Opening Form Fondaction Group

Opening Form Fondaction Group-Free PDF

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2047 Formulaire ouverture Groupe Fondaction ang new qxp Version 2 2016 04 26 2 35 PM Page 2. Steps to open a Fondaction Group,Employer Fondaction Employees. The Group Representative,completes the Fondaction,Group opening form and sends. it to Fondaction 1 The opening of the Group is,confirmed and a Group number. is issued This number must be,indicated on all forms and. documents sent to Fondaction,Employees make their request.
either by contacting Fondaction,or by completing an application. and subscription form and,submitting it to Fondaction 2. Applications are processed,and the employees account. information is forwarded to the,Remittance Officer. The employer takes the deductions,from the employees pay in.
accordance with the information 1 Send to Fondaction by mail. provided by Fondaction Suite 103,2175 De Maisonneuve Blvd East. Montr al Qu bec H2K 4S3,by fax 514 525 5218 or toll free. 1 866 525 5218 or,by email info gf fondaction com, The Remittance Officer transmits 2 Applies to employees who want to subscribe. the data and forwards the to Fondaction by payroll deduction PD or. contribution to Fondaction who receive employer contributions. on or before the 15th day of the 3 Numerous transmission and payment methods. month following the payroll are available See details in section 7. deduction 3 Fondaction receives Contribution Processing. the contributions and deposits,them in the employees accounts. Role of Group Representative, The Group Representative acts as a resource person while the Fondaction Group is being set up This person is authorized to make.
decisions regarding the opening of the group and to act on the Company s behalf in all related matters. Role of Remittance Officer, The Remittance Officer is the main contact for Fondaction This person is the point of reference for any questions related to the. processing of application and subscription forms payroll deduction and remittances as well as the managing of requests for change. It is possible for one person to be both the Group Representative and the Remittance Officer. 2047 Formulaire ouverture Groupe Fondaction ang new qxp Version 2 2016 04 26 2 35 PM Page 3. Fondaction is bound by the Act respecting the protection of personal information in the private sector Qu bec and respects the rules of confidentiality contained therein. 1 Identification of Fondaction Group,Group No Remittance officer Name of Employer. 2 Identification of Company, Name of Company Number of unionized employees Total number of employees. if applicable,Website Pension plan in place Yes No. Administrative region Industry sector,Address Suite Plan type.
City Employer contributions Employee contributions. Province Postal code Name of financial institution holding pension funds. Other information,Group Representative Remittance Officer. Same as Group Representative, Ms Mr Language of correspondence French English Ms Mr Language of correspondence French English. Fonction Fonction,Email address Email address,Telephone Fax Telephone Fax. Same address as Company Same address as Company,Address Suite Address Suite. Province Postal code Province Postal code,3 Union Information if applicable.
Unionized Yes No Name of union,Boxes reserved for use by Fondaction. 2047 Formulaire ouverture Groupe Fondaction ang new qxp Version 2 2016 04 26 2 35 PM Page 4. Group Details see section 5,Plan type RRSP or non registered. Employees may choose to purchase shares in an RRSP or non registered account. The purchase of shares entitles subscribers to tax credits. Purchasing and registering shares in an RRSP allows subscribers to claim RRSP deductions corresponding to their. marginal tax rate in addition to tax credits, From January 1 2016 until May 31 2018 the purchase of Fondaction shares carries entitlement to two tax credits totalling. 35 of the amount paid for such shares This includes a 20 credit applicable against the Qu bec income tax payable. and a 15 credit applicable against the federal income tax payable. Tax deduction options, Tax deduction options may be offered to employees only if such options are integrated in the Company s payroll system. Options Impacts for Employee, Federal and provincial taxes payable are considerably reduced at each pay period.
RRSP deductions and tax credits, This option makes it easier to accumulate savings by reducing the net disbursement. Federal and provincial tax deductions in the form of tax credits are applied immediately. Tax credits only This option is useful for repaying an HBP loan from another financial institution. This option makes it easier to accumulate savings by reducing the net disbursement. Federal and provincial taxes are not immediately reduced at each pay period. No RRSP deductions or tax credits RRSP deductions and tax credits are claimed on the employee s annual tax returns. With this option the employees obtains a lump sum tax refund. Contribution methods, As many as three contribution methods may be offered within a Fondaction Group a fixed amount per pay period a percentage of wages. or a fixed amount per hour For employees who work variable hours the preferred options are either a percentage of wages or a fixed. amount per hour,Employer contribution, With an employer contribution of 1 the employee obtains the tax credits on the employer s portion. Contributions are exempt from the payroll expense tax. The employer contributes to the accumulation of retirement savings for staff. 2047 Formulaire ouverture Groupe Fondaction ang new qxp Version 2 2016 04 26 2 35 PM Page 5. 4 Payroll System,Payroll processed Internally,Software used. Externally,Name of supplier,Method of communication Web PC Telephone.
5 Group Details, Provide details on group and select desired options. Plan type RRSP Non RRSP, Tax deductions RRSP deductions and tax credits Tax credits only No RRSP deductions or tax credits. Contribution methods per pay period of wages per hour. Payroll deduction PD Offered to all Company employees. Offered to a limited group,Pursuant to an employment contract. Employer contribution Yes,Specify conditions or attach a copy of the clause. Pursuant to an employment contract, Lump sum contribution Yes Lump sum payroll deduction bonus retroactivity paid sick or vacation days.
Effective date of payroll,deduction PD Y Y Y Y MM D D. Must correspond to a payroll period, Pay period 7 days 14 days Monthly calendar month Other. Number of pay periods per year 26 52 Other,Projected pay periods. without payroll deduction,PD E g seasonal closing Xmas break etc. Staff participation Application and subscription form signed. requirements, Secure website Do employees have access to a secure Intranet site Yes No.
