Prepare to file the 2014 Annual Information Return (AIR)
File the 2014 AIR between January 22 and March 31, 2015
Log in to Licensing Link to complete and submit the online form in English. If you require the form in French, please contact FSCO at 1-800-668-0128 (toll-free) or (416) 250-7250.
The 2014 AIR must be submitted by March 31, 2015
Mortgage brokerages that fail to submit the AIR by March 31, 2015 may be required to pay an administrative monetary penalty of $1,000. Non-compliance increases FSCO’s regulatory costs and impacts the fees you pay.
Even if the brokerage did not do any business in 2014, the mortgage brokerage is still required by law to file the 2014 AIR.
If the mortgage brokerage did not do any business in 2014 and does not have any plans to continue the mortgage brokering activity, the mortgage brokerage can apply to surrender the mortgage brokerage licence, subject to the Superintendent’s approval. For more information, please contact FSCO by email at email@example.com.
Filing the AIR is a mandatory legal requirement
The AIR is designed to collect information from mortgage brokerages about their business practices, internal controls and market conditions in the previous year. The information is used to assist FSCO in its risk assessment and oversight of mortgage brokerages. The reporting period is January 1 to December 31, 2014.
Electronic filing (e-filing) of the AIR is mandatory in accordance with the Superintendent's Rule governing the filing of the AIR.