Our system now requires every investor to provide their Social Insurance Number (SIN) before they can invest. But that wasn’t always the case.
Short answer: Our system now requires every investor to provide their Social Insurance Number (SIN) before they can invest. But that wasn’t always the case.
🕰️ A quick look back
When addy first launched, it was possible for investors to skip entering their SIN. That’s because the system didn’t always enforce it — especially for early adopters who signed up before the current compliance rules were in place.
🔒 What’s changed?
Today, our platform requires a valid SIN from every investor before they can participate in an offering. This change aligns with Canadian regulatory requirements and helps us generate the right tax documents (like the T5013) at the end of each year.
If someone tries to invest and their SIN isn’t on file, they’ll be prompted to add it before they can complete the transaction.
🧑💻 What about older investors without SINs on file?
We’ve taken proactive steps to clean this up.
If any investor’s SIN is missing from historical records, we’ve already reached out to them directly — by email and by physical mail — requesting that they update their information.
Each contact attempt is documented internally to ensure a full audit trail of our outreach.
💡 Why does this matter?
Having a SIN on file is required for tax reporting. Without it, investors may not receive their full tax documentation, and distributions may be delayed or held back until the info is received.
If you’re an issuer and still see investors with missing SINs, it’s likely they’re from the early days of the platform. We’re working to close those gaps as quickly (and thoroughly) as possible.
Need help tracking down a specific investor’s SIN status? Reach out to support@addyinvest.com and our team will assist.