BAIXAR FILME
#62.5 - Volume 7 Omake 10-03-2017

Filing Information for Pension Plan Administrators

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Filing Information for Pension Plan Administrators As part of the ongoing administration of pension plans registered in Ontario, the Pension Benefits Act (PBA) requires five scheduled filings; four for the Superintendent of Financial Services and one for the Fund Trustee(s).

Filings to be submitted to the Superintendent of Financial Services: Financial Statements (FS) accompanied by a Investment Information Summary (Form 8) Actuarial Reports (AR) accompanied by an Actuarial Information Summary (AIS) Annual Information Return (AIR) Pension Benefits Guarantee Fund Assessment Certificate (PBGF) Statement of Investment Policies and Procedures (SIPP) accompanied by a SIPP Information Summary (Form 14) Effective January 1, 2013, all the above pension plan filings with a due date on or after January 1, 2013, must be filed electronically through the Pension Services Portal (PSP).

Filings to be submitted to the Fund Trustee(s): Form 7 – Summary of Contributions/Revised Summary of Contributions

Due Dates: Defined Benefit Pension Plans

Defined Contribution Pension Plans

AIR*

Required annually, 9 months after the plan year end.

Required annually, 6 months after the plan year end.

PBGF*

Required annually, 9 months after the plan year end (See Note 1).

n/a

FS and IIS

Required annually, 6 months after the plan year end (See Notes 2 and 3).

Required annually, 6 months after the plan year end (See Notes 2 and 3).

AR and AIS

Required at least every 3 years, within 9 months of the valuation date. Under certain circumstances, annual ARs within 9 months of the valuation date are required.

n/a

Form 7

Required annually, within 60 days of the beginning of each fiscal year, and within 60 days of a contribution change (See Note 4).

Required annually, within 60 days of the beginning of each fiscal year, and within 60 days of a contribution change (See Note 4).

SIPP and

Required as follows: • by March 1, 2016, for plans registered before January 1, 2016; • 60 days from plan registration for plans registered on or after January 1, 2016.

Required as follows: • by March 1, 2016, for plans registered before January 1, 2016; • 60 days from plan registration for plans registered on or after January 1, 2016.

Any amendment to the SIPP must be filed within 60 days after it is made.

Any amendment to the SIPP must be filed within 60 days after it is made.

SIPP Information Summary

*For filings with a due date before January 1, 2013, FSCO provided pension plan administrators with forms in paper format, every year. If you wish to submit a filing with a due date before January 1, 2013, in paper format; you may request duplicates from FSCO by email or by calling (416) 590-7177. FSCO will not accept photocopies or altered forms. Note 1: Some plans are not required to file PBGF assessment certificates. This includes designated plans, individual pension plans, jointly sponsored pension plans (JSPPs), multi-employer pension plans (MEPPs), and plans specified under section 47(1) of Regulation 909 made under the PBA. Note 2: Pension plans with assets of $3,000,000 or more, must also file an auditor’s report relating to the FS. Note 3: If the pension plan provides defined benefits, Form 8 – Investment Information Summary must be filed with FSCO, unless the pension plan is a designated plan or an individual pension plan, as defined under the federal Income Tax Act. The form does not need to be filed if the pension plan provides only defined contribution benefits. Note 4: For the pension plan’s first fiscal year, Form 7 – Summary of Contributions/Revised Summary of Contributions is required within 90 days after the plan is established.

Fees/Assessments:

Annual Information Return (AIR) There are no AIR filing fees. However, the AIR is a joint filing with the Canada Revenue Agency (CRA). For AIRs received after the prescribed filing deadlines (see table above), CRA charges a late filing fee. The AIR must be filed within the filing deadlines to avoid a late filing fee.

Pension Benefits Guarantee Fund (PBGF) Assessment Certificate The basic PBGF fee is $5.00 per Ontario pension plan beneficiary. In addition, a percentage of the plan’s solvency shortfall (for Ontario beneficiaries) is added to the base assessment. The maximum fee per Ontario plan beneficiary for unfunded pension plans is $300. For every pension plan that is covered by the PBGF, there is a minimum assessment of $250. Failure to pay within the prescribed timeframe will result in the employer having to pay 120 per cent of the amount to the PBGF, plus interest on the 120 per cent, calculated from the date the amount is due, to the date of payment. The amount of the PBGF assessment is calculated on Form 2.1 – PBGF. More information on the PBGF is available on our website.

Other Filings There are no filing fees associated with FS, IIS, AIS, AR and Form 7 – Summary of Contributions/Revised Summary of Contributions.

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Filing Information for Pension Plan Administrators

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