As part of the ongoing administration of pension plans registered in Ontario, the Pension Benefits Act (PBA) requires certain forms, certificates, and reports to be filed with the Chief Executive Officer of the Financial Services Regulatory Authority. All the below filings must be filed electronically through the Pension Services Portal.
- Annual Information Return (AIR)
- Pension Benefits Guarantee Fund (PBGF) Assessment Certificate
- Financial Statements (FS)
- Investment Information Summary (IIS)
- Actuarial Valuation Reports (AVR) accompanied by an Actuarial Information Summary (AIS)
- Statement of Investment Policies and Procedures (SIPP) accompanied by a SIPP Information Summary (Form 14)
Steps for submitting prescribed filing:
- Log into the Pension Services Portal (PSP).
- In the top navigation bar, click on ‘E-filing’.
- On the ‘Filing Record’ page, select the:
- Plan number
- Filing type
- Filing year
- Click on ‘Start’ in the ‘Actions’ column.
- On the ‘Filing Profile’ page, answer the questions and then click on ‘Start’.
- If applicable to the prescribed filing, on the ‘Filing Workspace’ page, click on ‘Open filing’* in the ‘Actions’ window. Complete the applicable sections of the form. Warning and error messages (if any) will be displayed as you complete the form. *Filing name will vary based on the filing you have selected.
- Click on ‘Save and Close’.
- On the ‘Filing Workspace’ page, you may be required to upload supporting documentation with the filing, if so, click ‘Upload filing’* in the ‘Actions’ window *Filing name will vary based on the filing you have selected.
- On the ‘Attach Document’ page, click on ‘Browse’. Select the PDF file you want to submit. Click on ‘Save and Close’ to complete the upload process.
- On the ‘Filing Workspace’ page, click on ‘Submit Filing’ in the ‘Actions’ window to begin the submission process.
- On the ‘Submit Filing’ page, click on the checkbox to begin certification.
- Click on ‘Certify & Submit’ to complete the certification and submission process.
Once you submit the filing, you cannot make any changes to it. To make a correction to a previously submitted filing, you must make a re-filing request through the PSP.
Important notes on all prescribed filings:
- Pension Plan Administrators and/or their designated users must accurately complete all relevant sections of the prescribed filing and submit the filing within the prescribed time period.
- Each prescribed filing must be filed in accordance with the PBA and Regulation 909, as well as the user guide associated with the particular filing.
- The Financial Services Regulatory Authority of Ontario will review the submitted data and respond to compliance issues or other concerns, in accordance with current standards.
Notes on AVR submissions:
- As per section 16.1(1) of Regulation 909, R.R.O. 1990, an AVR filed under section 14 must be accompanied by an AIS, if applicable.
- The PSP accepts AVRs that are required to be filed under section 14 of Regulation 909. AVRs required to be filed under other sections of Regulation 909, including but not limited to sections 3, 13 and 32, may not be filed using the PSP at this time.
Please note before the AIS form can be submitted, Part 7, Declaration of the Actuary must be certified by the plan's delegated actuary. If the form is updated after it has been certified, the certification will be removed and the actuary will have to re-certify the form.
Note on IIS submission:
- After completing an IIS submission you must wait two business days after an IIS form, before the subsequent IIS can be filed.
Notes on PBGF submission:
- After filing your PBFG Assessment Certificate, an invoice will be generated as part of the online PBGF submission. If an assessment is payable, you must print the invoice and mail it along with a cheque for the assessment amount. Please ensure your cheque is made payable to the Pension Benefits Guarantee Fund.
Part 2 - Information from the last filed Valuation Report and Reports filed under section 3 of Regulation 909:
- After submitting an AVR on PSP, you must wait two business days to file or re-file the corresponding PBGF. Part 2 of the PBGF is updated two business days after an AVR is submitted. If you don't see Part 2 of the PBGF updated with the new valuation date and period covered by the valuation report, then please 'Abandon' the PBGF filing and 'Start' the PBGF filing again.
Notes on SIPP submission:
- If you require additional asset class types that are not listed on the Form 14, choose ‘Other Asset Class’ from the drop down on the Form 14 menu and enter the asset class name in the 'Description' field.
- If you require more that 15 asset classes to be entered on Form 14, the first 15 asset classes must be entered into the table on Form 14. The additional asset classes must be listed in a separate document, and attached as follows:
- 1. After entering the first 15 asset classes on the online Form 14, click on the ‘Save and Close’ button. You will be presented with the ‘Filing Workspace’ page.
- 2. Scroll down to the ‘Attachments’ box and click on ‘Attach Document’. You will be presented with the ‘Attach Document’ page.
- 3. Click on the ‘Browse’ button from the ‘File name to upload’ field and then chose the PDF file that lists the additional asset classes you wish to submit. Click on the ‘Save and Close’ button.