New Hardship Unlocking Forms for 2007

January 1, 2007

To all owners of Ontario locked-in accounts (locked-in retirement accounts, life income funds and locked-in retirement income funds):

Form 5 - 2007 Unlocking Instructions and Application - for unlocking applications made to financial institutions

The Financial Services Commission of Ontario has produced a revised form for applications to a financial institution to withdraw money from an Ontario locked-in account based on shortened life expectancy, a small account balance at age 55 or amounts exceeding federal Income Tax Act limits (Form 5). The revised Form 5 is to be used for these kinds of unlocking applications signed on or after January 1, 2007.

The Form 5 - 2007 Unlocking Instructions and Application are also available by calling the Financial Services Commission of Ontario at 416-250-7250 or toll free at 1-800-668-0128 to have the form sent to you.

Form 6 - 2007 Financial Hardship Unlocking Instructions and Application - for all categories of financial hardship (except those on Form 5)

The Financial Services Commission of Ontario has produced a revised form for applications to the Superintendent of Financial Services for consent to withdraw money from an Ontario locked-in account based on one or more of the seven categories of financial hardship (Form 6). The revised form reflects the increased limits in several categories for 2007. The revised Form 6 is to be used for financial hardship applications signed on or after January 1, 2007.

The Form 6 - 2007 Financial Hardship Unlocking Instructions and Application are also available by calling the Financial Services Commission of Ontario at 416-250-7250 or toll free at 1-800-668-0128 to have the form sent to you.

Form 6.1 - 2007 Financial Hardship Unlocking Instructions and Application - for low income financial hardship only

The Financial Services Commission of Ontario has also produced a revised shorter form for applications to the Superintendent of Financial Services for consent to withdraw money from an Ontario locked-in account based on the low income category of financial hardship (Form 6.1). The revised form reflects the increased amounts for 2007. The revised Form 6.1 is to be used for financial hardship applications signed on or after January 1, 2007.

The Form 6.1 - Financial Hardship Unlocking Instructions and Application are also available by calling the Financial Services Commission of Ontario at 416-250-7250 or toll free at 1-800-668-0128 to have the form sent to you.

NOTE: If you are applying to the Superintendent for consent to withdraw money from your locked-in account (Form 6 or Form 6.1) for financial hardship unlocking under more than one category, you should complete only Form 6. In this way, only one application fee will be applied to the total of the withdrawals approved under the application. If you apply using both Form 6 and Form 6.1, you will be charged two application fees.

More information about the categories of financial hardship unlocking and the financial hardship applications is available on this website.

For free help in filling out the forms, to obtain copies of the forms or if you have any other questions, contact the Financial Services Commission of Ontario at 416-250-7250 or toll free at 1-800-668-0128.

 
Follow FSCO on social media  

Outage  Scheduled Online Service Disruption Notice
Please consult our outage schedule for more details.