Applies To:
- All Portfolio Managers, Advisors, Wealth Planners, and support staff.
You can submit a Special Unlocking request from a client’s CRM Contact Record. Use the instructions below to ensure that the estate settlement is managed efficiently and all required actions are completely accurate.
When to Submit an Unlocking Request
- The client qualifies for unlocking due to financial hardship, such as medical expenses, rent or mortgage arrears, or low income.
- The account balance qualifies for small amount unlocking under regulatory thresholds.
- The client has a shortened life expectancy and meets the medical requirements for early access.
Important: In order to process an Unlocking request, the annual minimum on the account must be paid out prior to the Unlocking. Please ensure this requirement is met by processing a Withdraw Funds requests, if applicable, prior to submitting the Unlocking request.
How to Submit a Unlocking Request
To submit a Special Unlocking request, you'll use the Service Extension on the client's CRM Contact Record.
How to Submit a Special Unlocking Request
Choose this method if your client has already completed and signed the required banking authorization forms.
- Navigate to the Client's CRM Contact Record
- Go to the Servicing Tab
- Select "Account Administration → Specialized Account Requests
- Select "Unlocking" as your request type
- Select the Target Account
- Select the Withdrawal Type:
- EFT to banking on file
- Withdraw to investment account
- Issue cheque to address on file
- Based on your selection in the previous step:
- If you chose EFT to banking on file, select the offset account and banking details
- If you chose Withdraw to investment account, select the investment account for the transfer
- If you chose EFT to banking on file, select the offset account and banking details
- Select Manual or Straight Through Processing
- Upload Required Documents for Manual:
- You'll need to attach all the necessary Unlocking forms. To add an attachment, click +Add file and upload the file from your computer.
- You'll need to attach all the necessary Unlocking forms. To add an attachment, click +Add file and upload the file from your computer.
- Enter the fields for Straight Through Processing.
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Review & Submit
- Once you confirm the details, click Submit to create the service request ticket.
Unlocking Details
- Depending on the nature of the unlocking request, you may need to attach additional paperwork or documentation signed by the client. For federal locked-in plans, please refer to the following link based on the nature of the unlocking request: Federal Forms
- For provincial locked-in plans, please refer to the following links based on the province that the plan is registered in: British Columbia, Manitoba, New Brunswick, Ontario, Saskatchewan, Nova Scotia, Newfoundland.
- For Alberta locked-in plans, please refer to the following links: Forms related to Alberta Locked-In Plans
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 Withdraw Pipeline, where you can track the progress and confirm when the request is completed.
Processing Times
- Typically 5-7 business days after the ticket has been submitted and completed any applicable review. If account liquidation is required, processing times may extend to 10-11 business days.