Pension Plan Administrators and/or delegated third parties/agents now have the ability to request extensions for filing deadlines through the Pension Services Portal (PSP).
By using the PSP’s new online application, filing extensions can be requested for all prescribed filings:
- Annual Information Return (AIR);
- Pension Benefits Guarantee Fund Assessment Certificate (PBGF);
- Actuarial Valuation Report (AR) and accompanying Actuarial Information Summary (AIS); and
- Pension Plan/Fund Financial Statements (FS) and accompanying Investment Information Summary (IIS).
The benefits of this new online application include a faster response time to any filing extension request and a more efficient submission process.
Paper Requests Can Still be Made
This new electronic process went into effect on May 28, 2012 and is in addition to FSCO’s current practice, which is outlined in Pension Policy D050-801 (Extension of Deadline for Filings). (Note that the requirements of that policy remain in effect, regardless of whether the request is being made through the PSP, or otherwise.)
How to Request a Filing Extension
- Before a filing extension request can be submitted through the PSP, a Pension Plan Administrator must first activate his/her personal PSP account. (If this has not been done, please refer to the Instructions for Activating Your PSP Account.)
- Once the Pension Plan Administrator’s PSP account is activated, he/she has the option to delegate PSP access to third parties/agents, and the ability to request the filing extension. (To delegate access to the PSP, please refer to the FAQ: Can Pension Plan Administrators delegate to third parties/agents to submit filings on their behalf?)
- Select “Application” from the top menu bar. Since “Filing Extension” is the only application that is currently being offered, follow the on-screen instructions and answer any questions that are displayed.
- Upload any supporting documentation (if the PSP indicates that this is required).
- Requests for an extension to a filing deadline which meet certain criteria will be automatically approved or rejected by the PSP. The Pension Plan Administrator or delegated third party/agent will receive an email notification, and the approval letter will be available for viewing and printing on the PSP. If a request requires further review, it will be automatically forwarded to FSCO staff and the requestor will be notified by email of this action.