09. Assets transfer form (C5, T2033)
This video introduces the transfer of external assets to the firm (T2033) for accounts held in the client’s name.
This procedure is used when a client wishes to transfer investments held at another financial institution to their account with Sentinel. Form C5 is the specific tool dedicated to this operation.
1. Preparation of Form C5
- Nature of the document: This is a single-page document, designed to be simple and quick to complete.
- Golden rule (One form per issuer): It is strictly mandatory to complete a separate form for each issuer of the transferring fund.
- Example: If you are transferring from Manulife and Fidelity, you must submit two separate C5 pages.
- Prohibition: The grouping of several different issuers on a single C5 document is not authorized by the administration.
2. Entering the required information
To ensure that the transfer is processed without delay, you must accurately enter the following on the form:
- Nature of Account: Specify the type of plan to be transferred.
- Fund Code: Indicate the code of the financial product to which the assets will be transferred.
3. Finalization and Signature
- Consent: Once the information is entered, you need to collect the customer’s signature on the document.
4. Logistical justification and transmission
- Method of mailing: The reason for this rigorous procedure (one form per issuer) is logistical: these documents are faxed directly to the ceding fund companies.
- Destination Guarantee: This separation by issuer ensures that each document arrives at the correct destination without administrative confusion at the originating issuer.
In summary, Form C5 remains the exclusive and indispensable tool for any T2033 transfer made on behalf of the client.
