SIN
Providing Your Email Address on Your Online Application
Privacy
Spouse's employment information
Investment account
Self-directed registered account (eg. RSP/RIF)
Joint investment account
Cash account
Margin account
Options
Short Selling
RSP - Retirement Savings Plan
Spousal RSP
RIF - Retirement Income Fund
PRIF - Prescribed Retirement Income Fund
LIRA - Locked-in Retirement Account
LRIF - Locked-in Retirement Income Fund
RLSP - Restricted Locked-in RSP (RLSP)
LIF - Life Income Fund
RLIF - Restricted Locked-in LIF
ESP - Education Savings Plan
TFSA - Tax-Free Savings Account
Non-Personal Account
Identification Verification
Trading Agent
Power of Attorney
Why we are asking - Primary Occupation, Job Functions, Industry, Funding Your Account
Your Security. Our Priority

SIN - We are required by the CCRA (Canada Customs and Revenue Agency) to ask for your SIN for tax reporting purposes.

Providing Your Email Address on Your Online Application
BMO InvestorLine uses email, phone, and the bmoinvestorline.com website to provide you with important, time-sensitive customer service and regulatory-related notices that are required to service our clients responsibly. As such we ask you to provide us with your phone number and email address to ensure we can reach you promptly. If you do not have an email address, please visit your local BMO branch to complete your application.

We also use email to inform you about products, services and online resources that are available to you. At any time you may opt-out of receiving this form of email communication by clicking ‘Unsubscribe’ within the email.

Privacy
BMO InvestorLine Inc. will not use your email address to send or ask for any confidential information about you. We will not sell or rent your e-mail address under any circumstances.

Why We Ask for Personal Information?
Some of the information we will ask for and use, either at the time of account opening or on an update basis (and in some situations to permit the maintenance of your account by us) is also required to satisfy the legal or regulatory requirements of federal and provincial governments and/or other regulatory authorities who may require access to your personal information and may be use or disclose the information. Some of the reasons that the regulatory authorities may collect, use and disclose your personal information include:

• Surveillance of trading-related activity,
• Sales, financial compliance, trade desk review and other regulatory audits,
• Investigation of potential regulatory and statutory violations,
• Regulatory databases,
• Enforcement or disciplinary proceedings,
• Reporting to securities regulators, and
• Information-sharing with other regulatory authorities.

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Spouse's employment information - We ask about your spouse’s employment information to determine if your account should be set up as a Pro account. If your spouse is employed with an IDA Member firm you are considered a Pro. To view the list of IDA Member firms visit www.ida.ca.

Investment account - An account that allows you to invest in a wide variety of securities including stocks, bonds, mutual funds and fixed income products. Investment accounts are not tax sheltered and any income, capital gains or losses realized in these accounts will have tax implications. Investment accounts hold both Canadian and U.S. currencies giving you the option to settle your transactions in either currency.

Self-directed registered account (eg. RSP/RIF) - Registered accounts are personal tax sheltered retirement savings plans for individuals earning income in Canada. You may make tax-deductible contributions to your RSP based on your earned income. Any income earned in the plan is generally tax exempt until you receive payments from the plan. Within a self-directed account you can invest in a wide variety of qualified securities including stocks, bonds, mutual funds and fixed income products. This plan must be matured (closed) by the end of the year in which you turn 69, at which time you can open a Retirement Income Fund (RIF).

Joint investment account - An account, which has two or more owners. Each owner has full power, without notice to any other owner, to operate the investment account in buying and selling securities and depositing or withdrawing money from the investment account. Joint accounts are only available for non-registered investment accounts (eg. cash and margin accounts).

Cash account - An investment account in which you can invest in a wide variety of securities including stocks, bonds, mutual funds and fixed income products. All purchases made in this account must be paid for in cash on the settlement date of the trade. For most stocks, bonds, and mutual funds, (except money market funds, T-bills and money market instruments, which are settled the same day), this is the third business day after the trade is executed. Cash accounts operate in both Canadian and U.S. currencies. Securities traded on U.S. exchanges can settle in your choice of Canadian or U.S. currency.

