Transfers

• How do I transfer accounts or investments held with another financial institution to BMO InvestorLine?
• What are the fees for transferring an account?
• How long will it take to complete the transfer?
• Can I transfer securities between BMO InvestorLine accounts?
• What are the fees for an internal transfer?

How do I transfer accounts or investments held with another financial institution to BMO InvestorLine?

Step 1: Obtain the Authorization to Transfer Account Form

• If you wish to transfer to an existing BMO InvestorLine account, sign in to your account, select the Account Services tab, and click on Forms. Under Other Forms, click on option 2, the Authorization to Transfer Account form (online form). It will pop up with your BMO InvestorLine Account and Applicant Information sections already filled out for your convenience.
• To transfer to a new account, select the Transfer an Account link under the Fund Your Account section on the BMO InvestorLine Online Application.
• You can also access the Authorization to Transfer Account form from our home page. Go to the Getting Started tab and click on Forms. Select the Authorization to Transfer Account form (online version) and complete it.

Please note: For registered account transfers, the Authorization to Transfer Account form replaces the required T2033 form.

Step 2: Complete the Authorization to Transfer Account Form

The transfer form consists of three main sections:

1. Account Information Section
• Enter your account information from the transferring institution, along with your BMO InvestorLine account number and type.
• Once you have selected an account type, we will provide you with a list of compatible account types. If they are not exact matches, the transfer, or a portion thereof, may not be accepted.
2. Transfer Details Section
• Select a full or partial transfer.
• For a full transfer, you have the option of transferring:
• The entire account in cash. All investments will be liquidated by the transferring institution at market on a best-efforts basis, subsequent to the receipt of the transfer form. This transaction will be subject to regular commission charges. To avoid delays, you may place the trades yourself with the transferring institution.
• The entire account in kind. All investments will be transferred in their existing form.
• The entire account mixed. You must list the investments and quantities you want transferred in kind (in their existing form), those to be liquidated, and the amount of the cash balance you wish to have transferred. Liquidation of investments will be processed by the transferring institution at market on a best-efforts basis, subsequent to the receipt of the transfer form.. This transaction will be subject to regular commission charges. To avoid delays, you may place the trades yourself with the transferring institution.
• For a partial transfer, you must list the investments and quantities you want transferred in kind (in their existing form), those to be liquidated, and the amount of the cash balance you wish to have transferred. Liquidation of investments will be processed by the transferring institution at market on a best-efforts basis, subsequent to the receipt of the transfer form. This transaction will be subject to regular commission charges. To avoid delays, you may place the trades yourself with the transferring institution.
• If you are transferring investments in kind:
• For mutual fund(s) in kind, please refer to the list of funds approved for transfer to a BMO InvestorLine account. If the mutual fund(s) you wish to transfer is not on this list, there may be delays in the process, and we may not be able to complete your transfer as requested.
• Guaranteed Investment Certificates (GICs) from banks or trust companies other than BMO Financial Group usually cannot be transferred in kind. These investments may be required to be redeemed and transferred in cash. Please verify with your transferring institution.
• If you are transferring investment products exclusive to BMO Bank of Montreal branches or BMO Mutual Funds in kind, you may forfeit related special product features (i.e., the option to redeem early without penalty, step-up interest rates, etc.). These include:
• Rate Riser Retirement GICs
• Rate Optimizer GICs
• Matchmaker Portfolios

Please note: We advise you to consult your BMO Bank of Montreal branch before transferring these products.

3. Applicant Information Section
• Enter your name, SIN, address and phone number, and the name of any applicable co-applicant.

Step 3: Print and Submit the Authorization to Transfer Account Form

• Print the form by clicking on the button at the bottom of the page.
• If the transfer form has not been filled in completely, you will receive a message notifying you of the missing information required.
• Sign and date the transfer form.
• Submit the form, along with a copy of your most recent statement from the transferring institution:
• By fax: 416-359-5607
  Please note: Some institutions may require original transfer forms. Credit unions, trust companies, foreign institutions and pension plans will not accept faxed copies.
• By mail:
  Attn: BMO InvestorLine
  Transit no. 3973
  First Canadian Place
  100 King St. W., Floor B1
  Toronto, ON M5A 1H3
• In person: At any BMO Bank of Montreal Branch or at our BMO InvestorLine Store:
  First Canadian Place
  100 King St. W.
  Concourse Level
  Toronto, ON M6M 5J3
  Store Hours: 8 a.m.–5 p.m. ET, Monday to Friday

What are the fees for transferring an account?

• Related fees are charged by the transferring institution and may vary depending on the institution; account type and size; type of investments held in the account; whether the transfer is full or partial; etc. Other fees may apply, such as commissions where an account is being transferred in cash and investments must be liquated. Please consult your transferring institution to determine the applicable transfer fees for your account.

How long will it take to complete the transfer?

• Transfer times vary depending on the institution and the investments being transferred.
• All required documentation must be received by BMO InvestorLine before any transfer can be completed. Below are general guidelines for approximate transfer times once documentation is received:
• BMO Nesbitt Burns: one to two weeks
• BMO Bank of Montreal:
  Cash or mutual funds: two to three weeks
  Guaranteed Investment Certificates (GICs): four to six weeks
• Brokers using ATON (Account Transfer Online Notification): two to three weeks
  Transfers of mutual funds may take longer.
  ATON-Eligible Institutions
• Non-ATON brokers: four to six weeks Mutual fund companies: three to four weeks
• Pensions, trust companies and insurance companies: four to eight weeks

Note: Missing and/or incomplete documentation may result in delays. During times of heavy volume transfers may take longer than expected.

Can I transfer securities between BMO InvestorLine accounts?

• Yes, internal transfers are acceptable, but conditions may apply. Please call a BMO InvestorLine representative at 1 888 776-6886 to verify whether your internal transfer request can be processed, and whether any documentation is required.

What are the fees for an internal transfer?

• Fees vary depending on the type of transfer.
• Below are general fees that may apply (subject to change without notice):

*Plus GST (and PST/QST, where applicable).

Tax Consequences

BMO InvestorLine is not responsible for any tax consequences that may result from the transfer of your account(s). Please consult a tax specialist prior to submitting your transfer request for details of any potential tax consequences which may apply.