FSCO to Make Electronic Filing Mandatory

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In March of 2010, the Financial Services Commission of Ontario (FSCO) launched its Pension Services Portal (PSP), which enables plan administrators to file Annual Information Returns, Investment Information Summaries, Pension Benefits Guarantee Fund Assessment Certificates, Pension Plan/Fund Financial Statements, Actuarial Information Summaries, and Actuarial Valuation Reports electronically. 

Last week, FSCO announced that effective January 1, 2013 all of  these filings must be filed electronically, as plan administrators will no longer have the option of submitting these filings in paper format.

To file electronically, plan administrators and/or their agents must first activate their unique PSP accounts. FSCO has posted instructions on how to activate a PSP account, as well as a series of FAQs providing more information.

 

Published In: Administrative Agency Updates, Finance & Banking Updates, Labor & Employment Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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