Margin account - An investment account in which a line of credit is available for eligible clients who wish to buy securities without paying for them in full. The term "margin" refers to the portion of funds the investor must provide, which together with the line of credit loan, is used to make the purchase. The credit limit fluctuates daily based on the valuation of the securities held in your BMO InvestorLine account. Margin trading is not allowed in registered accounts or on securities solely listed on the TSX Venture Exchange.

Options - Options trading requires a high degree of investment knowledge and experience and is not recommended for novice investors. Options are available in margin accounts. Limited options are available in Registered accounts.

An option is a contract or agreement between a buyer and a seller, based on a particular asset or security referred to as the underlying security. There are two types of options: Calls and Puts.

• A call option grants its holder (or buyer) the right to buy the underlying security at a specified price for a certain fixed period of time. The seller (or writer) of the call has the obligation, if called upon to sell the underlying security at the specified price until the end of that fixed period of time.
• A put option grants the holder (or buyer) the right to sell the underlying security at a specified price for a certain fixed period of time. The seller (or writer) of a put has the obligation, if called upon, to buy the underlying security at the specified price until the end of that fixed period of time.

You may buy or sell covered puts and calls on any exchange in Canada or the U.S. Registered accounts are restricted to buying equity calls and puts and selling covered equity calls only.

Short Selling - A high degree of risk is involved in the short selling of securities and may not be suitable for every investor. You may sell eligible securities that you do not own with the intention of buying them back at a later date at a lower price. This is a speculative practice that has many possible difficulties and inherent dangers.

The process is as follows:

• BMO InvestorLine attempts to borrow the stock, initially on the client's behalf to cover the short sale. BMO InvestorLine will not short what they can't borrow.
• It is the client's responsibility to maintain adequate margin in the short account as the stock price fluctuates.
• Stock will be bought in if:
  1. adequate margin is not maintained and/or
  2. if the originally borrowed stock is called by its owner

Short selling is available in margin accounts only. Short selling is not permitted in registered accounts or on securities that are listed only on the TSX Venture Exchange.

RSP - Retirement Savings Plan
RSPs are savings plans registered with Canada Customs and Revenue Agency into which you contribute savings or investments for retirement. One individual may have several RSPs and use them to invest in a variety of products such as mutual funds, GICs, stocks and bonds. There are two primary reasons Canadians invest in an RSP - the income tax saved when you make an RSP contribution, and because the income earned within an RSP is tax sheltered until it is withdrawn.

Spousal RSP
A spousal RSP is an effective method of income splitting. You may contribute to your spouse's RSP and claim the tax deduction. The RSP and any income generated becomes the property of the spouse. Generally, any withdrawals from the plan are taxed in the spouse's hands. However, funds withdrawn from the plan in the year of the contribution or the two years following are taxed in the contributor's name. This type of plan is available to married or common-law couples.

RIF - Retirement Income Fund
RSP accounts must be matured (closed) in the year in which the planholder turns 69. Rather than taking all of the funds into taxable income in one year, an alternative is to transfer the tax sheltered funds into a Retirement Income Fund (RIF).

You may not make new tax-deductible contributions to a RIF and you must withdraw a minimum amount each year commencing the year after you establish the RIF. Minimum withdrawals are based on the market value of the fund as of December 31 of the previous year and the planholder's age. There is no maximum limit for withdrawals from this plan. Income generated in the plan is tax sheltered, however, all withdrawals are taxable.

Prior to the first payment being received from a RIF, if your spouse is younger than you, you may choose to use your spouse's age rather than your own to determine the minimum payout amount. Once made, that choice is permanent.

PRIF - Prescribed Retirement Income Fund
A PRIF is similar to a regular Retirement Income Fund (RIF) but you can only transfer locked-in retirement funds to it. Funds within a PRIF cannot be combined with or transferred out to regular RIFs or other locked-in retirement accounts. PRIFs do not have a maximum annual withdrawal amount and they are creditor-protected, meaning creditors cannot access those funds in the case of insolvency or bankruptcy. Currently, these plans are only available in Manitoba and Saskatchewan.

