CCPC Share Administration in Group Savings Plans

Your investment advisors, The Spiess McGlade Team, has made special arrangements with several of our Group Plan sponsors to help administer your CCPC shares within your ScotiaMcLeod Group RRSP. This includes a waiver of the normal $300 share set up charge and the $60/year annual administration fee. The only fee you face is a $25 per share transaction (deposit, withdrawal, swap) charge. (The $300 individual set up fee is replaced by a $500 group set up fee (for 5 or more initial investors) and is usually paid for by your firm.)  Please contact us to confirm if your company has a special arrangement with ScotiaMcLeod.

Normally, several things are required to administer CCPC shares.

  • A blanket auditor's letter, stating that the shares qualify to be held in the RRSP. (This is likely in place if your company has made appropriate arrangements with ScotiaMcLeod.)
  • A letter from the auditor, or a business valuator with a recent value for the shares is required to set a price for share transactions. (Also likely in place.)
  • A share certificate re-registered "ScotiaMcLeod RRSP 49x-xxxxx-x-x In Trust for your name". In special cases alternatives to an original physical share certificate can be arranged, however this will result in administration delays.
  • An assurance that you are not a "designated shareholder" (ie. that you own less that 10% of your firm). Either you or your company can sign a letter (or a form CA24) stating that for our files.

Finally, a direction is required from the employee, to transact the shares. That required form, a ScotiaMcLeod CA25, can be printed off here. Download ScotiaMcLeod CA25 Form Click here if you don't have Adobe Acrobat Reader or can't download the above form Download Adobe Acrobat Reader Often, employees will simply sign on the CA25 that "I hereby certify that I own less than 10% of the firm", taking care of point 4 above.

We will need to open a non-registered account for you to deposit the shares into. That account provides a paper trail for the RRSP contribution "in kind" to get you a tax receipt. That account would also be used to receive the cash or investments after a "swap" transaction, where we remove an equivalent amount of cash or RRSP investments after "swapping" in the shares.

While we may make it easy for you to hold your shares in your ScotiaMcLeod Group RRSP account, this should not be interpreted to mean that we think you should do so. It is strongly recommended that you consult a tax advisor or accountant before investing in CCPC shares in your RRSP.

 



Contact Us

T.  416.863.RRSP (7777)
     1.800.387.9273
F.  416.863.7479
E. carl.spiess@scotiamcleod.com
    allan.mcglade@scotiamcleod.com

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