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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:
 
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):
 
 

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).
  

*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 exempt from the requirement to file PBGFs. This includes designated plans, 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 the FS. This form is not required for defined benefit plans that are designated or, 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)
 
Up to April 1, 2007, the AIR fee structure for all pension plans was $6.15 per active member and $4.25 per former member or other beneficiary. The minimum fee was $250 and the maximum fee was $75,000. For AIRs received after the prescribed due date, the late filing fee is equal to 10% of the AIR filing fee. In addition, interest is charged on any late payment from the day following the due date to the date payment is actually received. Interest rates are adjusted on a quarterly basis.
 
From April 1, 2007 onwards, AIR filing fees are no longer required. However, the AIR form must still be filed within existing filing deadlines. A Pension Assessment invoice [PDF Document] Size: 130 kb is sent annually to all pension plan administrators, informing them of the amount that needs to be paid. The assessment must be paid within 30 days of the date of the assessment. The AIR is a joint filing with the Canada Revenue Agency (CRA) and for AIRs received after the prescribed due date, CRA charges 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.
 
 
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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