Bank of Canada Business Rules Canada Savings Bonds

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					Canada Savings Bonds                                                                             Bank of Canada Business Rules
the way to save. guaranteed.                                         Print




TESTATE - DIED WITH A WILL



                                 LIMIT WITHOUT       REQUIRED DOCUMENTS TO COMPLETE A TRANSFER/REDEMPTION
DIVISION OF ESTATE                                   NOTE: Any variation in the transaction request from what is set out in the
                                 PROBATE
                                                     Will, will require Probate

Letters Probate                  N/A                   ü Notarial or Court certified copy of Letters Probate (copy of the Last Will
                                                         and Testament annexed).
Executor(s) will divide the
estate between the                                     ü Completed Transfer Form (2351) ETRF signed by the executor/s
beneficiaries in the Last Will                           appointed in Letters Probate.
and Testament
                                                       ü Signature of executor(s) must be guaranteed by a Canadian financial
Note: Bond series issued                                 institution acceptable to the Bank of Canada or the form must have been
on or after November 1,                                  signed in front of a notary public, who must also sign and seal the
2008 (i.e., CSB S114 and                                 document .
higher, as well as CPB
P064 and higher) will no
longer be eligible to be
transferred in the name of
the estate.


Specific Bequest of bonds Unlimited                    ü All documentation required for a non probated Will (e.g., Notarial copy of
                          (Par value of the              Will / Proof of Death) which is acceptable to the Bank and completed
                          bonds)                         Transfer Form (2351) ETRF signed by all executors with signature
                                                         guaranteed by a Canadian financial institution or the form must have
                                                         been signed in front of a notary public, who must also sign and seal the
                                                         document acceptable to the Bank of Canada.


Spouse is the sole               $75,000               ü Notarial certified copy of the Will.
beneficiary under the Will       (Par value of the
                                 bonds)                ü Proof of death acceptable to the Bank of Canada.

                                                       ü Completed Transfer Form (2351) ETRF signed by all executors named
                                                         in the Will.

                                                       ü Signature of executor(s) must be guaranteed by a Canadian financial
                                                         institution acceptable to the Bank of Canada or the form must have been
                                                         signed in front of a notary public, who must also sign and seal the
                                                         document.

                                                       ü In the case of Wills containing cash bequests, proof of payment of the
                                                         bequest with a release signed by the recipient in front of a witness is
                                                         necessary before accepting any transaction with respect to bonds.




                                                       Page 1 of 6
Canada Savings Bonds                                                                        Bank of Canada Business Rules
the way to save. guaranteed.                                Print




Children are the sole          $50,000             ü Notarial certified copy of the Will.
beneficiary/ies under the Will (Par value of the
(no surviving spouse)          bonds)              ü Proof of death acceptable to the Bank of Canada.

                                                   ü Proof of death of the spouse which is acceptable to the Bank of Canada.

                                                   ü Completed Transfer Form (2351) ETRF signed by all the executors and
                                                     all the beneficiaries named in the Will.

                                                   ü Signature of executor(s) must be guaranteed by a Canadian financial
                                                     institution acceptable to the Bank of Canada or the form must have been
                                                     signed in front of a notary public, who must also sign and seal the
                                                     document.

                                                   ü In the case of Wills containing cash bequests, proof of payment of the
                                                     bequest with a release signed by the recipient in front of a witness is
                                                     necessary before accepting any transaction with respect to bonds.



Spouse & Children are the      $50,000             ü Notarial certified copy of the Will.
sole beneficiaries under the   (Par value of the
Will                           bonds)              ü Proof of death acceptable to the Bank of Canada.

                                                   ü Completed Transfer Form (2351) ETRF signed by all the executors and
                                                     all the beneficiaries named in the Will.

                                                   ü Signature of executor(s) must be guaranteed by a Canadian financial
                                                     institution acceptable to the Bank of Canada or the form must have been
                                                     signed in front of a notary public, who must also sign and seal the
                                                     document.

                                                   ü In the case of wills containing cash bequests, proof of payment of the
                                                     bequest with a release signed by the recipient in front of a witness is
                                                     necessary before accepting any transaction with respect to bonds.


Children are the sole          $50,000             ü Notarial certified copy of the Will.
beneficiaries under the Will   (Par value of the
(Spouse alive)                 bonds)              ü Proof of death acceptable to the Bank of Canada.

                                                   ü Completed Transfer Form (2351) ETRF signed by all the executors and
                                                     all the beneficiaries named in the Will.

                                                   ü Signature of executor(s) must be guaranteed by a Canadian financial
                                                     institution acceptable to the Bank of Canada or the form must have been
                                                     signed in front of a notary public, who must also sign and seal the
                                                     document.

