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Managed Money Home  |
Home Buyer's Withdrawal | |
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Here are some of the steps involved in making a home buyer's withdrawal. To withdraw for the First-Time Homebuyer's Plan, you will need to complete the Homebuyer's Withdrawal form --> T1036 (REMINDER: Don't forget to send us a MKYC form to update your address once you've moved.) You can fax these forms to us at 416-863-7479, to initiate the process, but we will require the originals by mail before we are able to issue a cheque. We will have to sell appropriate amounts of your current mutual fund or investment holdings to facilitate the withdrawal. There may be Deferred Sales Charges on the the funds in your account. We can research this if the initials DSC appear on your fund holdings. (DSC fees are charged by the Mutual Fund Companies to redeem units prior to their maturity.) We can take funds from both a regular and/or a spousal account. Once the funds have been converted into cash we can issue a cheque. It usually takes about a week for this type of transaction, but we can speed up delivery of the funds with instructions for direct deposit to your bank account (there is a $17 charge to wire to non-Scotia Bank Accounts). One of the better resource guides is AIM/Trimark's HBW guide. For more information on the Homebuyer's Plan, please visit the CCRA website: Please feel free to email us or contact our service centre at 416-863-7777 or 1-800-387-9273 with any questions. | ||
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