| Book Value |
What is Book Value?
Book Value is the amount you paid to purchase units or shares of a security currently held in your account and is calculated by multiplying the total quantity by the average unit cost. (details in PDF format) |
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I made a mistake on the Book Value form - can I correct it?
Yes, you can! Simply complete a new Book Value form, sign and mail or fax it to us with copies of documents supporting the correction. |
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Can I use this information for tax purposes?
The authorities do not accept information we provide you on book values as proof for tax purposes so we advise you to keep your confirmation notices and/or monthly account statements indicating the relevant amounts. However, if all your purchases were made after November 23, 2001, you can consider the data as correct although they are provided for information purposes only. If you wish to make any changes, please complete and sign the form and return it to us with copies of supporting documents. You should keep the originals for your files. |
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Should I provide you with the Book Value when depositing a certificate I've been keeping at home?
You can provide us with the Book Value of your securities at any time. When depositing a certificate at a National Bank branch or at our office, please complete and sign the Book Value form and attach it to your request. |
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Are the Book Values for my account and holdings available on your transactional site?
Yes, they are! You can check the Book Value and unrealized gains/losses for each of your accounts as well as their respective holdings. |
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What supporting documents are acceptable?
Only confirmation notices, monthly account statements and annual transaction statements are acceptable supporting documents when making Book Value changes. |
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To make changes, do I need to provide original supporting documents or copies?
Copies are acceptable. In fact, we advise you to keep the originals since they are required by the tax authorities. Please note that if you send us originals, they will not be returned. Instead, they will be included in your file with the Book Value change form. |
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Can I send you the required information via email or by providing a signed explanatory letter?
Sorry, no. To make any changes, we must receive a complete and signed acquisition form. You may however email or fax the form to us. If you don't have a form, we can send one to you by fax or mail. You can also obtain a copy from the Forms section of our website or from a National Bank branch. |
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Why has the Book Value of my bonds been reduced on my account statement?
Since you paid the accrued interest when you bought your bonds several months ago, this amount was included in your Book Value. Following the last interest payment, your Book Value was adjusted accordingly to reflect the fair value of your purchase. |
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Why was the interest included at purchase?
For example, if the bond issuer goes out of business or goes bankrupt between the purchase date and the first interest payment, the accrued interest already paid would be included when calculating the capital loss. |
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Why is my Book Value indicated as unavailable instead of zero?
For most clients, it would not be accurate to indicate zero as the Book Value of holdings if we don't know the actual value. It's therefore preferable to show your Book Value as unavailable rather than indicating an incorrect amount. Moreover, we need proof before we can charge any Book Value already calculated by the system and shown in your account. Please note that since the month-end market value appears on your investment statement, you can check your previous statement if necessary. |
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I recently transferred my shares from another institution and I noticed that the Book Value on my account statement does not match my calculations. Why is that?
For transfers, we use the Book Value provided by the transferring institution. In some cases, securities are transferred at their market value on the transfer date and we have no way of verifying whether the provided information is correct or not. To make changes, simply complete and sign the form and return it to us by mail or fax, together with a copy of the file of supporting document(s) (account statement, confirmation notice, annual transaction statement). |
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I recently transferred some National Bank shares held in my own account to a brokerage account held jointly with my spouse. Why was the Book Value changed?
From a tax perspective, this transaction results in a deemed change of ownership and disposition of assets. That's why the transfer was made at market value, which then became the Book Value for the shares in the joint account. Tax attribution rules apply to this transaction. For more information, please contact your tax advisor. |
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Why does my statement show a negative Book Value for my cash account?
Some securities transactions could result in a negative Book Value on your account statement. So please complete and sign the form and return it to us. We'll make any necessary adjustments. |
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Why is my mutual funds' Book Value incorrect?
Mutual fund data are provided to us by the respective companies. In the case of errors, you should complete, sign and send us the form and we'll make the necessary adjustments. |
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I had 100 National Bank shares in my account with an Book Value of $30. I deposited an additional certificate for 250 shares and sold 150 the next day. Will you be calculating my Book Value?
The Book Value will be the average price of your shares. Since shares are generally deposited at current market values, the average price will be calculated by the system using the price of $30 for the old shares and the current price for the additional 250 shares. The resulting calculation will probably not be representative of the shares' real value. In that case, you should send us a completed and signed form with documents supporting the required modification. |
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