Registered Plan Trusteeship (RRSP, RRIF, RESP, TFSA)

Under a Commercial Trusteeship arrangement, Concentra Trust is appointed as the trustee by your organization and retains ultimate responsibility for your organization’s registered plan (RRSP, RRIF, RESP & TFSA) products. In turn, Concentra appoints your organization as our Agent and delegates all administrative duties to you, as Agent, to perform.

Concentra Trust is a wholly-owned subsidiary of Concentra Financial

Designed to help your organization:
  • Expand your product offerings to meet a wider range of client needs.
  • Enjoy peace of mind with the knowledge that a professional, impartial trustee is monitoring the registered plans.

Concentra Trust provides:

  • Skilled professionals to continually monitor, interpret and ensure compliance with the Income Tax Act and Canada Revenue Agency (CRA) administrative policies.
  • Preparation and execution of trust agreements.
  • Obtain CRA approvals of RRSP, RRIF and TFSA specimen plans – applications, declarations of trust - and federal and provincial locked-in addenda.
  • Liaison with CRA.
  • Web-based access to legislative and support manuals.
  • Periodic updates to taxation and legislative information.
  • Preparation and filing of required annual tax returns.
  • Appointment of your organization as agent for the trust.
  • Easy access for your organization’s staff to obtain ongoing support and assistance via phone, fax or email.
  • Assist with CRA approved RESP specimen plans - application and terms and conditions.

Your organization:

  • Appoints Concentra as the trustee of the registered plans.
  • Acts as Promoter for RESP.
  • Enters into a Promoter Agreement with Human Resources and Skills Development Canada (HRSDC) for RESP.
  • Accepts the Delegation of Duties assigned by Concentra with respect to federal and provincial grants/bonds on RESP.
  • Completion of monthly reporting to HRSDC.
  • Completion of annual reporting to CRA for TFSA.
  • Maintains responsibility for product promotion, sales, client relationship management, day-to-day plan administration, data system operation and client statements.