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Purchases


Q. Who can purchase Ontario Savings Bonds?
A.

Only Ontario residents are eligible to purchase Ontario Savings Bonds. This means:

  1. An individual normally residing in Ontario and having an Ontario home address;
  2. A corporation, society, non-profit association or other organization having a permanent establishment in Ontario, or
  3. A beneficiary of a RRSP, RRIF, DPSP, EBP, RESP, RPP or an estate or other trust where that beneficiary meets the requirements of (a) or (b) above.
 
Q. Can Ontario Savings Bonds be purchased as a gift for someone else?
A.

Yes, OSBs can be purchased as a gift for someone else, as long as the bondholder meets the eligibility and maximum purchase amount requirements.

 
Q. What are the minimum/maximum purchase amounts?
A.

The minimum purchase amount is $100 and the maximum purchase amount is $1,000,000 of Variable-Rate, Step-Up Rate, or Fixed-Rate Bonds or of any combination. All purchases must be in multiples of $100.

When bonds are owned jointly, the maximum amount permitted is $1,000,000 multiplied by the number of joint bondholders. If Bonds in excess of the maximum purchase amount are purchased, the transaction is not processed. There is no limit on OSB purchases made in the secondary market through an investment dealer.

 
Q. Does the maximum purchase amount apply to bondholders who purchase Ontario Savings Bonds and then inherit more, taking them over the $1,000,000 limit?
A.

No. The maximum purchase amount does not apply to bondholders who purchase OSBs and then inherit more, taking them over the $1,000,000 limit.

 
Q. What is the method of payment for Ontario Savings Bonds?
A.

OSBs can be paid by cheque, bank draft, or money order, dated no later than June 21, 2016, and made payable to the financial institution in which the Bonds were purchased.

 
Q. When is payment due for Ontario Savings Bonds?
A.

Payment for Ontario Savings Bonds is due on June 21, 2016.

 
Q. Can Ontario Savings Bonds be purchased after the selling period?
A.

Yes. Ontario Savings Bonds may be purchased after the selling period through the secondary market by contacting an investment dealer directly.

 
Q. Can an Ontario Savings Bond purchase be cancelled?
A.

Yes. An OSB purchase can be cancelled, at any time, prior to the close of business on June 21, 2016. Written notification, along with a copy of the Purchase Application Form (ONT1), must be provided to the branch of the financial institution in which the Purchase Application Form was originally submitted.

 
Q. Can the information provided on the original Purchase Application Form (ONT1) be changed?
A.

Yes. During the selling period, from June 1st to June 21, 2016 any changes to the Purchase Application Form must be made at the financial institution where the original Purchase Application Form was submitted.


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