The TD settlement Canada claim deadline is here. Canadians who no longer hold TD mutual fund units must submit their claim form by Thursday, August 28, 2026, to receive part of the $8.5 million settlement.
Background on the TD Settlement
In March 2026, the Ontario Superior Court of Justice approved an $8.5 million class-action settlement with TD Asset Management Inc. The lawsuit alleged that trailing commissions paid to mutual fund dealers were improper and caused investors to earn reduced returns on their units.
Trailing commissions, also known as trailer fees, are payments to advisors for providing investment guidance. However, the lawsuit argued that these commissions were also paid to discount brokers, who did not provide advisory services, leading to unfair costs for investors.
TD Asset Management denied wrongdoing but agreed to the settlement as a resolution.
Calculate Your 2026 COLA Increase →Who Is Eligible for the TD Settlement Canada?
Eligibility applies to anyone who held or currently holds units of a TD mutual fund trust on or before September 11, 2026.
However, this specific settlement does not include investors who held units through discount brokers, as a separate $70.25 million settlement covered them in 2026.
How to Claim the Settlement
- Current TD Mutual Fund Holders: If you still own TD mutual fund units, no action is required. Settlement funds will be automatically distributed into each TD mutual fund trust.
- Former TD Mutual Fund Holders: If you no longer hold units, you must submit a claim form by August 28, 2026 to receive compensation. Claims submitted after this deadline will not be accepted.
Discount Broker Investors – Separate Settlement
Canadians who held TD mutual funds through online discount brokers (such as BMO InvestorLine, TD Direct Investing, RBC Direct Investing, CIBC Investor’s Edge, Scotia iTRADE, and National Bank Direct Brokerage) are part of a separate settlement worth $70.25 million that was finalized in 2026.
The TD settlement Canada provides compensation to investors impacted by improper trailing commission practices. If you are a former holder of TD mutual fund units, act today to secure your share before the claim deadline passes.
