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What Additional Documents Are Required When Opening Entity Accounts

Learn which additional documents must be included and submitted to successfully open entity accounts.

Applies To:

  • All Portfolio Managers, Advisors, Wealth Planners, and support staff.

When opening an entity account, specific documentation is required in addition to standard new account forms. These documents help confirm the legal existence of the entity, identify authorized individuals, and ensure compliance with regulatory requirements. There are four primary types of entity accounts: Corporations, Partnerships, Trusts, and Charitable Organizations. Each entity type has its own set of required supporting documents.

Corporations

  • Articles of Incorporation – A formal document filed with the government that establishes the corporation as a legal entity. This document includes the legal name, structure, and date of incorporation.

  • Corporate Resolutions – A signed resolution from the board of directors authorizing specific individuals to open and operate investment accounts on behalf of the corporation.

  • Bylaws – Internal rules adopted by the corporation that define its governance structure, officer roles, and decision-making processes.

  • Beneficial Ownership Documents – A declaration that identifies individuals who own or control 25% or more of the corporation, or who exercise significant control. This is required to meet AML and FINTRAC guidelines.

Partnerships

  • Partnership Agreement – A legal contract between the partners that outlines the terms of the partnership, including responsibilities, contributions, and decision-making authority.

  • Partnership Registration Certificate – A government-issued document confirming the partnership’s registration and legal name. This helps verify the legitimacy of the business entity.

Trusts

  • Trust Agreement (Declaration or Deed of Trust) – The foundational document that creates the trust and outlines the duties, powers, and responsibilities of the trustee(s) and the terms of asset management.

  • Certificate of Trust – A condensed version of the Trust Agreement summarizing key details such as the trust name, trustees, and signing authority. It is often used in place of the full trust document for privacy reasons.

  • Trustee Authorization – A letter or resolution from the trustees confirming which individuals have the authority to act on behalf of the trust for investment purposes.

Charitable Organizations

  • Articles of Incorporation (or Articles of Formation) – A legal document establishing the organization as a non-profit or charitable entity, including its name, purpose, and structure.

  • Charitable Registration Documentation – A certificate or letter from the CRA confirming the organization’s registration as a charitable entity and its registration number.

  • Governance Documents – These may include the organization’s bylaws or constitution and outline the rules for how the organization is operated, who has authority, and how decisions are made.