Canada Deposit Insurance Corporation

You received this notice because the account you hold met one of the criteria that was used to identify possible trust accounts. Please contact your local RBC Royal Bank branch and let them know why you think your account should not be classified as a trust account. An Advisor will help you evaluate this information and discuss the situation with you.

Please contact your local RBC Royal Bank branch and let them know that you received this notification and did not intend to open or have a trust account. An Advisor will help you evaluate this information and discuss the situation with you.

Yes, this information will ensure that that in the unlikely event of bank failure, that the most current information is available. Beneficiary forms must be postmarked by May 30th, 2021 or earlier.

You may not have received a trust notification in previous years because your account did not meet the criteria that we use to identify the accounts for which a notice should be sent. The CDIC Joint and Trust Account Disclosure By-law requires trustee depositors to provide beneficiary information to their financial institution in order to ensure that CDIC insurance for eligible deposits is extended to the multiple beneficiaries of a trust account.

Pursuant to the CDIC Joint and Trust Account Disclosure By-law, member institutions must annually notify multi-beneficiary trust depositors about their disclosure requirements during the month of April. An estate account can be part of the property of a trust set up by the terms of the Will. Such a trust is called a testamentary trust. If you hold funds in an estate account for two or more beneficiaries of a testamentary trust, for the beneficiaries to be eligible to receive separate CDIC coverage of up to a maximum of $100,000 each, you need to provide RBC with the required beneficiary information, including the amount or percentage interest that should be allocated to each beneficiary.

The accounts of the deceased individual may be estate accounts which are considered trust accounts since there may be funds in the accounts which may be distributed to beneficiaries. If this is a joint account with a surviving owner, please disregard the notice.

If you have not already done so, as a reminder, you should visit your local RBC Royal Bank branch with the appropriate documentation to remove the deceased individual from the account.

You received this notice because the account you hold met one of the criteria that was used to identify possible estate accounts. Please contact your local RBC Royal Bank branch and let them know why you think your account should not be classified as a estate account. An Advisor will help you evaluate this information and discuss the situation with you.

You received this notice because the account met one of the criteria that was used to identify possible trust or estate accounts. As these notifications are prepared months in advance, account changes may have taken place after this letter was written Please disregard the notice.

The CDIC Joint and Trust Account Disclosure By-law requires you, the trustee depositor, to provide this information to your financial institution in order to ensure that CDIC insurance for eligible deposits is extended to the multiple beneficiaries of the trust account. The law requires financial institutions to remind trustee depositors of their disclosure requirement every year.

The CDIC Joint and Trust Account Disclosure By-law requires the trustee depositor to provide the address of each beneficiary to ensure that in the unlikely event of bank failure, that each beneficiary can be accurately identified.

Yes, the CDIC Joint and Trust Account Disclosure By-law requires the trustee depositor to provide beneficiary information to their financial institution in order for each beneficiary to receive separate CDIC insurance coverage on eligible deposits, up to a $100,000 per beneficiary. The law also requires financial institutions to remind trustee depositors of their disclosure requirement every year.

Please inform RBCof any changes to the beneficiary list to help ensure that records are kept up to date. RBC is required to send you the notification letter only in April of each year, but if there are any changes to the beneficiaries in the meantime, please let us know.

RBC and its subsidiaries are in good financial shape and operate within a well-regulated Canadian financial sector. In the unlikely event of a bank failure, there will be a further 90 days to ensure that up-to-date beneficiary information is disclosed on our records. . Eligible deposits held in trust are eligible for CDIC coverage up to $100,000 per beneficiary. Without beneficiary information, the deposits in the account will only be eligible for a maximum of $100,000 coverage. For additional information on CDIC insurance coverage please visit https://www.cdic.ca/your-coverage/

If you need another copy of the form, you can download the form here Please print, complete and forward the form to the reply address listed within the form. You can also visit an RBC Royal Bank branch to pick up a new form.

Effective April 30^th 2020, Canada Deposit Insurance Corporation (CDIC) expanded coverage of eligible deposits to include funds held in:

• U.S. deposit accounts
• Canadian GICs with terms greater than 5 years
• U.S. Term Deposits (all terms)

To find out more about the products at RBC that are eligible, please visit Deposit Register of Eligible Products

You received this notice because the account you hold met one of the criteria that was used to identify possible trust accounts. Please contact your local RBC Royal Bank branch and let them know why you think your account should not be classified as a trust account. An Advisor will help you evaluate this information and discuss the situation with you.