                                                   ü Release from surviving Spouse which must be witnessed.

                                                   ü In the case of Wills containing cash bequests, proof of payment of the
                                                     bequest with a release signed by the recipient in front of a witness is
                                                     necessary before accepting any transaction with respect to bonds.



                                                     Page 2 of 6
Canada Savings Bonds                                                                           Bank of Canada Business Rules
the way to save. guaranteed.                                  Print




Parents, siblings or other $20,000                   ü Notarial certified copy of the Will.
family members are the sole (Par value of the
beneficiaries under the Will bonds)                  ü Proof of death acceptable to the Bank of Canada.
(no spouse)
(no children)                                        ü Proof of death of spouse (if applicable).

                                                     ü Completed Transfer Form (2351) ETRF signed by all the executors and
                                                       all the beneficiaries named in the Will.

                                                     ü Signature of executor(s) must be guaranteed by a Canadian financial
                                                       institution acceptable to the Bank of Canada or the form must have been
                                                       signed in front of a notary public, who must also sign and seal the
                                                       document.

                                                     ü In the case of wills containing cash bequests, proof of payment of the
                                                       bequest with a release signed by the recipient in front of a witness is
                                                       necessary before accepting any transaction with respect to bonds.


Common Law Spouse,         $20,000                   ü Notarial certified copy of the Will.
same sex partner or friend (Par value of the
is the sole beneficiaries  bonds)                    ü Proof of death acceptable to the Bank of Canada.
under the Will
                                                     ü Proof of death of spouse (if applicable).

                                                     ü Completed Transfer Form (2351) ETRF signed by all the executors and
                                                       all the beneficiaries named in the Will.

                                                     ü Signature of executor(s) must be guaranteed by a Canadian financial
                                                       institution acceptable to the Bank of Canada or the form must have been
                                                       signed in front of a notary public, who must also sign and seal the
                                                       document.

                                                     ü In the case of wills containing cash bequests, proof of payment of the
                                                       bequest with a release signed by the recipient in front of a witness is
                                                       necessary before accepting any transaction with respect to bonds.

Double Estates                   $50,000             ü Notarial certified copy of the Will for both bond owner and spouse.
(between spouses)                (Par value of the
                                 bonds)              ü Proof of death of the bond owner and spouse acceptable to the Bank of
Bond owner is deceased                                 Canada.

Bond owner's spouse is                               ü Two completed Transfer Forms (2351) ETRF signed by the appropriate
deceased                                               executors and beneficiaries named in the Wills of both deceased.
                                                       One Transfer Form (2351) ETRF would transfer the bonds from the
Children are the beneficiaries                         deceased bond owner to the estate of the spouse and the second would
                                                       transfer the estate to the spouse's beneficiaries.

                                                     ü Signature of executor must be guaranteed by a Canadian financial
                                                       institution acceptable to the Bank of Canada or the form must have been
                                                       signed in front of a notary public, who must also sign and seal the
                                                       document.

                                                     ü In the case of wills containing cash bequests, proof of payment of the
                                                       bequest with a release signed by the recipient in front of a witness is
                                                       necessary before accepting any transaction with respect to bonds.
                                                       Page 3 of 6
Canada Savings Bonds                                                                                Bank of Canada Business Rules
the way to save. guaranteed.                                       Print




Organization                     Not accepted             ü Notarial certified copy of Letters Probate (copy of the Last Will and
(e.g., charities, churches, etc. without probate            Testament annexed).
sole beneficiary under the
Will)                                                     ü Completed Transfer Form (2351) ETRF signed by all the executors

                                                          ü Signature of executor(s) must be guaranteed by a Canadian financial
                                                            institution acceptable to the Bank of Canada or the form must have been
                                                            signed in front of a notary public, who must also sign and seal the
                                                            document



Trust in the Will               Not accepted              ü Notarial certified copy of Letters Probate (copy of the Last Will and
(the residue must be kept       without probate             Testament annexed).
invested)
                                                          ü Completed Transfer Form (2351) ETRF signed by all the executors.

                                                          ü Signature of executor(s) must be guaranteed by a Canadian financial
                                                            institution acceptable to the Bank of Canada or the form must have been
                                                            signed in front of a notary public, who must also sign and seal the
                                                            document.




