Post effective date, residuals and transfers
After June 1, 2022, there may be residual ineligible trailer paying funds in your account, or if you have chosen to transfer-in ineligible trailer paying funds, CC&L Private Capital will complete the following actions:
Within the prescribed grace period (up to 45 days), for DSC funds, where the manufacturer has not applied an manufacturer rebate, we will process a dealer rebate. For other trailer-paying funds, where the manufacturer has indicated there is a ‘like’ or ‘similar’ non-trailer-paying Destination Fund, we will process a dealer switch and a dealer rebate for any trailers paid during the grace period. Where a trailer-paying fund does not have a Destination Fund, we will process a dealer rebate.
In rare circumstances, CC&L Private Capital may need to request that you sell a fund or transfer out.
As a result, you may see changes and/or activity in your account where an equivalent non-trailer paying fund series is available, where an manufacturer rebate or a dealer rebate is applied. You will receive two confirmations from CC&L Private Capital for each dealer switch, the switch and rebate transactions will show in your history and on your accounts statements and will cause no tax implications. No action is required on you part.