Add Account

Use this form to create an account and its initial Cash or Portfolio investment. Depending on the account type, you may continue to another form to provide details specific to that account. Complete each form until you reach the account’s investments.

Select the account type (non-registered, RRSP, TFSA etc.) from the drop-down menu.

Enter the type as it is today. In the TIME MACHINE, changes to the account type and features (account conversions) will be made as is appropriate to correctly calculate taxes and deposit/withdrawal limits.

We think of an account as a list of all of the investments that it holds. The account itself does not hold any value. Once you create an account, a "Cash" investment will be automatically created for it.

For banking accounts, "Cash" may be the only investment it holds. The balance that you enter here will then be deposited into that "investment". The growth rate you select will be the income yield of the Cash Investment (you can always change that later when you edit the investments).

For investment accounts, if you enter an asset allocation for a portfolio (see below), the balance that you enter here will then be deposited into a newly created portfolio investment instead of "Cash".

IMPORTANT: From then on, you will not be able to edit the balance of the account; it will always be calculated for you as the sum of the investments that it holds.

The currency of the Cash investment. If the currency within the account is not set to Canadian dollars, the currency exchange rate will be calculated automatically and updated daily (see RATES/YIELDS/CURRENCIES for details). You will be able to add investments in any currency later.

A minimum (positive) balance can be set for the account, and it will be honoured by the TIME MACHINE.

If maintenance fees are charged for holding the account, you will need to enter them as fees in the Cash investment.

Optional. This is for investment accounts for which you do not want to track with Fundata or Wealthica and you will not be entering all your investments.

In that case, a "Portfolio" investment will be automatically created to reflect your investment portfolio. You will be able to edit and update it manually.

Enter the % allocations to fixed income and to equities. Any remaining % is treated as cash.

The Owner field is shown only if you have a spouse

If you have a spouse, you can make the account owned by either spouse or held jointly.

Registered accounts generally cannot be jointly owned. RESP subscriber and RDSP holder information will be confirmed on their account-specific forms.

CCPC accounts will automatically have the CCPC set as owner.

You can name your spouse, or your child(ren), as the beneficiary/beneficiaries for the account, or you can set your Estate as the beneficiary.

Upon the passing of an account holder, the account ownership in the TIME MACHINE will transfer to the spouse of the account holder (if they have been set as the beneficiary). The beneficiary of the transferred account will then be the new owner's Estate.

For RESPs and RDSPs, beneficiary information is entered on the account-specific form. IRA beneficiary treatment is also entered on its detailed form. CCPC accounts do not use this beneficiary selection.

Entering a name is advised, but it is optional and will be generated automatically if left blank.

Depending on the account type, you may continue to another form to provide details specific to that account. Complete each form until you reach the account’s investments.