Declarations for Unlocking Federally Regulated Locked-In Pension Funds: When You May Need a Notary Public/Commissioner or other person authorized to take affidavits
- Notary Public
- Aug 7
- 5 min read
If you have money held in a federally regulated locked-in retirement plan, you may be able to withdraw or transfer some of those funds in certain circumstances, including financial hardship, a small account balance, or certain 50% unlocking provisions.
However, these applications often require an attestation or declaration to be signed in front of a notary public, commissioner for taking affidavits, or another person authorized to administer oaths and affidavits.
At Affordable Markham Notary Public, we regularly assist clients who need these forms properly commissioned.
What Are Federally Regulated Locked-In Retirement Plans?
Federally regulated locked-in retirement funds can include:
Locked-In Registered Retirement Savings Plans (LRSPs)
Life Income Funds (LIFs)
Restricted Locked-In Savings Plans (RLSPs)
Restricted Life Income Funds (RLIFs)
These funds are generally subject to restrictions because they originated from federally regulated pension benefits. However, federal pension legislation provides limited circumstances where funds may be "unlocked."
The Office of the Superintendent of Financial Institutions (OSFI) identifies several unlocking options, including financial hardship, small account balance unlocking, and certain one-time 50% unlocking provisions.
Financial Hardship Unlocking
One situation where a person may be able to access federally locked-in funds is financial hardship.
Under the federal rules, financial hardship unlocking may be available where a person is experiencing financial difficulty because of:
Low income, or
High medical or disability-related costs in relation to their income.
For 2026, the maximum amount that may generally be unlocked under the financial hardship provisions is based on 50% of the Year's Maximum Pensionable Earnings (YMPE), which is $37,300 for 2026. The amount available for low-income situations is determined using a sliding scale based on expected income.
Financial hardship applications generally require Form 1 – Attestation Regarding Withdrawal Based on Financial Hardship.
Importantly, Form 1 must be signed as an attestation before a person authorized to take affidavits, such as a notary public or commissioner for taking affidavits.
What Is Form 2 – Attestation Regarding Spouse/Common-Law Partner?
If you have a spouse or common-law partner, additional requirements may apply.
For certain unlocking applications, including financial hardship, small account balance unlocking and certain one-time 50% unlocking provisions, the spouse or common-law partner must provide consent.
This is done through Form 2 – Attestation Regarding Spouse/Common-Law Partner.
The spouse or common-law partner's signature must also be properly witnessed before a notary public, commissioner, or another person authorized to take affidavits.
The form is important because the spouse or common-law partner is acknowledging the legal consequences of consenting to the withdrawal or transfer of the locked-in funds.
What if You Don't Have a Spouse or Common-Law Partner?
If the planholder does not have a spouse or common-law partner at the time of the application, Form 2 may still need to be completed to attest to that fact.
In other words, the form is not necessarily limited to situations where a spouse is giving consent.
OSFI explains that Form 2 is used to establish whether the planholder has a spouse or common-law partner and, where applicable, to document the spouse's or common-law partner's consent.
Small Account Balance Unlocking
Another potential unlocking option is available for individuals who meet the federal requirements for a small account balance.
Generally, the individual must be 55 years of age or older within the calendar year and the total value of their applicable federally regulated locked-in retirement accounts must be at or below the applicable threshold.
For 2026, the threshold is 50% of the YMPE, or $37,300.
A small account balance application generally requires:
Form 2 – Attestation Regarding Spouse/Common-Law Partner, and
Form 3 – Attestation of Total Amount Held in Federally Regulated Locked-in Plans.
These attestations must be properly completed and made before an authorized person, such as a notary public or commissioner.
One-Time 50% Unlocking
Federal pension rules also provide certain circumstances where an individual may transfer up to 50% of funds from an RLIF into an RRSP or RRIF.
The eligibility requirements can be specific, including age and timing requirements. For example, OSFI currently identifies a non-residency-related 50% unlocking option for individuals who will be 55 or older during the calendar year and who meet the applicable timing requirements following the initial transfer into an RLIF.
Because the rules can vary depending on the type of locked-in plan and the circumstances, it is important to confirm your eligibility and the appropriate form with the financial institution holding your account.
Why Does the Form Need to Be Commissioned?
These forms contain formal attestations. By signing, the person is declaring that the information provided is true and accurate.
OSFI specifically states that required attestations must be made before a notary public, commissioner, or another person authorized to take sworn affidavits.
This is different from simply signing a document.
When you come to a notary public or commissioner, you will generally:
Bring the completed form with you.
Provide valid government-issued photo identification.
Review the document before signing.
Sign the attestation in the presence of the notary or commissioner.
Have the notary or commissioner complete the applicable jurat or certification section.
Submit the completed form to the financial institution holding your locked-in account.
Do not sign the attestation in advance unless the form or notary specifically instructs you to do so. The purpose of commissioning is for the authorized person to witness the required oath, affirmation or attestation.
How Recent Does the Attestation Need to Be?
Timing is important.
For certain federal unlocking applications, the attestation must be sufficiently recent. For example, the Form 2 instructions indicate that an attestation will not be valid for the application if it is dated more than 60 days before the financial institution receives the application.
Because requirements can depend on the particular form and application, it is a good idea to check the instructions provided by your financial institution before arranging your appointment.
What Should You Bring to Your Notary Appointment?
If you are coming to Affordable Markham Notary Public to have a locked-in pension unlocking form commissioned, please bring:
The completed form;
Valid government-issued photo identification;
Your spouse or common-law partner, if their signature also needs to be commissioned; and
Any additional instructions provided by your financial institution.
Please do not sign the form before your appointment if your signature is required to be witnessed or commissioned.
Does the Notary Determine Whether I Qualify?
No.
A notary public or commissioner is generally responsible for properly administering the oath, affirmation or attestation and completing the applicable commissioning section.
The notary does not determine whether you qualify to unlock your pension funds.
Your financial institution or plan administrator should be your first point of contact regarding eligibility, required forms and where the completed documents must be submitted. OSFI also advises individuals with federally locked-in funds to contact the financial intermediary holding their account.
If you are unsure about the legal consequences of signing a spouse/common-law partner consent or another attestation, you should obtain independent legal advice before signing.
Need a Locked-In Pension Form Commissioned in Markham?
If your financial institution has provided you with a federally regulated locked-in pension unlocking form that needs to be signed before a Notary Public or Commissioner for Taking Affidavits, Affordable Markham Notary Public can assist with the commissioning of your document.
We provide in-person notary and commissioning services in Markham for documents including affidavits, statutory declarations and formal attestations.
Bring your completed form and valid government-issued photo ID, and we can help ensure the signing and commissioning portion is completed properly.
Important Disclaimer
This article is provided for general informational purposes only and is not legal, financial, pension or tax advice. Eligibility for unlocking federally regulated locked-in funds depends on the applicable legislation, the type of plan and the individual's circumstances. Requirements and forms may change. Please confirm the current requirements with your financial institution, plan administrator or OSFI, and seek professional advice where appropriate.
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