Account Closing. Worldsource may at its sole discretion terminate this Agreement and require that you close or transfer your Account(s) to another dealer within a reasonable time limit, as determined by Worldsource. If you fail to do so, Worldsource may, without notice to you, deliver your account assets to you or liquidate your account(s), pay all outstanding payments owed to Worldsource and forward any balance to you. You acknowledge that the liquidation of your account(s) may result in significant tax and other consequences to you. You accept full responsibility for such consequences and hereby waive any claim or right you have or may have against Worldsource with respect to the termination of this Agreement and the closure, transfer or liquidation of your account(s). For Self-Directed Registered Income Funds (RIF) annuitants are required to withdrawal a minimum amount every year as instructed by Canada Revenue Agency (CRA). If no instructions are provided, to facilitate the payment of this minimum on an annual basis, Worldsource will set up a recurring annual payment to be made to the annuitant every December 15th. The payment will be issued to the annuitant and the subsequent tax receipt mailed within the first 60 days of the following year. It is the client’s responsibility to ensure enough cash is available in their accounts to facilitate the RIF payment.
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