NB: This post was originally published on Nov. It was extensively edited and updated on Nov. I have received a couple of emails that the process of opening a new TD Mutual fund account in order to buy the e-Series index funds described in this post is not mutual funds pdf notes clear. I regret that I did not do a better job of explaining and hope to make the process clearer in this post.
As an aside, I would like to point out I have no specific financial interest in writing this post. You can apply for a SIN card at any Service Canada location. Apply for a TD Mutual Funds RESP Account It is very easy to open a TD e-Series Mutual Fund Account if you are opening a RRSP or Investment account. You simply print out this application form and follow the instructions in the form. However, opening a TD e-Series RESP account is a slightly more complicated two-step process. First, you have to open a TD Mutual Funds RESP account.
You can do so by making an appointment with an advisor at a nearest TD Canada Trust Branch or by mail. You do not have to be a current customer of TD Canada Trust to open a TD Mutual Fund RESP Account. Convert RESP account to a TD e-Series Account After you receive paperwork in the mail that your TD RESP mutual fund account is open, you need to apply to convert it into a TD e-Series Funds account. A contribution will be made by pulling it out of the chequing account you provided with your initial application. In my experience, the CESG payments appear at the end of the month after which the contribution was made. Example: You made a contribution to your child’s CESG on Jan.
The CESG will be paid into the RESP account by the end of February. If you had waited until the end of January, the CESG payments might be delayed until March. CC, what kind of fees are involved with the TD RESP account? There are no fees other than the low MER for the e-Series funds.