Let's get it together Ontario for the sake of all residents (and former residents)

The submission deadline for Ontario's unclaimed Property Program has been delayed until Sept 18th. I guess the thought is that we are already 40+yrs behind the US & so what’s a few more weeks especially when the weather is so delightful.

But sadly, this is the second try for Ontario (!)

Ontario was the first province to pass Unclaimed property legislation in Canada (1989). 22 years later it was still not in force and the Bill was repealed.

Of my many suggestions to the Attorney General here is one….

No more push to paperless until Canada gets all Provinces onboard with Unclaimed Property Legislation.

Yesterday I got a note from my RESP provider (Invesco Trimark). No more PRINTED semi-annual statements effective 2014. Not cool because this increases the risk that any funds with Invesco Trimark will go unclaimed. But Age Unfriendly as well. Do all Invesco Trimark Investors have online access? Really? 

The US considers such legislation as an important component of Consumer Protection Legislation-and it is! So...why are we some 40 years behind? The US has $58B in unclaimed funds/property despite the program but searching for assets is much easier.

In Canada ? The total is at least $4B and the searching is difficult. 

Read more on submissions to Ontario's Unclaimed Property Program