Annual Banking Report 2017

May 4, 2017

Deadline: May 31, 2017

Pursuant to Directive No. 5R5, Estate Funds and Banking, Licensed Insolvency Trustees (LIT) and administrators are required to submit their Annual Banking Report (ABR) and Request for Bank Confirmation to the Office of the Superintendent of Bankruptcy (OSB) no later than May 31, 2017. All estates must be listed in the ABR; please do not forget to include joint estates and estates with $0 balances.

Last year, over 90% of you filed electronically! We strongly encourage you to use the ABR electronic filing system. Electronic filing is more efficient as the data transfer is immediate and also ensures data integrity, as no manual data input is required. The alternative method, paper filing, requires significant additional work on the part of both LITs and the OSB.

Instructions for electronic filing

Please, do not forget to file your electronic ABR under your corporate licence.

Instructions:

  1. If you have not already done so, contact your software provider to obtain any necessary update.
  2. Log in to the E-Filing system and click on “Upload Annual Banking Report” in the left menu.
  3. Upload the ABR data file.
  4. Record the reference number.
  5. Mail the original of Schedule 1 (Request for Bank Confirmation) to your Regional Coordinator

For more detailed instructions, see E-Filing: A Guide for Insolvency Professionals (PDF version, 10.13 MB, 83 pages).

Instructions for paper filing

Mail the following documents to your Regional Coordinator:

  • Request for Bank Confirmation (Schedule 1) for each financial institution in which the LIT or administrator has trust accounts (do not forget to include the LIT’s full address).
  • Annual Banking Report (Schedule 2) for all trust accounts open as of April 30, 2017.
    Note: Only the version of Schedule 2 found in Directive No. 5R5 will be accepted. If necessary, check with your software provider to ensure that you have the latest version of Schedule 2.
  1. Indicate on the first page of Schedule 2 the name of each LIT responsible for bank accounts.
  2. Paginate the ABR.
  3. Use a legible font (e.g., Times New Roman 11 or greater).
  4. Group together estates with funds deposited in the same consolidated account.
  5. Indicate the name of a contact person who can respond to questions from the OSB and be responsible for any subsequent follow-up that might be necessary.
  6. Indicate the total number of estates and total bank balances in consolidated bank accounts.
  7. Mail the ABR to your Regional Coordinator prior to May 31—do not email it.

Do not hesitate to contact your Regional Coordinator if you have any questions regarding the ABR.

Thank you,

Daniel Charrette
Deputy Superintendent, Program Policy and Regulatory Affairs

Regional Coordinators

Eastern Region

Halifax Office
1505 Barrington Street, 16th Floor
Halifax NS B3J 3K5
Attention: Nathalie Robichaud-Wong

Québec City Office
702-1550, d’Estimauville Avenue
Québec QC G1J 0C4
Attention: Maria Liliana Cozma

Montréal Office
1155 Metcalfe Street, Suite 950
Montréal QC H3B 2V6
Attention: Shemin Mawji

Ontario Region

Toronto Office
151 Younge Street, 4th Floor
Toronto ON M5C 2W7
Attention: Tania Lavoratore

Western Region

Calgary Office
639-5th Avenue South West, Suite 400
Calgary ABT2P 0M9
Attention: Heather Chan

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