Investing as a Canadian Investor

Modified on Thu, 12 Oct 2023 at 06:26 AM

If you are a Canadian citizenand do not have an ITIN, we will require additional information in order to process your investments.

Please note that credit cards are often declined for Canadian investors, and for this reason, we strongly recommend sending all funds by wire transfer. 

TIN for Canadian Investors 

For Canadians, please enter your 9-digit Canadian Social Insurance Number (SIN) in any fields that ask for a social security number.

For corporate entities, we will need your business number (BN); the nine-digit number the Canada Revenue Agency (CRA) has assigned to your entity.

In some cases, you may have a Québec Enterprises Number (NEQ) instead.

Investing with Retirement Accounts for Canadian Investors 

For Canadian retirement plans, like the Registered Retirement Savings Plans (RRSPs) or Tax-Free Savings Account (TFSA), you will need to open a Self-Directed RRSP or Self-Directed TFSA in order to invest in private offerings listed on Equifund. Whomever you choose to establish a self-directed RRSP may charge fees, including set-up fees, annual trustee fees, and transaction fees.

Owners of self-directed RRSPs are responsible for ensuring that their RRSP investments meet the legal requirements set by the Canada Revenue Agency. The penalty for not meeting these requirements is the loss of the income tax deduction. [source]

AML/KYC For Canadian Investors 

As a reminder, all non-US investors are required to submit additional documentation for identity verification.

In order to expedite the AML/KYC check, please upload the following documents to your account prior to making an investment, or immediately after doing so:

  • A valid government-issued identification: state-issued identification card, driver's license, or federally-issued passport are accepted. Military IDs are not accepted.

  • Proof of address (in English): Must be a utility bill, bank statement, or letter from a government agency, dated within the last 90 days.

Please be advised. That all proof of address documentation must be in English. For investors whose native language is not English, they may request an official translation of any accepted document, or otherwise request an “address verification” document from a financial institution in English.

The easiest way to get this done is to ask your bank for a document, on letterhead, stating something to the effect of "We certify that [Name of Investor] lives at [Address]"

Please be advised that we cannot legally process your transaction without these documents.

For more information on our AML/KYC policies – along with a step-by-step walkthrough on how to upload your documents – please refer to our knowledge base

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