Pursuant to the CDIC Joint and Trust Account Disclosure By-law, member institutions must annually notify multi-beneficiary trust depositors about their disclosure requirements during the month of April. An estate account can be part of the property of a trust set up by the terms of the Will. Such a trust is called a testamentary trust. If you hold funds in an estate account for two or more beneficiaries of a testamentary trust, for the beneficiaries to be eligible to receive separate CDIC coverage of up to a maximum of $100,000 each, you need to provide RBC with the required beneficiary information, including the amount or percentage interest that should be allocated to each beneficiary.

The CDIC Joint and Trust Account Disclosure By-law (the “CDIC By-law”) requires you, the trustee depositor, to provide this information to your financial institution in order to ensure that the maximum available CDIC insurance for eligible deposits is extended to a trust account with multiple beneficiaries. The law also requires financial institutions to remind trustee depositors of this requirement every year.

However, certain trustee depositors (law firms, nursing homes, investment holding companies, notaries, etc.) are permitted under the CDIC By-Law to use an alpha-numeric code or other identifier for each beneficiary rather than provide the name and address of each beneficiary on the form—as long as that code or identifier is used in your (the trustee) current records.

If you are not sure whether you are eligible to use an alpha-numeric code or other identifier, Section 7 of the Joint and Trust Account Disclosure By-Law describes the types of trustee depositors who may provide this information in place of a beneficiary's name and address.

The CDIC Joint and Trust Account Disclosure By-law requires the trustee depositor to provide the address of each beneficiary to ensure that in the unlikely event of bank failure, that each beneficiary can be accurately identified.

Yes, the CDIC Joint and Trust Account Disclosure By-law requires the trustee depositor to provide beneficiary information to their financial institution in order for each beneficiary to receive separate CDIC insurance coverage on eligible deposits, up to a $100,000 per beneficiary. The law also requires financial institutions to remind trustee depositors of their disclosure requirement every year.

Beneficiary information must be as of April 30 of each year, in order to be properly accepted and processed. This submission confirms our records and provides another opportunity to make changes to the beneficiary list.

Please inform RBC of any changes to the beneficiary list to help ensure that records are kept up to date. RBC is required to send you the notification letter only in April of each year, but if there are any changes to the beneficiaries in the meantime, please let us know.

This notice applies to you if the resident fund account is a trust account of which you are the trustee and the residents of your long-term care facility are the beneficiaries.

You are exempt from disclosing the names and addresses of trust account beneficiaries under the provisions of CDIC Joint and Trust Account Disclosure By-law: "if the information described in subsection (2) is disclosed in its place". Subsection 7 (2) of the By-Law allows you to substitute an alpha numeric code or other identifier for the name and address of each beneficiary of the trust account—as long as that code or identifier is used in your current records.

Law societies generally recognize the need for lawyers to make this disclosure and some provide a form for doing so on their websites. For more information, please consult with your local Law Society.

If you have multiple beneficiaries in a trust account, you must provide the beneficiary information as outlined in the notice you received. In addition, a trust account with multiple beneficiaries is eligible for deposit insurance coverage of up to $100,000 per beneficiary. If you do not provide the required beneficiary information, the funds in your trust account may be underinsured. In the unlikely event of bank failure, there will be a further 90 days to ensure that up-to-date beneficiary information is disclosed on our records.

If you have multiple beneficiaries in a trust account, you must provide the beneficiary information as outlined in the notice you received.

A trust account with multiple beneficiaries is eligible for deposit insurance coverage of up to $100,000 per beneficiary. If you do not make the beneficiary disclosure, the funds in your trust account may be underinsured. In the unlikely event of bank failure, there will be a further 90 days to ensure that up-to-date beneficiary information is disclosed on our records. You may want to review your CDIC disclosure obligations with your own legal counsel. In addition, you can find more information in the Subsection 7 (2) of the By-Law

RBC and its subsidiaries are in good financial shape and operate within a well-regulated Canadian financial sector. In the unlikely event of bank failure, there will be a further 90 days to ensure that up-to-date beneficiary information is disclosed on our records. Eligible deposits held in trust are eligible for CDIC coverage up to $100,000 per beneficiary. Without beneficiary information, the deposits in the account will only be eligible for a maximum of $100,000 coverage. For additional information on CDIC insurance coverage please visit https://www.cdic.ca/your-coverage/

If you need another copy of the form, you can download the form here Please print, complete and forward the form to the reply address listed within the form. You can also visit an RBC Royal Bank branch to pick up a new form.

Law societies generally recognize the need for lawyers to make this disclosure and some provide a form for doing so on their websites. For more information, please consult with your local Law Society.

Effective April 30^th 2020, Canada Deposit Insurance Corporation (CDIC) expanded coverage of eligible deposits to include funds held in:

• U.S. deposit accounts
• Canadian GICs with terms greater than 5 years
• U.S. Term Deposits (all terms)

To find out more about the products at RBC that are eligible, please visit Deposit Register of Eligible Products