LIRA - Locked-in Retirement Account
At some time during your career you may find yourself in a situation where you take on a position with a new employer. You can still retain your accumulated pension benefits with your former employer (also referred to as being "vested") but you must now decide whether to leave the money with your former employer’s pension fund or remove it. Since both the federal and provincial governments do not permit you to convert your pension into cash, one of your alternatives is to convert it into a locked-in RSP (LIRA), until you are ready to retire. Note: The name, locked-in RSP (LIRA) depends on the province where you live; but the provisions of the plans differ only in details from province to province. You have virtually the same flexibility of investment vehicles for your savings in a locked-in RSP (LIRA) as you have with an RSP.

There are two key differences between a locked-in plan (LIRA) and a regular RRSP:

1. You cannot access your funds in a locked-in RSP (LIRA) until you reach a certain age. This age depends on the province you live in and the retirement age specified for your pension plan.
2. There is less flexibility in how you use your locked-in funds once you reach this age; you can purchase a life annuity or transfer to a LIF or LRIF.

RLSPs
Restricted Locked-in Savings Plans are able to accept transfers from RLIF (Restricted Life Income Fund) plans for individuals who wish to return RLIF assets into a locked-in plan. Someone may want to make such a transfer because they do not want a steady stream of retirement income at the time.

Transfers from an RLSP by the holder will only be permitted if they are into another RLSP, into an RLIF, into a life annuity, or under certain circumstances, to a pension plan if the pension plan permits such a transfer.

LRIF - Locked-in Retirement Income Fund
Proceeds of a Locked-in Retirement Account (LIRA) may be transferred to a LRIF if permitted by the pension legislation governing the locked-in funds (currently, Alberta, Ontario, Manitoba and Saskatchewan). This type of plan cannot be opened prior to the age that the client could receive normal pension benefits - usually 55. Clients may choose between a minimum and maximum withdrawal each year.

LIF - Life Income Fund
A Life Income Fund (LIF) is a form of a Retirement Income Fund (RIF) to which you may transfer your locked-in retirement funds (from a registered pension plan, or a locked-in RSP, or “LIRA”) if permitted by the pension legislation governing the locked-in funds. A LIF provides the pension plan member with the flexibility to defer the purchase of a life annuity until the end of the year in which he or she turns 80 (rather than 69 as is the case for holders of ordinary RSPs.)

A Life Income Fund (LIF) cannot be opened prior to the age that the planholder could receive normal pension benefits (usually 55). Funds in a LIF account must be converted to an immediate life annuity by the end of the year in which the planholder turns 80 (the annuity must include a 60% spousal survivor benefit unless the spouse has signed a spousal waiver form). Clients may choose between a minimum and maximum withdrawal each year.

RLIFs
Restricted Life Income Funds were created to accept the transfer of locked in assets from a Life Income Fund (LIF), locked-in RSP contract entered into after May 8, 2008, or, under some circumstances, pension benefit credits. In the year that they turn 55, or in any subsequent year, individuals will be allowed to “unlock” up to 50% of the value of the RLIF by transferring it into a non-locked-in RSP or RRIF, as long as this transfer happens within 60 days of the creation of the RLIF.

The 50% remaining in the RLIF will be subject to the same limits upon maximum and minimum annual withdrawals, and to the same limits on extraordinary withdrawals, as a LIF. This remaining 50% can only be transferred to another RLIF, to a life annuity, or for individuals wishing to return remaining funds back to a locked-in savings vehicle, to a Restricted Locked-in Savings Plan (RLSP).

ESP - Education Savings Plan
A Registered Education Savings Plan is a tax deferred savings plan that you open on behalf of a future post-secondary student. RESP contributions are not tax deductible and the income earned on contributions compounds on a tax-deferred basis. Plus, the federal government will pay you an incentive on a portion of your RESP contributions called the basic Canada Education Savings Grant. There is no minimum amount required for these accounts.

