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Canada Revenue Agency Approves the CWCF SD-RRSP Program for CEDIFs12.10.2007
The CWCF is please to announce that it is now in the position to accept CEDIF shares into its SD-RRSP program. For full details and program documentation contact Peter Hough at (902) 678-0473 or peter.cwcf@xcountry.tv. This program is accessible to existing CEDIFs or to new CEDIFs with an approved Offering Document.
Accessing the Program
Any CEDIF which desires to enable its investors to use the CWCF program must do the following:
- Join the CWCF as Associate Members and pay an annual membership fee of $100.
- Sign an agency agreement with the CWCF
- Set up SD-RRSP contracts with their investors using the applications and the other documentation provided and required by the CWCF. The documentation will include two copies of identification one of which must be photo-ID.
- Collect and remit the annual SD-RRSP administration fees from its investors that have contracts with the program. The invoices for fees will be issued in November of each with payment immediately due.
To facilitate the transfer of existing RRSP contracts currently administered by Concentra Trust to the new CWCF program, Concentra Trust will be waiving its normal closing fees on contracts being transferred to the CWCF SD-RRSP. This means that there will be no cost to the contract holder to transfer their RRSP holding in CEDIFs from Concentra to the CWCF except for the annual administration fee for 2007 which is due. All contracts transferred prior to March 31, 2008 will no incur any additional annual fee from Concentra Trust.
Fees for Contract Holders
The is no set up fee for new contracts
The annual fee for each contract will be $60 including HST.
There will be a $75 closing fee when the contracts are terminated.
The fee schedule must be accepted and signed by each contract holder.
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