How to redeem
You can redeem some or all of your CSBs directly through secure online
access at
www.mybonds.gc.ca. If you do not have internet access, you can use
our toll-free phone service at 1 877 899-3599, Monday to Friday,
8 am to 8 pm (ET), and either use the automated service option or speak
to a Customer Service Representative. Requested funds will be deposited
directly to your bank account within three business days, while any
remaining balance will continue to earn interest.
If redemption is requested in the first three months after the issue
date, no interest is paid, and no partial redemptions are allowed. Also,
an employee's purchase amount will be held for 15 days from the date the
Bank of Canada receives that purchase amount. You must arrange with the
Bank of Canada to have the redemption payment deposited directly into
your personal bank account.
If bonds are owned by more than one person, or the owner is not the
employee, arrangements for direct deposit of payments can be made by
contacting Customer Service toll-free at 1 877 899-3599, Monday
to Friday, 8 am to 8 pm (ET).
Redemption requests from The Canada RSP should be made in writing to:
Canada Savings Bonds
Registered Products
P.O. Box 2390, Station D
Ottawa, Ontario
K1P 1K8
For more information please call 1 877 899-3599, or 1 800
354-2222 (TTY/Teletypewriter).
Bond owners receive an annual statement (as at December 31) listing bonds
held, interest earned, and bond purchases and redemptions for the year
as well as plan balance. If the accumulated annual interest is equal to,
or more than $25, a T5 receipt will be issued for income tax purposes.
Note that withdrawals from RRSPs are subject to withholding tax.
Bond owners with investment in The Canada RSP receive semi-annual
statements (as at June 30 and December 31) listing bonds held, accrued
interest,
bond
purchases and redemptions for the period, as well as plan balance. |
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