Transfer DRS shares to Wealthsimple

Overview

If you hold shares in Direct Registration System (DRS) form (for example, from a dividend reinvestment plan, a direct share purchase, or an inheritance), you can transfer them to a Wealthsimple non-registered account.

Eligibility

• Confirm with your DRS institution that your shares are transferable, and how many units are eligible.
• DRS transfers can only be set up into a non-registered Wealthsimple account. To move shares into a registered plan, like an RRSP or TFSA, first transfer to non-registered, then internally transfer them. This counts as a contribution and may have tax implications.
• Making a partial holdings request: contact our support team for assistance.

DRS institutions include:

• Computershare
• Odyssey Trust
• Olympia Trust
• TSX/TMX Trust
• Alliance Trust Company
• Capital Transfer Agency
• Endeavor Trust
• Integral Transfer Agency
• Marrelli Trust

How to transfer your shares

Step 1. Download your DRS statement

We'll ask for this when you set up the transfer, since we need to see your number of held units before proceeding.

Step 2. Set up the transfer in Wealthsimple

Step 3. Set up the transfer with your DRS institution (optional)

Once you've submitted the request in Wealthsimple, you can also initiate the transfer directly with your DRS institution. Doing this often speeds up the process. You'll need:

• Brokerage name: Wealthsimple Investments Inc.
• Address: 201-80 Spadina Avenue, Toronto, ON, M5V 2J4
• CUID or Broker Code: CSIT
• Dealer Number: 7829
• Rep Code: HX1
• Account number: found in My Documents

We'll email you if anything further is needed, or let you know once the transfer is complete. Questions? Contact our support team.

Transfer timelines

DRS transfers typically take 5–10 business days. A gap between shares leaving your old account and appearing in Wealthsimple is normal.

Related articles

• Transfer shares from an employee stock program to Wealthsimple