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Reporting entities subject to charges : Charging reporting entities for FINTRAC’s compliance program

From: Financial Transactions and Reports Analysis Centre of Canada (FINTRAC)

FINTRAC will charge the following reporting entities for the annual cost of its compliance program as part of its assessment of expenses funding model:

Note: Threshold transactions are transactions of $10,000 CAD or more that must be reported to FINTRAC, such as:

For further information about:

During the first year of the implementation of the funding model (April 1, 2024 to March 31, 2025), the reporting entities other than federally regulated banks, trust and loan companies, and life insurance companies that may be charged include the following:

From year to year, the reporting entities other than federally regulated banks, trust and loan companies, and life insurance companies that are charged can vary based on threshold transaction reporting volumes.

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