6 Authorized Fondaction Representative, Name of authorized Fondaction Representative FR number. 2047 Formulaire ouverture Groupe Fondaction ang new qxp Version 2 2016 04 26 2 35 PM Page 6. Contribution Processing see section 7, Once a month the Remittance Officer transmits the data file and the payment to Fondaction Both must be submitted on or before the 15th day. of the month following the date of the payroll deduction Should the employer fail to remit to Fondaction the amounts deducted from the. employees salaries said employees shall have a legal recourse against the employer for any amount not paid by the employer. Transmission,Transmission of Data of payment Description. Payroll service The service provider transmits the data file and forwards the remittances. provider to Fondaction, The service provider transmits the data file to Fondaction. Preauthorized debit Using a specimen cheque provided by the Remittance Officer Fondaction debits the. total amount of the contributions from the Company s account. Payroll service, provider The service provider transmits the data file to Fondaction.
Every provider has its own Online payment The Remittance Officer deposits the contributions via the website of. transmission methods and Financial institution, the Company s financial institution using the bill payment function at Caisses Desjardins. documents to complete Online payment or or most other financial institutions. bank transfer, Bank transfer The Remittance Officer asks his financial institution to forward. the contributions directly to Fondaction, Cheque The Remittance Officer mails a cheque for the contributions to Fondaction. The Remittance Officer submits the data file via Fondaction s website by clicking on the. Acc der votre compte section Two options are available electronic file transfer or. Preauthorized debit online data entry by the Remittance Officer. Using a specimen cheque provided by the Remittance Officer SSQ debits the total. amount of the contributions from the Company s account. The Remittance Officer submits the data filet via Fondaction s website by clicking on the. Acc der votre compte section Two options are available electronic file transfer or. Fondaction website online data entry by the Remittance Officer. fondaction com Financial institution, Online payment The Remittance Officer deposits the contributions via the website of. Online payment or the Company s financial institution using the bill payment function at Caisses Desjardins. bank transfer,or most other financial institutions.
Bank transfer The Remittance Officer asks his financial institution to forward. the contributions directly to Fondaction, 1 En raison du respect de l environnement et de leur efficacit ces options de transmission sont fortement recommand es car elles facilitent. le respect de la contrainte concernant les remises effectu es au cours des 60 premiers jours de l ann e expliqu e ci dessous. Cheque The Remittance Officer mails a cheque for the contributions to Fondaction. Be careful with remittances made in the first 60 days of the year. In order for contributions made in the first 60 days of the year to be claimed on tax returns for the previous year the remittances. must be received by the registrar within the first 60 days of the current year. A source deduction from the pay of February 4th must be received by Fondaction at most by the 60th day of the year in. order to be included on the relev 10 issued for contributions in the first 60 days of the current year. Otherwise the employee could not claim the contribution on the tax returns for the previous year. 2047 Formulaire ouverture Groupe Fondaction ang new qxp Version 2 2016 04 26 2 35 PM Page 7. 7 Contribution Processing, Data transmission method Contribution payment method. Payroll service provider when available Payment through financial institution online payment. Payroll service provider, Preauthorized debit complete section 8 Payment through financial institution bank transfer Cheque. Fondaction website Acc der votre compte Preauthorized debit complete section 8 Payment through financial institution bank transfer. Electronic file transfer or online data entry by, Remittance Officer Cheque Payment through financial institution online payment. Frequency of transmission Monthly 28 days 14 days, 8 Authorization for Payment by Preauthorized Debit Banking Information.
Name of financial institution Transit Institution Account. Authorisation,The Company hereafter the Company, herein represented by the Group Representative duly authorized to act for the purpose of these presents. Attach a cheque specimen here, authorizes Fondaction to debit from the Company s account each remittance payment the amount of which may vary and be debited at variable frequencies. The amount of the contribution remittance is the amount specified in the remittance report submitted to the Fondaction Adjustments may be made to any. remittance but such adjustments also require an electronic authorization which must be transmitted with the remittance Debit authorizations are revocable and. must be submitted with each remittance due to the variable frequencies. authorizes Fondaction to bill and debit any charges if the preauthorized debit payment cannot be processed as stipulated herein. authorizes the above mentioned financial institution to withdraw from the Company s account the amount representing the contribution remittance payment. This authorization may be revoked at any time upon written notice from the Company. Rights of recourse of the Company, The Company has certain rights of recourse if a debit is not made in accordance with this agreement For example the Company is entitled to reimbursement of any and all. debit payments that are unauthorized or incompatible with this authorization For more information on the Company s rights of recourse on obtaining a sample cancellation. form or for any other information on cancelation rights the Company may contact its financial institution or visit the CPA website at www cdnpay ca. X A A A A MM D D, Company Name By Signature of Group Representative Date. 9 Fondaction Website Usage Agreement, For the purpose of transmitting contributions Fondaction makes its transactional website available exclusively to the Remittance Officer The Remittance Officer is responsible for.
taking adequate security measures to safeguard access to the website particularly by not disclosing the identification number or password issued by the Fondaction and by keeping. these in a safe place, This agreement is designed to ensure the protection of personal in. 2016 04 Opening Form Fondaction Group 2047 Formulaire ouverture Groupe Fondaction ang new qxp Version 2 2016 04 26 2 35 PM Page 1

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