May 1, 2019
Deadline: May 31, 2019
Pursuant to Directive No. 5R5, Estate Funds and Banking, Licensed Insolvency Trustees (LITs) 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, 2019. All estates must be listed in the ABR; please do not forget to include joint estates and estates with $0 balances.
Each year, an increasing amount of estate banking information is filed electronically, surpassing 93% last year! The OSB will be working to phase out paper filing in the near future. Electronic filing immediately transfers the data without the need for manual input, which is more efficient and ensures integrity of the data. This significantly reduces the amount of work on the part of both LITs and the OSB.
We strongly encourage you to use the electronic ABR system for this year’s filing.
Instructions for electronic filing
Please do not forget to file your electronic ABR under your corporate licence.
Instructions
- If you have not already done so, contact your software provider to obtain any necessary update.
- Log in to the E-Filing system; in your user profile, make sure your email address is correct (to ensure that you receive an ABR confirmation email, per each electronically submitted ABR accepted by the OSB).
- Click on “Upload Annual Banking Report” in the left menu.
- Upload the ABR data file.
- Record the reference number.
- 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, 2019. 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.
- Indicate on the first page of Schedule 2 the name of each LIT responsible for bank accounts.
- Paginate the ABR.
- Use a legible font style and size (e.g. Times New Roman 11 or greater).
- Group together estates with funds deposited in the same consolidated account.
- 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.
- Indicate the total number of estates and total bank balances in consolidated bank accounts.
- 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, Nova Scotia B3J 3K5
Attention: Kerry Lawrence
kerry.lawrence@canada.ca
Québec City Office
702-1550 d'Estimauville Avenue
Québec, Quebec G1J 0C4
Attention: Johanne Picard
johanne.picard@canada.ca
Montréal Office
1155 Metcalfe Street, Suite 950
Montréal, Quebec H3B 2V6
Attention: Evangelia Costamis
evangelia.costamis@canada.ca
Ontario Region
Toronto Office
151 Yonge Street, 4th Floor
Toronto, Ontario M5C 2W7
Attention: Raquel McGee
raquel.mcgee@canada.ca
Western Region
Calgary Office
Harry Hays Building
220 4th Avenue SE, Suite 478
Calgary, Alberta T2G 4X3
Attention: Heather Chan
heather.chan@canada.ca