A Hard Deadline Looms for TD Settlement Claims
Canadians across the country are being urged to make their claims before time runs out to receive compensation from a class-action settlement tied to TD Asset Management and mutual fund fees. With only a few days left, financial advisers and lawyers are reminding eligible investors not to miss out on their share of roughly $70 million in settlement funds.
The clock is ticking because the claims bar deadline is December 20, 2025, and after that date, people who qualify may lose the ability to submit paperwork and participate in the payout.
What This Settlement Is About
This settlement stems from a class-action lawsuit alleging that TD Asset Management improperly used mutual fund assets to pay trailing commissions to discount brokers. These commissions are fees paid by fund companies to brokers over time, and critics argued they unfairly reduced returns for investors.
Under the settlement terms, eligible individuals who held units of TD mutual funds through discount brokers before September 11, 2024, may receive compensation but only if they file a valid claim before the deadline.
Who’s Eligible to File a Claim
To be eligible, Canadians must have:
• Held units of a TD mutual fund through a discount brokerage at any time on or before Sept. 11, 2024.
• Filed a claim before Dec. 20, 2025.
Discount brokers include platforms like Questrade, Wealthsimple, RBC Direct Investing, TD Direct Investing and others basically, brokers where investors buy and sell their own mutual funds rather than going through a financial advisor.
Those who held TD funds outside of discount brokers may be part of a different settlement and should check separate notices.
Why You Shouldn’t Wait
Legal experts and settlement administrators are stressing urgency because once the deadline passes, Canadians who might have qualified lose the chance to get money they are entitled to under the settlement.
Filing a claim generally involves submitting a Claim Form online through the official settlement website or by mail, using details from notices that many eligible investors already received.
Next Steps for Eligible Investors
If you think you qualify, check your email or mailed notices for claim instructions and deadlines, or visit the official settlement site directly. Don’t wait until the final days because processing and confirmation times can delay completion.
For Canadians who aren’t sure if they’re eligible, it’s worth reviewing official settlement documents or speaking with a legal professional to confirm your status before it’s too late.
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