Filing of 2020 Annual Return for Ontario
It is time to file your annual returns.
Pursuant to Section 102 of the Insurance Act (Ontario), all Ontario insurers are required to file annual returns for the year ended on October 31, 2020 or December 31, 2020, with the Superintendent of Financial Services, or his or her designate. Section 447 of the Insurance Act provides penalties for those insurers who do not comply with the filing requirements. If you do not file, your company is not compliant.
Filing Requirements
Updates required for 2020 include:
- 2020 Annual Return Instructions
- Memorandum regarding the 2020 Report of the Actuary
- Filing Information for Insurers Licensed in Ontario
- Avoiding over-assessment for companies with insurance subsidiaries
Required forms are also available for download:
- Premium Information used for Cost Assessment in Ontario
- Consent and Notification pursuant to the Freedom of Information and Protection of Privacy Act
Where Auditors’ Reports are referenced, we require both the Auditors’ Report addressed to the primary regulator and the Auditors’ Report to the shareholders/policyholders together with the audited financial statements.
If the company intends to change its licence status (i.e. discontinuing, withdrawing or merging) the Licensing Approvals Unit should be contacted at [email protected]. If appropriate, adjustments will be made to the 2020 Preliminary Assessment.
French versions of the documents are available upon request.
All Section 102 filings should be filed with the Financial Services Regulatory Authority of Ontario (FSRA) by February 28, 2021. Please forward your electronic documents to [email protected]
For more information
Helpful resources on updated forms and instructions are also available on The Office of Superintendent of Financial Institution’s website or the FSRA website.
If you have any issues or concerns, please do not hesitate to contact [email protected].