Fees and Commissions

U.S. Equities - Purchase and Sale

A minimum commission of $39 applies to Canadian and U.S. orders placed with your CIBC Advisor or by telephone with a Registered Representative. A flat commission of $39 applies if trading 1,000 shares or less. Full commissions and fees apply for each partial fill, except when transacted within the same business day. Commissions on transactions of principal value over $250,000 are negotiable for both Canadian and U.S. equities.

Over-the-Counter Equities - Purchase and Sale

Pink Sheets and U.S. Over-The-Counter Bulletin Board (OTCBB) trades must be placed by telephone with a Registered Representative and may be subject to additional transfer agent fees beyond the Standard Commissions described above.

Foreign Equities - Purchase and Sale

Trades made on exchanges outside North America are subject to different charges. While a charge will apply to such trades, the amount of the charge may vary depending on the market through which the trade is placed, and is subject to change by the broker used to place the trade.

For all other securities

Gold and Silver Certificates - Purchase and Sale

Mutual Funds

¹Switch orders are permitted only within the same family of funds and within the same load class. Please note: These fees are in addition to charges applied by the fund company, such as early redemption fees or deferred sales charges on back-end load funds. With the exception of CIBC funds, which have a minimum investment of $500,^* there is a $1,000 minimum investment for all mutual fund orders (unless a higher minimum is set by the mutual fund company).

^* Except the CIBC Premium T-Bill fund, CIBC Premium Money Market fund and CIBC Premium U.S. Money Market fund whose initial purchase minimum is $100,000. CIBC Premium Canadian Bond fund initial purchase minimum is $50,000 and the CIBC Money Market fund and Managed Portfolio Services funds, whose initial and subsequent minimum is $100.

Fixed Income & Money Market - Purchase and Sale

For purchases or sales of fixed-income securities, CIBC Imperial Investor Service and its affiliates will receive remuneration based on the Spread (i.e., the difference between the bid and offer prices on the security for the applicable marketplace). This Spread will differ based upon various factors such as the nature and liquidity of the security. A Spread is charged on various fixed-income securities, as well as on structured products, GICs, and money market investments. You may be required to purchase a minimum amount, which may vary by security.

Exchange-Traded Debentures

Fees Relating to the General Operation of Your Account

This section describes the fees that will be charged depending on the type of account you have with CIBC Imperial Investor Service.

Cash Transfers

Certificate Registration

Additional charges may apply if delivery of certificates is made by means other than registered mail.

Other Fees

Out-of-pocket expenses incurred may be charged in certain circumstances (e.g., loss resulting from closing out a transaction, administration time, cost of funds at the prevailing margin interest rate to carry the account in a positive position, courier charges, etc.). If charges apply for additional services you request, they will be disclosed prior to implementation.

Notice of Fee Change: If a fee applicable to your account is increased or a new fee is introduced, you will receive notification 60 days prior to the effective date of the change.

If the fee relates to an activity in the Canadian dollar portion of your account, the charge will be in Canadian dollars. If the fee relates to an activity in the U.S. dollar portion of your account, the charge will be in U.S. dollars unless otherwise noted.

Please note: GST/HST, QST, PST and sales taxes where applicable.

Fees for Registered Accounts

General Administration Fees

Fees charged are for the period of January 1 to December 31, or any part thereof, payable on September 1.

Regular RRSP, RRIF, or LIF

• The RRSP, RRIF/LIF annual administration fee is $100 CDN.
• There are no administration fees for any registered account with a balance greater than $25,000 CDN (or Canadian equivalent).

FundPlus^® RRSP, RRIF, or LIF

• The FundPlus RRSP, RRIF, or LIF annual administration fee is $12 CDN.
  In order to be eligible for this reduced fee, your registered account must contain only GICs, money market and fixed-income investments, mutual funds, and/or cash throughout the period

Registered Education Savings Plan (RESP)

There are no annual administration fees for RESPs

Tax-Free Savings Account (TFSA)

There is no annual administration fee for a TFSA account.

