Here is what I heard re: RBC Direct share registration. What I'd like to know is 1) how to register shares in TFSA / RRSP without triggering tax, 2) how to register without going down share certificate path (can't this just be book entry).
Dear Mr. XXXX,
My name is Peter and I'll help you with your inquiries today.
1. Your shares are registered in 'Street Name' with RBC.
2.You can withdraw your shares in a certificate registered in your name. To request that a certificate held in your personal account be registered in your name, just reply to this email or call us at 1-800-769-2560. If replying to this email please confirm your mailing address. Kindly note that the transfer agent may issue a statement in lieu of a certificate and there can be no open orders for the security being registered in your name for that account and no margin call can result from removing the security. A separate certificate is required for each security.
3. If you request share certificates and withdraw shares from an RSP or TFSA, the investments will no longer be held in an RSP or TFSA and there may be tax consequences. You should contact a personal tax advisor the Canada Revenue Agency for more information.
The current fee for a certificate registration is $50.00 + applicable tax. On average, the processing time is of 3 weeks for Canadian securities and 4 weeks for U.S. securities. Should you require the certificate sooner, you can request rush delivery of the certificate. The fee for a rush certificate is $200.00 + applicable tax.
Mr. XXXX, thank you for contacting us. If you'd like more help with your accounts, just ask in a reply to this e-mail or call us at 1-800-769-2560 - Monday to Friday from 7:00 a.m. to 8:00 p.m. Eastern Time
Sincerely,
Peter Kovac | National Client Liaison Team | RBC Direct Investing
RBC Direct Investing Inc. is a member company under RBC Investments. RBC Direct Investing Inc. and Royal Bank of Canada are separate corporate entities which are affiliated. RBC Direct Investing describes a service provided by RBC Direct Investing Inc. RBC Direct Investing Inc. does not provide specific investment recommendations. Investors are responsible for their own investment decisions. ®Registered trademark of Royal Bank of Canada. RBC Investments is a registered trademark of Royal Bank of Canada. Used under license. © Copyright 2012. All rights reserved.
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-----Original Message-----
Sent: 14 Jan 2012 20:54:18
From: XXXX
To: RBC Direct Investing
Subject: Other Inquiries
Hi,
Could you please help me with questions based on this article... http://www.resourceinvestor.com/News/2012/1/Pages/Who-Really-Owns-Your-Gold-Stocks.aspx
1. Are my shares held with RBC Direct Investing registered in my name with me as the owner? or are they registered under "street name registration"?
2. If they are not registered to me directly, how can I register my shares in my name?
3. My accounts are RRSP and TFSA with RBC Direct Investing. What is implication of registering in my name vs. street name?
Thanks,
XXXX
