Ontario KYC & financial planning intake checklist

What documents do Ontario financial advisors need for KYC?

A typical Ontario household intake file spans identity verification, KYC personal circumstances, financial planning documents, pre-custodian AML items, and planning-specific records like RESP beneficiary proof. Here is the full operational checklist:

We'll email you the checklist PDF you can share with clients.

A. Identity & contact

1. Government-issued photo ID (valid, non-expired)
2. Secondary ID or address verification (utility bill, property tax bill)
3. Trusted Contact Person form (where applicable)

B. KYC — personal circumstances

1. Employment / income verification (pay stub, T4, business financials)
2. Net-worth summary (assets, liabilities, real estate, business interests)
3. Investment knowledge questionnaire (documented responses)
4. Investment objectives and time horizon (documented)
5. Risk tolerance assessment (documented)
6. Risk capacity assessment (documented separately from tolerance)

C. Financial planning file

1. T1 General (2–3 years) and Notices of Assessment
2. Investment account statements (non-custodied or held-away assets)
3. Pension / LIRA / RRIF statements
4. Group benefits summary
5. Life, disability, critical illness policies
6. Will, POA, and beneficiary designations (as disclosed)
7. Corporate financial statements (business-owner clients)

D. Account opening & AML (pre-custodian)

1. Void cheque or bank verification for EFT
2. Entity/trust formation documents + beneficial ownership register (entity clients)
3. Source-of-funds / source-of-wealth documentation (non-standard deposits, gifts, business sales)
4. Authorized individual resolutions (corporate/trust accounts)

E. Planning-specific

1. RESP beneficiary ID / SIN documentation
2. RRSP/TFSA contribution room notes and prior plan statements
3. Insurance carrier questionnaires (as applicable)
4. Referral arrangement disclosure (if referred client)

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