Source: https://www.fsco.gov.on.ca/en/pensions/Forms/Documents/1167E-I.html
Timestamp: 2020-01-23 16:24:47
Document Index: 604163652

Matched Legal Cases: ['art 2', 'art 5', 'art 5', 'art 2', 'art 2', 'art 2', 'art 2', 'art 2', 'art 2', 'art 5', 'art 2', 'art 5']

You are at least 55 years old and the total value of all assets held in every Ontario locked-in account you own is less than $22,960 (for applications signed in 2019).
The amount of money that was transferred from your former pension plan into your Ontario locked-in account exceeded the Income Tax Act (Canada) limit. (For more details about this type of withdrawal, please see the Part 2C section of these instructions.)
You want to apply to withdraw money from your Ontario locked-in account because you are experiencing financial hardship. You must contact the financial institution that holds and administers your locked-in account(s).
Part 5	(If Part 5 is not completed, you must provide a separate written statement from a physician. Please see Part 2A section of these instructions for more details.)
If you are at least 55 years old and the total value of all money held in every Ontario locked-in account you own is less than $22,960 (for applications signed in 2019)2, you can apply to withdraw or transfer all the money in your Ontario locked-in account. If you want to apply for this type of withdrawal or transfer, complete the following Parts of the application:
If the amount of money that was transferred from your former pension plan into your Ontario locked-in account exceeded the Income Tax Act (Canada) limit, you can apply to withdraw the excess amount from your Ontario locked-in account. (For more details about this type of withdrawal, please see the Part 2C section of these instructions.) If you want to apply for this type of withdrawal, complete the following Parts of the application:
Part 2C	(You must also provide a separate written statement from the administrator of your former pension plan or the Canada Revenue Agency. The statement must set out the excess amount that was transferred into your Ontario locked-in account. Please see the Part 2C section of these instructions for more details.)
The following sections contain more detailed instructions on how to complete each specific Part of the application.
2This amount is equal to 40% of the Year’s Maximum Pensionable Earnings (YMPE) for 2019 The YMPE is a dollar amount set each year in relation to the Canada Pension Plan. A new YMPE is set every year, which means that the amount used to determine if a person is eligible for this type of withdrawal or transfer will change each year.
Complete Part 2B of the application only if you are applying to withdraw or transfer all the money from your Ontario locked-in account because you are at least 55 years old and the total value of all money held in every Ontario locked-in account you own is less than $22,960 (for applications signed in 2019).3 You must withdraw or transfer all of the money in your Ontario locked-in account if you apply and qualify under this Part of the application.
3 This amount is equal to 40% of the Year’s Maximum Pensionable Earnings (YMPE) for 2019. The YMPE is a dollar amount set each year in relation to the Canada Pension Plan. A new YMPE is set every year, which means that the amount used to determine if a person is eligible for this type of withdrawal or transfer will change each year.
Complete Part 2C of the application only if you are applying to withdraw money from your Ontario locked-in account because the amount of money that was transferred from your former pension plan into your Ontario locked-in account exceeded the Income Tax Act (Canada) limit. (For more details about this type of withdrawal, please see the explanation in Note 4 of this section.)4
Part 5 of the application is optional and can be completed by a physician licensed to practice medicine in a jurisdiction in Canada if you are applying to withdraw money from your Ontario locked-in account because you have an illness or physical disability that is likely to shorten your life expectancy to less than two years. (For more details, please see the section of these instructions regarding “How to Complete Part 2A of the Application”.) You, the owner, cannot complete Part 5 of the application.
Effective (2019-01-01)
FSCO 1167E.8-I