FAQ: Taxable (non-registered) Accounts
Can I open a taxable (non-registered) account with Polaris?
Yes, Polaris supports taxable (non-registered) accounts.
How do I open a taxable (non-registered) account?
To open a taxable (non-registered) account, please visit our Get Started page. If you have any questions, you can also email, chat or call us.
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; however all existing investments in the account will usually need to be sold prior to the transfer. Polaris typically only accepts cash transfers, not securities. You will also need to open the account with Polaris before the transfer can be done.
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 financial institution. In most cases, this fee is approximately $150. However, our custodian (BBS Securities Inc.,) will refund this transfer fee for Polaris clients up to a maximum of $150.
Are there tax implications associated with transferring a taxable (non-registered) account?
Polaris typically does not support the transfer of securities to fund new accounts. Any investments in an existing taxable (non-registered) account will usually need to be sold before you can transfer the account to Polaris. The sale of existing investments may result in capital gains which is will be taxed.