How to Transfer RRSP Cash from CIBC to CIBC Investor’s Edge Using a T2033

We have several long-term GICs with CIBC in an RRSP. We checked and we cannot transfer them directly to our Investor’s Edge account. However, as each of these GICs mature we instruct CIBC to convert them into cash deposited in an RRSP Daily Interest Savings account. Then we can finally move the money into our Investor’s Edge RRSP by completing a T2033 transfer form. Here’s how it works.

First the GICs Must Mature and be Converted to Cash

About 2 weeks before a GIC matures until about 2 weeks after it matures, we can contact our service representative at our CIBC branch to provide instructions. We advise them, in writing, to allow the GIC to mature (not roll-over into a new term) to cash and to deposit the cash in our RRSP Daily Interest Savings account. It would be nice if we could just set these instructions ahead of time, like we can at ING Direct. Unfortunately, we can’t.

A week or two after the GIC matures, cashes and is deposited, CIBC advises us that the money has been deposited in the RRSP DIS account. Then it’s time to move it to Investor’s Edge.

How to Get a T2033 for Investor’s Edge

First we need the T2033 form to request the transfer from our CIBC RRSP to our CIBC Investor’s Edge RRSP. To get the form:

1. Sign on to your account/s.
   1. Go to https://www.investorsedge.cibc.com/ie/index.html
   2. In the User ID field, type your User ID.
   3. In the Password field, type your password.
   4. Click on the Sign On button.
2. From the list on the left side of the screen, click on the link: Forms Centre
3. Click on the Transfers tab.
4. Click on the PDF link for Transfer Authorization for Registered Investments.
5. On legal paper, print the 4 page form. (You can also pick up this form at any CIBC branch.)
6. Click on the Sign Off button.
7. For extra security, close your Browser session

Information Required to Fill Out the T2033 Form to Transfer your RRSP Cash

To fill out the T2033 form to transfer funds from a CIBC RRSP to an Investor’s Edge RRSP you will need to know

Your CIBC branch transit number.

For your contact at that CIBC branch, the person’s

• Name, email address, telephone number and extension, and fax  number

• Your own name; mailing address; social insurance number; date of birth

For your spouse (if applicable):

• name; social insurance number

The receiving institution will already be selected if you print the form from the Investor’s Edge website. Otherwise you will need to know it is

• CIBC Investor’s Edge (IE) 1 800 567 3343, Dealer Code 9479

Your registered type, RRSP

• Your RRSP plan number for your Investor’s Edge account
• Your delivering institution
  For a daily interest savings account, this will be CIBC Fixed Term Consumer Deposits

For your Registered Type, RRSP,

• Your delivering institution is your bank branch and its address
• Your Planholder/Annuitant Account Number is the number for your RRSP Daily Interest Savings Account

You will need to decide
If you are transferring the entire amount or a partial amount. If partial, you will need to decide how much.

If there is any further identification available, you can list it in a field for Symbol and/or Certificate or Policy No and you can include an Investment Description.

How to Fill Out the T2033 Form to Transfer your RRSP Cash

At the time this was written, you could not fill out this form online. So you would have to print in the following information:
In the Branch Contact Information section, fill in the

• Transit
• Contact name
• Contact email address
• Telephone Number and Extension
• Fax Number

In the Client Information section, fill in your

• Last Name, First Name and Initials
• street Address, City, Province, Postal Code
• Social Insurance Number
• Date of Birth, in the format first three letters of the month, two numbers for the day, four numbers for the year

If applicable, also fill in your spouse’s

• Last Name, First Name, Initials
• Social Insurance Number

In the Receiving Institution Information

• Be sure that the CIBC Investor’s Edge box is selected.

In the Registered Type section

• Select the RRSP box.
• In the Plan/Account No. box, fill in the number of your Investor’s Edge RRSP account.

In the Client Instructions to Delivering Institution section

• Be sure that the CIBC Fixed Term Consumer Deposits box is selected. (or another choice if appropriate)

In the Registered Type section

• Select the RRSP box.
• Write the street Address, City, Province, and Postal Code for the branch where your RRSP daily interest account is managed.
• In the Plan/Account No. box, fill in the number of your CIBC RRSP account.

In the Transfer Type section,

• Select All in-kind or Partial as listed below, as appropriate.
• Select the In-Cash and Dollars boxes.
• In the Investment Amount field, write how many dollars you want to transfer.
• In the Symbol and/or Certificate or Policy No. field, write RRSP DIS (if applicable)
• In the Investment Description field, write any other instructions. For example, I wrote: Please transfer 100,000 and leave the balance in the Daily Interest Savings Account. (OK, maybe that’s not totally true.)

In the Client Authorization Section

• Date and sign the form.

How to Submit the RRSP Transfer Request

Unlike BMO InvestorLine where you can simply mail in your transfer request, it appears you have to send in the CIBC Investor’s Edge requests by fax to Wholesale Brokerage Operations at 1 800 285 9620 preferably from your CIBC Branch.

To avoid mistakes, we took our request to our Branch Advisor and had her fax it in to Investor’s Edge.

And now we wait. I’ll update this post when the money arrives in the Investor’s Edge account.You may want to get a coffee or something. : )

UPDATE: Ok, I’ve posted the results in: CIBC vs ING Direct to Investor’s Edge RRSP: the Race is On.

Related Reading

• How to Transfer Cash to an RRSP at ING Direct from another RRSP Using a T2033 Form
• How to Transfer Assets to a BMO InvestorLine Account from Another Bank Using a T2033 Form
  

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Did you move RRSP money into Investor’s Edge using a T2033 transfer? Did it go smoothly? Please share any quirks you encountered with a comment.