I am assuming the GIC is held within an RSP. Go to the new institution to complete the RSP transfer forms (can't remember the number or the name of the form). On or close to the maturity date, the new institution will send the forms to the current one for the transfer. The actual transfer can take a week or two. You cannot touch the $$ yourself, or this will constitute a withdrawal and you will be taxed. The transfer must be between the institutions. If it's done this way, nothing is reported on the tax return.
In the meantime, let the current institution know that you don't want the GIC to be reinvested, but to be deposited into the cash account of your RSP.
In the meantime, let the current institution know that you don't want the GIC to be reinvested, but to be deposited into the cash account of your RSP.