ELECTRONIC SIGNATURES AND DESIGNATION OF PLAN BENEFICIARIES
There has been a marked increase in the use of electronic signatures in corporate and commercial activities in recent years. Electronic signatures have become a critical means for IIAC members to conduct business, particularly during the COVID 19 pandemic. In 2020, the IIAC called on the provinces to permit the use of electronic signatures for designating beneficiaries on Registered Plans such as RRSPs, RRIFs and TFSAs. We are pleased that several provinces amended their legislation accordingly. This past week, the IIAC wrote to the remaining provinces requesting clarification on the use of electronic signatures or to encourage necessary legislative amendments.
For additional information, please contact Jack Rando.