TFSA - Tax-Free Savings Account
A Tax-Free Savings Account (TFSA) is a flexible savings vehicle that allows you to contribute $5,000 per year without paying tax on the capital gains or interest earned in the account. What’s more, you can withdraw from a TFSA at any time and withdrawals are not taken into account when determining eligibility for federal income tested benefits or credits. Unlike registered plans, amounts withdrawn in a given year are added back to the TFSA holder’s accumulated contribution room for subsequent years, helping you grow your account in a tax-efficient way. You can contribute in cash or in kind. TFSA eligible securities include a broad selection of investments: stocks, fixed-income securities, mutual funds and GICs. There is no minimum amount required for these accounts.

Non-Personal Account
Non-Personal accounts apply to Corporations, Sole Proprietorships, Partnerships, Investment Clubs, Societies or Churches, Trusts and Estates. These accounts are required to deposit a minimum of $5,000.

Identification Verification
In order to open your account, we are required to verify two pieces of identification and the signature of every applicant listed on your application. This includes all parties who have trading authority (meaning anyone who is assigned as a Trading Agent or who has a Power of Attorney on the account). For non-personal account types this includes all parties who are Authorized Trading Officers and all Beneficial Owners on the account.

ID - Each applicant needs to provide a photocopy of 2 pieces of ID, one of which must be a photo ID. Select and photocopy the ID you wish to submit from the list of Acceptable Forms of ID.

• Acceptable forms of photo ID - Any Federal or Provincial government issued photo ID (Valid Passport, Valid Driver's License, Canadian Citizenship Card, Government-issued Age of Majority Card, Permanent Resident Card, Provincial Health Card*)
  
  Note *Provincial Health Cards are not accepted for the provinces of Manitoba, Ontario or Prince Edward Island due to provincial privacy legislations.
• Acceptable forms of ID - Valid Credit Card, Social Insurance Card, Birth Certificate if the applicant or any of the parties to the application are under the age of 21.

Signature - to verify your signature, please choose one of the following options:

1. I already have a BMO Bank of Montreal account and/or a BMO InvestorLine account
   Write your SIN and your BMO Bank of Montreal bank account number and/or your BMO InvestorLine account number on the photocopy of your ID.
2. I do not have a BMO Bank of Montreal bank account or a BMO InvestorLine account and

   (a) I am including a cheque for all or part of my account-opening minimum balance
   Write your SIN on the photocopy of your ID and enclose a cheque drawn on a Canadian bank made payable to: BMO InvestorLine. Please ensure the bank accountholder name(s) on which the cheque is drawn match the name(s) on your BMO InvestorLine account application. Or

   (b) I am including a transfer for all of my account-opening minimum balance
   Write your SIN on the photocopy of your ID and enclose a cheque drawn on a Canadian bank in the amount of $10 or more made payable to: BMO InvestorLine. The cheque will be deposited into your new BMO InvestorLine account and is not a fee of any kind. It will be deposited as an RSP contribution if you're only opening an RSP account. Please ensure the bank accountholder name(s) on which the cheque is drawn match the name(s) on your BMO InvestorLine account application.

3. I wish to present my identification in person
   You may also present your identification and have your signature validated in person at any BMO Bank of Montreal branch or BMO InvestorLine office.

Special note for signature verification: If you cannot use option 1. and you are applying for a LIRA, RRIF, LRIF or LIF account, or for Trading Agent or Power of Attorney, Authorized Trading Officer or Beneficial Owner, please visit any BMO Bank of Montreal branch. Our staff will be pleased to assist in verifying your identification.

Trading Agent - A trading agent is a person whom the accountholder has granted authority to buy, sell or trade in securities including margin purchases, short sales, options, acceptance of re-organizations, and access account information on behalf of the accountholder.

Power of Attorney - A Power of Attorney has all the rights granted to a Trading Agent. In addition, a Power of Attorney can receive and deliver cash or securities from the accountholder's BMO InvestorLine account to another account, as long as the account to be credited is under the accountholder's name.

Why we are asking - Primary Occupation, Job Functions, Industry, Funding Your Account
It’s our obligation to safeguard your interests as well as maintain the security of Canada’s financial system. In addition, the questions we ask you in our day-to-day conversations help us to:

• verify your identity and protect you against fraud or identity theft
• understand your financial service requirements
• determine which products and services best suit your needs
• set up and manage products and services you have requested
• comply with federal and provincial legal and regulatory requirements