You can designate a beneficiary for registered accounts only, such as a RRSP or TFSA.
If you have one of these accounts with us and would like to designate a beneficiary, you’ll need to complete a Registered Plan Beneficiary Designation form and email it to us HERE.
To assign a beneficiary or successor holder for your Tax-Free Savings Account (TFSA) or Registered Retirement Savings Plan (RRSP), follow these steps:
Obtain the Form: Contact your account custodian or log in to your account’s website to download the "Registered Plan Beneficiary Designation Form."
Fill Out the Form: Provide the required details, including the names and relationship of the intended beneficiaries or successor holders.
Submit the Form: Mail the completed form to the custodian of your registered account. Some custodians may allow secure online submission.
Need help completing the form? No problem! Our team is happy to assist—just reach out.
For structured guidance on completing the form, refer to the step-by-step instructions listed above. Our team can provide additional support if needed.
What Happens if a Beneficiary is Deceased?
If a designated beneficiary is no longer living at the time of your passing, or if you have not assigned a beneficiary to your RRSP or TFSA:
The proceeds of your registered account(s) will be considered part of your estate.
RRSP and TFSA amounts will be taxable to your estate if no contingent beneficiary is on file.
The assets will be distributed according to your will and testament, or, if there is no will, the intestacy laws of your province.
If you have listed contingent beneficiaries through your CI Direct Investing account:
The proceeds will be divided equally among them (unless specified otherwise).
If you want to assign specific percentages (instead of an equal split) to your contingent beneficiaries, you must complete a Beneficiary and Contingent Beneficiary Designation form and email it to us HERE.
Important Note for Quebec Residents
If you live in Quebec, you cannot designate a beneficiary or successor holder for your registered accounts.
Under Quebec civil law, the distribution of assets is determined by your will and testament, not by beneficiary designation.
What About Non-Registered Accounts?
Periodic review of your will helps ensure alignment with your preferences regarding the distribution of non-registered accounts and other estate assets.
For non-registered personal investment accounts (which are taxable accounts):
The assets are considered part of your estate.
They are not separately held by a trustee, as they are with registered accounts.
The distribution of these assets will follow your will and testament, or, if there is no will, the intestacy laws of your province.