Tax slips for the 2020 tax year

March 10, 2021

Tax slips and other documents for the 2020 tax year have been mailed as of the dates noted below. Unfortunately, Canada Post is currently experiencing delays but we’ve been told that the backlog will soon be addressed and all mail will be delivered shortly. If you are still waiting for your 2020 T5 tax slip, you can download a copy by logging in to your Online Banking account.


February 12, 2021

Account statements and tax slips for the 2020 tax year will be mailed out on the dates listed below. You can also view these documents online as of the date indicated in the table:

Statement / Tax SlipEstimated Mailing Date (mm/dd/yyyy)Available in Online Banking (mm/dd/yyyy)
Portfolio Statements2/25/20212/12/2021
T52/26/20212/12/2021
RL32/19/20212/12/2021
RL22/22/20212/19/2021
T4RIF2/22/20212/19/2021
T4RSP2/22/20212/19/2021
T4A2/22/20212/19/2021
NR4 – Interest, RSP and RIF3/10/20213/8/2021
RSP Contribution Receipts: Remainder of the year 2020 contributions2/17/20212/12/2021
RSP Contribution Receipts: 1st 60 days of the year 2021 contributions3/25/20213/25/2021


Temporary closure

March 16, 2020

At Oaken, we’re committed to ensuring the health and safety of our customers and employees. We also understand that as a community, we must work together during these challenging times and do everything possible to minimize the spread of the COVID-19 virus.

That’s why effective the close of business Monday, March 16, we will temporarily close our Oaken stores until further notice.

The Oaken team remains committed to delivering service and support to our customers. Our Contact Centre and mailroom are open and our Online Banking remains available so you can continue to manage your accounts online. If you need assistance, you can speak with an Oaken service representative by calling 1-855-OAKEN-22 (1-855-625-3622) Monday to Friday from 8:00AM to 8:00PM.

We sincerely value your business and look forward to serving you in person again when the Oaken stores re-open.


Oaken Financial’s response to COVID-19

March 13, 2020

Oaken continues to operate on a “business as usual” basis and we’ve implemented several new actions to safeguard our customers and employees. We understand that these specific steps must be taken to reduce the spread of the COVID-19 virus while ensuring that we can continue to meet the needs of our customers.

 

Protecting our people and our customers

The health and safety of our customers and employees is a top priority. Based on the latest information from the Government of Canada, the risk for the general population remains low, but the possibility remains that the situation could change rapidly.

Reducing public exposure is one of the Government’s prime recommendations to help minimize the potential for spreading the COVID-19 virus. In keeping with this guideline, we encourage you to use Oaken’s Online Banking to manage your Oaken account. As well, Oaken representatives are available Monday to Friday, from 8:00AM to 8:00PM ET by calling 1-855-OAKEN-22 (625-3622) to assist you.

 

Ensuring Oaken’s business continuity

We’re confident that the infrastructure we have in place and the steps we’ve taken are appropriate and will help protect the health of our customers and employees. We thank you for your understanding and as we continue to monitor the situation, we’ll provide further updates as required.

Thank you for your continued business.


COVID-19 Update: Contacting us.

We are currently experiencing longer than normal wait times on our phone lines. In order to serve you better, we recommend that you send your questions or comments to our message centre through Oaken Online Banking.

Simply sign into Online Banking and use the secure Message Management Centre to forward your message. We will respond to all messages as soon as we can and you will receive an email notification once we have replied to your request. Once you receive this alert, log into Online Banking to read the full message.

If you are not enrolled for Online Banking, please click here to get started.

Thank you for your patience.


RIF withdrawal update

Reduce RIF minimum withdrawals by up to 25%

On March 25, 2020, the federal government introduced a change to the Registered Income Fund (RIF) withdrawal rules to ease the impact of the COVID-19 pandemic. With this change, you now have the option to reduce the minimum annual amount you are required to withdraw from your RIF by up to 25%.

This reduction is intended to help those who have seen their RIF balances impacted by the ongoing crisis. Because this is a temporary measure, it is only available for the 2020 tax year.

To take advantage of this legislated change for your Oaken RIF, you must provide Oaken with a signed letter of direction. This letter must include clear instructions for Oaken to proceed with the change and you must also specify the percentage by which you wish the minimum annual withdrawal to be reduced, to a maximum reduction of 25%.

Note that in order to qualify, you must meet the following conditions:

• You must not have already withdrawn the full 2020 minimum amount at the time you request the reduced withdrawal amount.
• If you have selected an Annual withdrawal frequency you must not have received payment at the time of your request.
• If your RIF withdrawal is set up as Monthly, Quarterly, or Semi-Annual, you must still have remaining payments at the time of your request


Oaken Stores are now open!

August 12, 2020

We’re pleased to announce that our Oaken stores are now open to serve our customers in person. Please note that for now, we are operating under reduced hours and our Vancouver and Calgary stores are open for appointments only, while our Toronto office is open for both walk-ins and appointments.

Here’s what you can expect when you visit an Oaken Store:

– An enhanced cleaning protocol has been implemented to sanitize hard surfaces after each client visit
– Plexi-glass dividers have been installed at all reception desks
– All Oaken team members will be wearing masks
– Oaken customers are required to wear masks while in the store
– If you feel unwell or have symptoms including a fever, cough, or shortness of breath, we respectfully ask that you do not visit an Oaken store until you’re feeling better

Please note that when you arrive, an Oaken team member will ask you a few questions before escorting you into the store. These questions will include:

• Have you had close contact with someone who has been diagnosed with COVID-19?
• Have you recently experienced any of the following symptoms?
      • fever, cough, or shortness of breath
      • sore throat, nasal congestion, or difficulty swallowing
      • loss of sense of smell, chills, headaches, or unexplained fatigue
      • diarrhea, abdominal pain, or nausea
• Have you or anyone in your household had close contact with anyone exhibiting these symptoms?
• Are you taking any medication that might suppress any of these symptoms?
• Have you or anyone in your household travelled outside Canada in the last 14 days?
• Have you or anyone in your household attended a large gathering of 50 or more people indoors, or 100 or more people outdoors, in the last 14 days where physical distancing was not observed?

Thank you for your patience and your continued business during these exceptional times.


Toronto Oaken Financial Store temporarily closed effective November 23rd, 2020.

November 20, 2020

In light of the recent changes to the provincial government guidelines and to help ensure the safety of our customers and staff, the Toronto Oaken store will be closed until further notice. The Oaken team remains committed to delivering service and support to our customers. Our Contact Centre is open and our Online Banking remains available so you can continue to manage your accounts online. If you need assistance, you can speak with an Oaken service representative by calling 1-855-OAKEN-22 (1-855-625-3622) Monday to Friday from 8:00AM to 8:00PM.

We sincerely value your business and look forward to serving you in person again when the Oaken stores re-open.