Taxable (non-registered) Accounts
Can I open a taxable (non-registered) account with Polaris?
Yes, Polaris supports taxable (non-registered) accounts.
Can I have more than one taxable (non-registered) account open at a time with Polaris?
Yes, you can have multiple taxable (non-registered) accounts open at once.
Can I transfer an existing taxable account (non-registered) I have at another financial institution?
Yes, you can transfer an existing taxable (non-registered) account. We prefer that all existing investments in the account be sold prior to the transfer but we will accommodate situations where this is not practical.
Does it cost anything to transfer a taxable (non-registered) account from another financial institution?
Most financial institutions charge a transfer fee when a client moves their account to another institution. In most cases, this fee is approximately $125. However, our custodian (BBS Securities Inc.) will refund transfer fees for Polaris clients up to a maximum of $125 providing their account size is at least $25,000.
Are there tax implications associated with transferring a taxable (non-registered) account?
The sale of existing investments may result in capital gains which is will be taxed. If you transfer securities in-kind there are no capital gains triggered.