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Feel Confident That Your Money Is Protected

Royal Bank of Canada and some of its subsidiaries1 are proud members of Canada Deposit Insurance Corporation (CDIC).

CDIC is not a bank, nor a private insurance company. CDIC is a federal Crown Corporation that contributes to the stability of the Canadian financial system by providing deposit insurance against the loss of eligible deposits at member institutions in the event of failure. It is funded by premiums paid by its member institutions, and it does not receive public funds to operate.

Find out more about the products at RBC that are eligible for CDIC deposit insurance: Deposit Register of Eligible Products.

Find Out More About the Instruments and/or Products at RBC® That Are Eligible.

Deposit Register of Eligible Products (opens PDF in new window)

Learn the Full Details of Coverage and Limitations Set by the CDIC.

Protecting your Deposits (opens PDF in new window)

For Further Information Concerning Funds Held in Trust:

Personal

The Government of Canada has made important changes to the rules governing how deposit insurance protection is provided for trust deposits by the CDIC that took effect on April 30, 2022. RBC is a proud member of the CDIC and as such is required to annually remind trustee depositors to provide RBC with updated beneficiary information.
For more information about these changes, please visit: https://www.cdic.ca/financial-community/.

CDIC legislation requires trustee depositors to meet certain obligations which includes providing updated beneficiary information to their financial institution to help ensure that each beneficiary receives separate CDIC deposit insurance protection on eligible deposits, up to $100,000 per beneficiary. The law requires financial institutions to remind trustee depositors of their disclosure requirement every year. If the account has been closed over the course of the year please disregard this notice.

If you do not provide RBC with the required information, and keep it up-to-date, the eligible deposits that you hold in trust for others may not receive CDIC deposit insurance protection up to $100,000 per beneficiary. CDIC relies on the latest information on our records to protect your deposits.

Note: If a trust account is not identified as a trust account on our records, funds in that account may be aggregated with all other accounts of the depositor for purposes of determining the maximum eligible CDIC coverage.

FAQs for Personal Clients(opens new window)

Business

The Government of Canada has made important changes to the rules governing how deposit insurance protection is provided for trust deposits by the CDIC that took effect on April 30, 2022. RBC is a proud member of CDIC and as such is required to annually remind trustee depositors to provide us with updated beneficiary information. For more information about these changes, please visit: https://www.cdic.ca/financial-community/.

CDIC legislation requires trustee depositors to meet certain obligations which includes providing updated beneficiary information to their financial institution to help ensure that each beneficiary receives separate CDIC deposit insurance protection on eligible deposits, up to $100,000 per beneficiary. The legislation requires financial institutions to remind trustee depositors of their disclosure requirement every year. If the account has been closed over the course of the year, please disregard this notice.

The legislation, that came into effect on April 30, 2022, creates three types of trust deposits with different legal disclosure requirements:

  • A nominee broker deposit;
  • A deposit held in an account identified as a professional trustee account;
  • A deposit made in trust by a trustee not identified as a professional trustee or a nominee broker.

The rules for a professional trustee account only apply if the professional trustee requests that the account be identified as such.

Trustees – depositors who hold deposits in trust at a CDIC Member Institution and the deposit is not a nominee broker deposit or a deposit held in a professional trustee account.

Your responsibilities as a Trustee Depositor

Trustee depositors are responsible for updating and providing us with the following information with respect to each deposit held in trust by them to help ensure that each beneficiary of the deposit receives separate deposit insurance protection on eligible deposits, up to $100,000 per beneficiary:

  • Confirmation that the deposit is held in trust;
  • The full name of each trustee of the deposit and the address of at least one trustee;
  • The name and address of each beneficiary of the deposit account; and
  • The beneficial ownership interest of each beneficiary of the trust, if there is more than one beneficiary, expressed as either an amount ($) or a percentage (%).
FAQs for Business Clients(opens new window)

Ensure Beneficiaries of the Eligible Funds Held in Trust are Eligible for Maximum CDIC Coverage.