageous fee structure for the client, and no changes will be possible for the current year. If this does not meet the client’s objectives, it will be your responsibility to request a fund change for the following year.
Note: For clients who have already paid the minimum amount in 2025, no AWD will be set up by head office. However, we invite you to send us an AWD setup form for 2026 and beyond. For information regarding adjustment requests, please refer to Administrative Procedure #34A.
Important – Change regarding systematic withdrawals with the “Elected Amount” option
Starting in January 2026, systematic withdrawals scheduled in registered plans with the “Elected Amount” option will be automatically corrected if they do not comply with the minimum or maximum amount. Withdrawals will be recalculated as follows:
- Recurring withdrawals using the “Minimum Payment” or “Maximum Payment” option will be automatically updated based on the new minimum/maximum amounts.
- Systematic withdrawals using the “Elected Amount” option will be adjusted as follows:
- If the AWD amount is below the new minimum amount, it will be adjusted to meet the required minimum amount based on the selected frequency.
- If the AWD amount is above the new maximum amount, it will be adjusted to the maximum amount allowed based on the selected frequency.
Updating banking information
We would like to remind you that, as part of our industry-wide changes, cheques are no longer issued for payment. Setting up an AWD is a good opportunity to set up banking information on file to ensure faster client payments.
If banking information is missing after November 7, 2025, the mandatory minimum payment will be transferred to the cash account of an existing non-registered nominee account. If none exists, head office will open one to enable the transfer of the minimum. To ensure efficient and fair resource management, a fee could be charged for any minimum transfer made by head office to a non-registered account. This only applies for minimum transfers that are not processed by Representatives.
If you redeem or transfer the payment of the minimum amount after November 7, you must verify whether head office has already set up an AWD, and, if so, it will be your responsibility to request that it be carried over to the following year as soon as possible, or by the deadlines outlined in Administrative Procedure # 34A. Failure to do so may result in duplicate payments, and any resulting letter of indemnity will be at your expense.
We thank you for your usual cooperation.
Additional information
- Administrative Procedure #34A – Automatic Withdrawal Deposits – Investia Nominee Accounts
- Administrative Procedure # 63 – Addition or Change of Banking Information
Should you have any questions or, 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.
