Entities
AML
FATCA & CRS
POA
Potpourri
100
Only exist for TFSAs
Who's the successor holder?
100
This entity has an interest in the contract, is not directly involved in the purchase of the product, and is typically not identified anywhere on the contract.
What is a third-party?
100
This tax type requires tax jurisdiction declaration
What is non-registered?
100
Types of POA accepted by Manulife Investments outside Quebec.
What are limited POA, general POA and Continuing/Enduring POA?
100
In a segregated fund contract owned by a non-individual entity, this party should be named as beneficiary to receive the death benefit proceeds upon the annuitant's death.
Who is the contract owner?
200
They can limit the owner's capapcity to deal with their contract.
Who’s the irrevocable beneficiary?
200
This employment status is often used as an occupation which is not acceptable.
What is retired?
200
For proper tax reporting, this must be declated by the owner(s) at time of contract issue.
What is tax residence?
200
Manulife form that must be completed to allow a POA to act on behalf of a client.
What is the Client and Third-Party Identity Verification form (NN0975)
200
This form can be useful for clients who want to ensure that a beneficiary receives a controlled income.
What is the Annuity Settlement Option form?
300
Based on the contract set-up below, without this entity, the contract will end at time of death.
• Owner and annuitant: John
• Successor owner: Mary
• Beneficiary: Sam
Who’s the successor annuitant?
300
An expired government-issued photo ID may still be relied upon to confirm an existing client's identity when this requirement has been satisfied.
What is prior identity verification by the advisor while the ID was valid?
300
Form used to collect FATCA & CRS information for all non-individual owners.
What is the Corporate and Non-individual Identity Verification form NN1555?
300
Once a client is _________ , agent empowerment no longer applies.
What is being incapacitated/incompetent?
300
This province is the only one where most of the unlocking options must follow a multi-step process.
What is Manitoba?
400
They must be appointed as primary beneficiary if there is a successor annuitant on a RSP
Who’s the client’s spouse?
400
Your client falls under this category if they are a close relative of a Canadian high-ranking military official—such as a general.
What is a politically exposed domestic person (PEDP)?
400
Number of days an individual has to apply for a SSN (social security number) or ITIN (Individual taxpayer identification number) if they do not have one.
What is 90 days?
400
This requirement from the Manulife Advisor Code of Conduct must be met for an advisor to act as a Power of Attorney for a client.
What is a close family relationship?
400
For provincial locked-in funds, the pension jurisdiction under which they are governed is based on this criteria
What is the province of employment?
500
Only entity that does not change upon a transfer of ownership.
Who’s the annuitant?
500
Who’s information must be collected for a trust?
What are Settlors, trustees and trust beneficiaries
500
Non-financial company that earns most of its income from investments rather than from actively conducting a business.
What is a passive non-financial entity?
500
In Alberta, this is a legal document you make to name someone to make personal decisions for you in case you become incapable due to illness or injury.
What is a Personal Directive?
500
On a marriage breakdown, these three conditions must be met before a spousal flag can be removed from a contract.
• Proof of separation caused by breakdown
• No contributions in the last 2 calendar years
• No withdrawals in the year of the request