Self-Administered Accounts
RRSP | RIF | LIRA | LIF & TFSA
Western Pacific Trust Company works closely with Private Issuers and their Investors to facilitate capital raising and investment in the private capital markets.
As trustee for registered plans and TFSAs holding exempt market products, WPTC ensures that close attention is paid to every aspect of the process, from the review of the investment for acceptance into its plans, through the account opening, transfer and/or contribution process, to the maintenance of plans, and ongoing support of issuers and investors.
At WPTC, we understand the frustrations that too often result from dealing with large, faceless financial institutions, and pride ourselves on the personal, responsive and knowledgeable service provided to our clients and business partners, all at competitive rates. (WPTC Fee Schedule)
For a full suite of WPTC account opening documents, please go to (Forms)
Eligible investments for RRSP and TFSA self-administered accounts are prescribed in the Income Tax Act of Canada, and include investments in qualified:
- Canadian Controlled Private Corporations (CCPC)
- Private Mutual Fund Trusts
- Private Corporate Debt Securities
- Eligible Business Corporations [British Columbia] (EBC)
- Venture Capital Corporations (VCC)
- Mortgage Investment Corporations (MIC)
- Arms-Length Mortgages
- Syndicated Mortgages
Registered self-administered plan holders can view their WPTC accounts online at their convenience through our Client Portal: (Client Portal)
Self-Administered Plans Fee Schedule
ANNUAL TRUSTEE FEE – RSP, LIRA, RIF OR TFSA
(based on anniversary date)
- $165.00 first plan opened
- $75.00 second plan of any type opened in addition to existing plan in Annuitant’s name
ARM’S LENGTH & SYNDICATED MORTGAGES
$125 Mortgage Set-Up Fee
$15 Monthly Administration Fee per Mortgage
$50 Advance (post Set-Up)
$150 Transfer In Mortgage
$50 Mortgage Discharge Fee
$50 Execution of Documents
$50 Mortgage Renewal
PRIVATE COMPANY/TRUST UNIT FEES
$75 Purchase
$100 In-kind contribution
WITHDRAWAL FEES
$250 Full Withdrawal/Transfer out – Cash
$250 Full Withdrawal/Transfer out – In Kind
$50 Partial Withdrawal/Transfer out – Cash*
$75 Partial Withdrawal/Transfer out – In Kind*
$50 Unscheduled Withdrawals from RRIF/LIF/LRIF – Cash
$75 Unscheduled Withdrawals from RRIF/LIF/LRIF – In Kind
$75 Payments In Kind RIF/LIF/LRIF (1 free per year)
OTHER FEES
$50 Account research – per hour
$50 Early Plan Closure Fee (plan closed within 3 mos. of opening)
$10 Mailing Fee (N/A Annual Statement)
$45 Returned item/NSF
From $200 – Estate Settlement (per account)
* Conditions Apply
A late payment charge of 2% is payable on any amounts outstanding after 60 days.
In respect to the payment of fees due to Western Pacific Trust Company (WPTC), all clients are required to (i) complete and submit WPTC’s Pre-Authorized Payment form, or (ii) complete and submit WPTC’s Credit Card Authorization form, or (iii) maintain a minimum cash balance of $500 in their accounts.
All fees are subject to applicable taxes. WPTC reserves the right to recover all out of pocket expenses, and to assess for extraordinary services not specified above.
Forms
WPTC requires account opening documents in one of the following formats:
- originally completed and signed (wet-signature) – send to WPTC’s address under my signature
- electronically completed and signed through “DocuSign” or “DropBox Sign” – WPTC does not send out the form in these programs; OR
- all WPTC forms are available through the MAKO Fintech digital onboarding program, available when WPTC’s Plan Administration team send the applicant an email-specific link.