What you need to know
Each of the provinces of Alberta, British Columbia, Quebec, and New Brunswick have enacted a regulatory regime concerning unclaimed property. As a result, NEI has implemented policies and procedures to locate investors for whom we are holding unclaimed property, if their last known address was in one of the four provinces or in certain other circumstances. Unclaimed property could include cash, account balances, interest or dividend payments, uncashed cheques, or securities (e.g., shares, mutual fund units, limited partnership units, et cetera). The circumstances in which property may be deemed “unclaimed” varies in each province, but may include :
- an NEI client has not indicated an interest in the account over a certain period of time;
- a communication or cheque has been mailed to an NEI client for whom we are holding an account and has been returned as “undeliverable”;
- a communication has been sent to a client for whom we are holding an account requesting that an action be taken by a specified date, and no action has been taken; or
- a cheque was sent to a client for whom we are holding an account and the cheque has not been cashed within 3 years.
Certain exemptions from the regulatory regime may exist where :
- the value of the unclaimed property is less than $250.00 for owners of accounts residing in the province of Alberta;
- the value of the unclaimed property is less than $50.00 for owners of accounts residing in the province of British Columbia; or
- the value of the unclaimed property is less than $100.00 for owners of accounts residing in the provinces of Quebec or New Brunswick.
Subject to the exemptions above, NEI is required to contact individual owners for whom we are holding unclaimed property. Efforts to locate such individuals may include, but are not limited to the following means:
- correspondence with investment professionals;
- searching our recordkeeping system for other existing accounts;
- public listing searches (telephone book, 411 assistance, www.canada411.ca and other electronic databases); and
- engagement of vendors that specialize in updating client information.
NEI maintains a list of unclaimed property owners whom we have been unable to contact. If you would like to request a search of our database, please contact NEI Client Services:
Tel : 416 594-6633
Toll-free : 1 888 809-3333
Fax : 416 594-3370
Toll-free : 1 888 809-4444
Hours of service
English : 8:30am to 8pm EST
French : 8:30am to 5pm EST
We will respond to your email within two business days.
You will be required to provide appropriate documentation to validate your status as the owner, heir or assignee.