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How to Submit a Update NBIN-261 Form Update

Learn how to submit an Update NBIN-261 Form Update to ensure compliance with U.S. investment regulations and withholding tax eligibility.

Applies To:

  • All Portfolio Managers, Advisors, Wealth Planners, and support staff.
  • Eligible account types: Cash accounts, Joint accounts, Margin accounts, TFSA, RRSP, RESP, RDSP, FHSA, and Trust accounts.

You can submit an Update NBIN-261 Form from the client’s CRM Contact Record. Use the instructions below to ensure the NBIN-261 Form meets the eligibility requirements and the correct details are provided.

When to Submit a Update NBIN-261 Form

  • When opening an account that holds U.S. investments.
  • When claiming a reduced U.S. withholding tax rate.
  • Alongside IRS Form W-8BEN-E.
  • Upon change in entity status or eligibility.

How to Submit a Update NBIN-261 Form

To submit an add Update NBIN-261 Form, you'll use the Service Extension on the client's CRM Contact Record. When submitting the request, there are two distinct submission methods and workflows: Manual Submission, which involves upload a scanned or physically signed document, and Straight-Through Processing (STP), which automatically generates the required forms and sends it to the client through DocuSign.

Although both methods are valid, we strongly recommend using Straight Through Processing whenever possible for real-time tracking, reduced errors, and faster turnaround times.

Learn more about Straight-Through Processing.

How to Submit a Update NBIN-261 Form using Manual Submission

Choose this method if your client has already completed and signed the required forms.

  1. Navigate to the Client's CRM Contact Record
  2. Go to the Servicing Tab
  3. Select Account Administration → Update Account Administration
  4. Select Update NBIN-261
  5. Select the Account Root
  6. Select Manual Submission
  7. Upload Required Documents:
    • Signed NBIN-261 by the client
  8. Review & Submit 
    • Once you confirm the details, click Submit to create the service request ticket.

Tip: Double-check that the uploaded forms include signatures and correct account details to avoid processing delays.

How to Submit a Update NBIN-261 Form using STP

With STP, Optimize automatically generates and emails the necessary forms to your client for electronic signing through DocuSign.

  1. Navigate to the Client's CRM Contact Record
  2. Go to the Servicing Tab
  3. Select Account Administration → Update Account Documentation
  4. Select Update NBIN-261

  5. Select the Account Root
  6. Select Straight Through Processing
  7. Enter the NBIN-261 Form Details:
    • Select the applicable accounts that will be affected
    • Name of Legal Entity
    • Select the IRS Limitation on Benefit Categories from the dropdown
    • Authorized Officer Full Name
    • Authorized Officer Email
    • Optional: If there is more than one authorized officer click the add authorized officer and enter:
      • Authorized Officer Full Name
      • Authorized Officer Email
  8. Review & Submit 
    • Once you confirm the details, click Submit to create the service request ticket.

Please note: Once you submit the request, the ticket will be created and the client will be automatically sent the paperwork by DocuSign. The ticket cannot progress further until the client reviews the paperwork and electronically signs through DocuSign.

After Submitting the Request

A new service request ticket will be created. You can locate it:

  • In the Right-Side Panel of the client's CRM Contact Record under Tickets.
  • In the Account Administration Pipeline, where you can track the progress and confirm when the request is completed.

Processing Times

  • Manual Submission: Typically 7 business days after the ticket has been submitted and completed any applicable review.
  • Straight Through Processing: Typically completed within 1 business day of receiving signed documents.