This year’s RSP contribution deadline is March 1, 2022

Does your client want to contribute or open a new policy this Retirement Savings Plan (RSP) season?  Whether using paper or our recent EZtransact online platform, here are some important things to remember.

Issuing New Policy with EZcomplete^®

• All online applications must be digitally signed and submitted and have a date stamp no later than March 1, 2022.

Issuing New Policy using Paper Application

• For contributions to qualify for the first 60 days, all paperwork must be completed and signed by March 1, 2022. Equitable Life must receive all paperwork by March 7, 2022.

Deposits to Existing Policy

• Advisors can setup a one-time or recurring deposit or edit an existing pre-authorized debit already in place using EZtransact. Online deposits must be made and have a date stamp by March 1, 2022, to qualify for a 2021 tax receipt. New to EZtransact? Try our EZtransact Practice Site to see how EZ it is to use.

• Clients can make online deposits to Equitable Life^® through their financial institution’s online banking service. Online deposits must be made and have a date stamp by March 1, 2022, to qualify for a 2021 tax receipt. 

• Clients can also make a new deposit to an existing policy by cheque. The cheque must be dated and signed by March 1, 2022. Equitable Life must receive the cheque no later than March 7, 2022.

If online banking is being used to fund the policy – either topping up an existing policy or opening a new policy – the online banking transaction must be completed by March 1, 2022, to receive a 2021 tax receipt.

Do not miss your opportunity to have your contributions count for 2021!

Please note that cheques and other paperwork cannot be backdated.  They must be completed and signed by March 1, 2022, to qualify for a 2021 tax receipt.
 

® denotes a trademark of The Equitable Life Insurance Company of Canada.