Account Administration Overview

Account Administration Requests enable users to update, manage, or correct client account details at Optimize. These requests cover a wide range of administrative actions, ensuring that accounts remain accurate, compliant, and up to date.

Contact Associations

The Associate Contact service request is used when a client wants to add or remove a contact associated with their investment account. This request ensures proper contact linkage and communication.

What are the different methods to Associate Contact

Clients can manage contact associations through the following methods:

• Add an Associated Contact – Add a new contact to be associated with the client’s account.

• Remove an Associated Contact – Remove an existing contact from the client’s account.

Banking Information

The Banking service request is used when a client wants to add, modify, or remove banking information associated with their investment account. This ensures seamless EFT processing and secure fund movements.

What are the different methods to Manage Banking

Clients can manage banking details through the following methods:

• Add Banking Information – Add new banking details to facilitate EFT In or Out requests.

• Modify Banking Information – Change or update authorization for banking information on file.

• Delete Banking Information – Remove authorization for banking information no longer in use.

Beneficiaries

The Beneficiary service request is used when a client wants to add, change, or update beneficiary information. This ensures accurate and compliant beneficiary records for registered and plan accounts.

What are the different methods to Manage Beneficiaries

Clients can manage beneficiary information through the following methods:

• Add or Change Beneficiary – Add or change beneficiaries for registered and plan accounts.

• Add or Change RESP Beneficiary – Add or change beneficiaries for RESP accounts.

• Update RESP Beneficiary Information – Update personal details for existing RESP beneficiaries.

Document Delivery & Online Access

The Document Delivery service request is used when a client wants to adjust how they receive documents such as statements or tax slips. This ensures timely and secure document delivery.

What are the different methods to Manage Document Delivery

Clients can manage delivery preferences through the following methods:

• Update Document Delivery Method– Modify how documents like statements, tax slips, and confirmations are delivered.

• Reset Client Password – Reset a client’s password for online access to account documents.

• Grant Third-Party Online Access – Grant online access to a third party across multiple accounts.

Special Handling

The Special Handling service request is used for various non-standard account actions. These requests help correct errors, settle estates, or accommodate unique account needs.

What are the different methods to Submit Special Handling Requests

Clients can submit special handling requests through the following methods:

• Account Fee Change – Change the fee structure on a client’s account.

• Book Value Adjustment – Adjust misstated book values.

• Cancel / Correct – Cancel or correct contributions or withdrawals.

• Clerical Error Update – Fix incorrect client information with the custodian.

• Client Passed Away – Notify the custodian that the client has passed before submitting estate requests.

• Close Account – Request to close a client account.

• Credit Client Account – Apply a credit to the client’s account.

• Recalculate LIF Maximum – Recalculate the annual LIF maximum.

• Residual Transfer-In Sweep – Sweep residual funds from an external institution.

• Reopen Closed Account – Request to reopen a previously closed account.

• RESP Breakdown – Request a detailed breakdown of RESP components.

• Rollback Options – Transfer funds back from RIF or LIF plans.

• Signature for Locked-In Agreements – Obtain custodian signature for locked-in plan agreements.

• Tax Slip Corrections – Request corrections for issued tax slips.

• Tax Slip Duplicates – Cancel duplicate tax slips issued in error.

• VALNIL Security – Request to mark a security as VALNIL.

• Verify Client Information – Provide documentation to correct client information flagged as incorrect.

Special Account Requests

The Special Account Requests service module includes unique account actions that support Straight Through Processing (STP). These help facilitate efficient handling of complex account scenarios.

What are the different methods to Submit Special Account Requests

Clients can submit requests through the following methods:

• Charitable Donation of Securities in Kind – Request to donate securities to a charitable organization.

• Estate Processing – Submit documentation and instructions for estate settlement.

• Home Buyers’ Plan – Request a withdrawal under the RRSP or Spousal RRSP Home Buyers’ Plan.

• Lifelong Learning Plan – Request a withdrawal under the RRSP or Spousal RRSP Lifelong Learning Plan.

• Update Account Legislation – Update the legislative status of an account.

• 50% Unlocking (Alberta) – Request 50% unlocking from locked-in plans for Alberta residents.

• 50% Unlocking (Non-Alberta) – Request 50% unlocking for Non-Alberta residents.

• Unlocking – Unlock funds due to financial hardship, small balances, or shortened life expectancy.

Update Client & Account Information

The Client Information Updates service request is used to update or correct personal information associated with a client’s account. This ensures the information remains current and accurate.

What are the different methods to Update Client Information

Clients can request updates through the following methods:

• Add or Update Power of Attorney (POA) – Add or update a Power of Attorney on the account.

• Authorize Information Sharing – Provide authorization to share account information with third parties.

• Report Marital Breakdown – Notify the custodian of a marital breakdown.

• Update Client Address – Change the client’s mailing address.

• Update Date of Birth – Correct the client’s date of birth.

• Update Email Address– Update the client’s email address.

• Update Client Name – Change the client’s legal name.

• Update Phone Number – Update the client’s contact phone number.

• Update Social Insurance Number (SIN) – Update or correct the Social Insurance Number on file.

Update Account Documentation

The Update Account Documentation service request is used to update expired or incomplete documentation for client accounts. This helps maintain compliance with regulatory and custodial requirements.

What are the different methods to Update Account Documentation

Clients can submit documentation updates through the following methods:

• Update NBIN-261 – Limitation on Benefits Treaty Statement for non-individual Canadian residents.

• Update NR301 – Declaration of tax treaty eligibility for non-residents.

• Update Government-Issued ID – Submit new government-issued photo ID.

• Update Subscriber Information – Update personal information for account subscribers.

• Update Beneficiary Information – Update personal information for account beneficiaries.

• Update Withholding Statement – Submit documentation for reduced U.S. withholding tax rates.

• Update W-8BEN – Submit tax status certification for non-U.S. individuals.

• Update W-8BEN-E – Submit tax status certification for non-U.S. entities.