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Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.

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TD: losing retirement accounts????? Yup.


  • How can this be? Surely you jest. See, e.g.
    Flawed Paperwork Aggravates a Foreclosure Crisis, NYTimes, 2010

    (Just the first random article I happened to hit.)

    IMHO there are at least two important takeaways:

    1. Always check your statements. The boilerplate verbiage from financial institutions to do this is there for a couple of reasons:
    - Actually checking helps find problems like the ones written about when they first occur.
    - The verbiage protects the institutions in case there is a problem and you failed to check. This is a defense mentioned in the article.

    2. Hold onto your statements "forever", or at least until there's no more money left to trace. Financial institutions may destroy records after a finite period of time, as allowed by law, e.g. "TD does retain records for RSP accounts for seven years, in accordance with applicable provincial laws."

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