Your Social Insurance Number (SIN) is required to open and maintain an investment account in Canada.
Identity Verification and Regulatory Requirements
Your SIN is used to:
Verify your identity
Confirm eligibility to open a Canadian investment account
Comply with Canada Revenue Agency (CRA) tax reporting obligations
Financial institutions are required to report applicable investment income and registered account activity to the CRA.
Compliance Obligations
Investment accounts are subject to anti-money laundering (AML) and know your customer (KYC) regulations. Collecting and verifying your SIN is part of these legal and regulatory requirements.
A valid SIN is required to maintain an active account.
Protection of Personal Information
Personal information is handled in accordance with applicable privacy and security standards.
Information is not sold to third parties
Information may be shared with authorized service providers when required to support account operations, identity verification, or fund transfers
Third-party providers are required to follow applicable privacy and data protection requirements
Updating Your SIN
To update your SIN, contact support through the Support section in the app. A support specialist will assist you with the update process.