BONDS WITH SPECIAL REGISTRATIONS


                                LIMIT WITHOUT            REQUIRED DOCUMENTS TO COMPLETE A TRANSFER/REDEMPTION
REGISTRATION                    LETTERS OF
                                ADMINISTRATION


Co-owners                       Refer to estate limits    ü Letter of direction is required or the Transfer Form (2351) ETRF signed
(two or more names without of the deceased                  by the surviving co-owners before a witness authorizing the splitting of
survivorship)                   owner's share               the bonds and the release of the deceased's share.
Estate of the deceased owner
is entitled to the deceased's                             ü Refer to the appropriate transaction type for the estate documents
portion of the par value of the                             required.
bond.

Note: This registration only
applies to series issued
PRIOR to November 2008
(i.e., CSB series up to and
including S113 and CPB
series up to and including
P063).




                                                              Page 4 of 6
Canada Savings Bonds                                                                            Bank of Canada Business Rules
the way to save. guaranteed.                                     Print




Sole proprietorship           Not accepted           ü Refer to the transaction Letters Probate or Letters of Administration on
(e.g., Mary Smith carrying on without probate          page 1 for estate documents required.
business as Mary's Flower
Shop)                                                ü Please note that the bonds have to be redeemed.

Note: This registration only
applies to series issued
PRIOR to November 2008
(i.e., CSB series up to and
including S113 and CPB
series up to and including
P063).


INTESTATE - DIES WITHOUT A WILL


                                LIMIT WITHOUT       REQUIRED DOCUMENTS TO COMPLETE A TRANSFER/REDEMPTION
DIVISION OF ESTATE              LETTERS OF
                                ADMINISTRATION


Letters of Administration       N/A                  ü Notarial or court certified copy of Letters of Administration.

Note: Bond series issued                             ü Completed Transfer Form (2351) ETRF signed by the Administrator(s)
on or after November 1,                                named in the Letters of Administration.
2008 (i.e., CSB S114 and
higher, as well as CPB                               ü Signature of the Administrator must be guaranteed by a Canadian
P064 and higher) are not                               financial institution acceptable to the Bank of Canada or the form must
eligible to be transferred in                          have been signed in front of a notary public, who must also sign and
the name of the estate.                                seal the document.




Spouse claiming bonds           $75,000              ü Proof of death acceptable to the Bank of Canada.
(no children)                   (Par value of the
                                bonds)               ü Completed Transfer Form (2351) ETRF signed by spouse.

                                                     ü Signature must be guaranteed by a Canadian financial institution
                                                       acceptable to the Bank of Canada or the form must have been signed in
                                                       front of a notary public, who must also sign and seal the document.


Spouse and Children             $50,000              ü Proof of death acceptable to the Bank of Canada.
claiming bonds                  (Par value of the
                                bonds)               ü Completed Transfer Form (2351) ETRF signed by spouse and all
                                                       children of the deceased bond owner.

                                                     ü Signature(s) must be guaranteed by a Canadian financial institution
                                                       acceptable to the Bank of Canada or the form must have been signed in
                                                       front of a notary public, who must also sign and seal the document.




                                                       Page 5 of 6
Canada Savings Bonds                                                                       Bank of Canada Business Rules
the way to save. guaranteed.                                Print




Children claiming bonds        $50,000             ü Proof of death of the bond owner and spouse which are acceptable to
(no surviving spouse)          (Par value of the     the Bank of Canada.
                               bonds)
                                                   ü Completed Transfer Form (2351) ETRF signed by all the children of the
                                                     deceased bond owner.

                                                   ü Signature(s) must be guaranteed by a Canadian financial institution
                                                     acceptable to the Bank of Canada or the form must have been signed in
                                                     front of a notary public, who must also sign and seal the document


Children claiming bonds        $50,000             ü Proof of death of the bond owner acceptable to the Bank of Canada.
(Spouse alive)                 (Par value of the
                               bonds)              ü Completed Transfer Form (2351) ETRF signed by all the children of the
                                                     deceased bond owner.

                                                   ü Signature(s) must be guaranteed by a Canadian financial institution
                                                     acceptable to the Bank of Canada or the form must have been signed in
                                                     front of a notary public, who must also sign and seal the document.

                                                   ü A release from the surviving spouse signed before a witness.




Parents or siblings            $20,000             ü Proof of death of the bond owner acceptable to the Bank of Canada.
if parents deceased
                               (Par value of the   ü Completed Transfer Form (2351) ETRF signed by the parents or all
(no spouse)                    bonds)                siblings of the deceased bond owner.
(no children)
                                                   ü Signature(s) must be guaranteed by a Canadian financial institution
                                                     acceptable to the Bank of Canada or the form must have been signed in
                                                     front of a notary public, who must also sign and seal the document.

                                                   ü If parents deceased, we require proof of death acceptable to the Bank of
                                                     Canada.




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