First Home Savings Account (FHSA)

There is no annual administration fee for a FHSA account.

Please note: GST/HST, QST, PST and sales taxes where applicable.

Mortgages

• The Mortgage Administration Fee is in addition to the annual RRSP/RRIF Administration Fee. The Mortgage Administration Fee is $225 CDN for each mortgage established for the period of January 1 to December 31, or part thereof, payable on September 1.
• The Mortgage Set-Up Fee is $200 CDN for each mortgage, payable at the time each mortgage is established in your Plan.
• The Renewal Fee is $85 CDN for each mortgage.
• The Early Renewal Fee is $100 CDN for each mortgage.
• The Discharge Fee is $100 CDN for each mortgage.
• The Transfer In/Out Fee is $100 CDN for each mortgage.

Additional fees (such as legal, appraisal, and CMHC/ Genworth Financial Mortgage Insurance Company application fees) are applicable for most mortgages.

Please note: GST/HST, QST, PST and sales taxes where applicable.

RRSP Deregistration

FHSA Deregistration

^* A Partial Plan Withdrawal that results in a balance of $100 CDN or less remaining in a registered account is treated as a Full Plan Withdrawal and will be charged a fee of $100 CDN.

RRIF/LIF Payments

Other Fees

Transfers: $150 CDN

Applies to both full and partial transfers. The Transfer Fee is waived if your plan/fund is transferred within the CIBC group of companies.

Substitutions (Swaps) (per security): $35

For exchanging securities held in your LIF/LIRA/RRSP/RRIF/RESP with cash or securities of equal value held within a similar plan.

Please note: GST/HST, QST, PST and sales taxes where applicable.

Interest Rates

Interest is calculated daily based on the closing debit or credit balance in the account and charged or paid monthly. Interest will begin to be calculated as soon as there is a debit or credit balance in the account.

The interest accrual period is from the 16th day of the previous month to and including the 15th day of the current month, and is posted to the account on the 16th day of the current month. Interest on debit and credit balances will be calculated separately at the appropriate tiered rates. CIBC Imperial Investor Service will set the interest rate on debit and credit balances.

Interest rates and the terms of interest rates applicable to debit and credit balances are subject to change from time to time in the sole discretion of CIBC Imperial Investor Service without further notice and may vary according to the size of the debit or credit balance.

Interest amounts less than $5.00 CDN per month are neither charged nor paid on regular accounts and interest amounts less than $1.00 CDN per month are neither charged nor paid on registered accounts.

Interest rates applied to account balances.

Effective December 19, 2024, CIBC Imperial Investor Service interest rates are as follows.

Investment Accounts

Registered Accounts

Current interest rates for foreign currencies and terms of interest rates may be obtained free of charge from a CIBC Investment Representative by calling 1-800-661-7494.

Principal Transactions

For agency transactions, which typically involve options, equity securities, or certain market-linked investments, commissions are charged to clients. For principal transactions, which may include transactions in fixed income or equity securities, or certain market-linked investments, the price includes a spread (i.e., the difference between the bid and offer prices on the security for the applicable marketplace). This spread will differ based upon various factors, such as the nature and liquidity of the security. We or our affiliates will generally benefit from executing principal transactions as a result of the spread and may also gain or lose as a result of changes in the prices of securities held for our own account before sale to, or after a purchase from, clients.

Foreign Currency Transactions

If you make a trade involving a security, or have received corporate entitlements such as dividends or interest from an issuer of securities, which are denominated in a currency other than the currency of the component of the account in which the trade will settle (“Foreign Trade”), a conversion of currency shall be required. In all such transactions, and at any time a conversion of currency is made, we or an affiliate of ours will act as principal with you in converting the currency at rates established or determined by us or parties related to us. In performing this function, we and the parties related to us may earn spread-based revenue (“Spread”), in addition to any commission or fees applicable to such a trade, based on the difference between the rate we and our affiliates obtain and the rate you receive. Conversion of currency will take place at the trade date unless otherwise agreed. Spread rates are subject to change.