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CRA Declaration Required
November 1, 2019
9:55 pm
commonboy
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February 14, 2019
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Did anyone get this email from Motive?CRA_Declaration.PNG

November 2, 2019
4:09 am
Bill
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September 11, 2013
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Got and returned it about 6 weeks ago.

November 2, 2019
7:46 am
hwyc
GTA
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I think making declarations are the new normal to holding personal bank accounts in Canada. ... tax residency along side with PEP and no third-party

November 2, 2019
1:26 pm
Londonguy
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I got one in the email on Friday too. I completed and sent it back today with a note asking if I hadn't already filed the same form with them when I opened the account in May. Think I'll get an answer?

November 2, 2019
3:01 pm
MG
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I also received one yesterday by email. I may call them as I have two accounts and am wondering if I should write both account numbers on the declaration. I do not really like sending my SIN over the internet - what do you all think?

Considering that this has been required since July 2017, they can't be too fussy about how quickly we reply, right?? sf-confused

November 2, 2019
8:30 pm
Nehpets
Ontario
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MG said
..... I do not really like sending my SIN over the internet - what do you all think?.....  

Agreed! Sending sensitive information via email is irresponsible and should not be requested by any financial institution. Regular unsecured email is subject to being intercepted by malicious actors, as has been reported in this Forum discussion of money transfer interceptions.

Internet activity has become so common place that individuals and even business has become desensitized to internet security safety.

If a FI does not have a secure mail system available, I would insist on using regular paper mail or courier for sensitive documents containing, SIN's, account numbers or other personal information.

Stephen

November 3, 2019
6:11 pm
Londonguy
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MG said
I also received one yesterday by email. I may call them as I have two accounts and am wondering if I should write both account numbers on the declaration. I do not really like sending my SIN over the internet - what do you all think?

Considering that this has been required since July 2017, they can't be too fussy about how quickly we reply, right?? sf-confused  

So mail it back instead if you feel more secure with Canada Post handling your SIN

November 4, 2019
10:32 am
gicjunkie
Ontario
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November 7, 2014
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Just got this from Motive. I think they got a lot of calls about the forms. Their phones have been very busy. It may be that you only have to phone them to confirm your info.

"Hello,

As part of our regular account maintenance we need to validate your basic non-financial information that we have on file. Regulatory Compliance regulations requires us to ensure our client information remains up to date. Therefore we would like to have a moment of your time to verify some details. If you could please give us a call at 1-877-441-2249, Monday to Friday from 7:00 a.m. - 4:45 p.m. MST we would greatly appreciate it.

The process will only take a few minutes of your time and will help us ensure that we have the most up to date information on file for you and your account.

If you would like any additional information on this, you can read about this regulatory requirement on the FINTRAC website: https://www.fintrac-canafe.gc.ca/guidance-directives/client-clientele/omr-eng.

Thank you,
Adam
Division Manager, Motive Financial"

November 4, 2019
2:01 pm
SaverJunior
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March 16, 2018
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Clients have to declare their tax residency information during any online account application process including Motive. I already told them that they have the info needed on file. I am NOT going to bother sending in that redundant form that can compromise personal security.

November 5, 2019
11:34 am
gicjunkie
Ontario
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I finally got a human to speak to at Motive to confirm to them that none of our info has changed. No need to send in forms.

November 6, 2019
6:50 am
dougjp
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January 9, 2011
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Possibly the worst 'out of the blue' e-mail communication by a financial institution yet. I talked to them twice about it. Seeing this topic today I figured there would be lots of people highlighting the errors.

First of all, my commonly used e-mail program tagged this e-mail as a possible scam, a very rare occurrence. Second, the link to a form in the first paragraph, when mouse-over, shows a URL that has nothing to identify it with a CRA site - a common ploy for a virus attachment. Surprised anyone would click on this! Paragraph 3 did have a CRA link that could be identified, so why didn't they point people to the CRA for the form instead of what they did in paragraph 1? Then they send an e-mail Friday night when the bank is closed. Also when going to 'messages' inside my account, there are none shown!

I thought for sure this was a virus scam. I'm really steamed that a bank would do this.

Meanwhile, in contrast, Bridgewater sent me a letter with a form and stamped self addressed envelope.

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