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Get Ontario Form 5
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How to fill out the Ontario Form 5 online
The Ontario Form 5 is a crucial document for individuals seeking to withdraw or transfer funds from their Ontario locked-in accounts for specific reasons. This guide offers a clear and supportive walkthrough of each section of the form to assist users, regardless of their legal experience, in completing it effectively online.
Follow the steps to complete the Ontario Form 5 online.
- Click ‘Get Form’ button to obtain the form and open it in the editor.
- Begin by providing your personal details in Part 1, including your full name, date of birth, mailing address, and contact information relevant to your Ontario locked-in account.
- In Part 2A, specify your reason for withdrawal related to a shortened life expectancy, indicating the amount you wish to withdraw. Remember, you will need a supporting statement from a qualified physician.
- If you are over 55 and applying per Part 2B, indicate the total value of all your Ontario locked-in accounts and select whether to withdraw or transfer funds.
- For applications due to exceeding the Income Tax Act limit, complete Part 2C by indicating the requested withdrawal amount and ensure to provide a statement from your former pension plan administrator.
- If applying as a non-resident in Part 2D, fill in the date of your departure from Canada and include a written determination from the Canada Revenue Agency.
- In Part 3, certify your application by signing in the presence of a witness. Ensure the certification is dated no more than 60 days before submission.
- If applicable, have your spouse complete Part 4 to provide consent for the withdrawal or transfer, also in the presence of a witness.
- Should you need a physician's statement regarding your health condition, have them complete Part 5 or provide a separate written statement.
- Once all necessary parts are completed, submit the application directly to the financial institution managing your locked-in account, keeping a copy for your records.
Complete your documents online with ease and confidence.
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