Financial Transactions and Reports Analysis Centre of Canada Fees Report Fiscal year 2024–25

The Honourable François-Philippe Champagne, P.C., M.P.
Minister of Finance and National Revenue

© His Majesty the King in Right of Canada, represented by the Minister of Finance and National Revenue, 2025
Catalogue No. FD2-5E-PDF
ISSN 2562-3842

Director and Chief Executive Officer's message

I am pleased to present the Financial Transactions and Reports Analysis Centre of Canada's (FINTRAC) report on fees for 2024–25.

The Service Fees Act provides a modern legislative framework that enables cost-effective delivery of services and, through better reporting to Parliament, improves transparency and oversight.

This report represents an important milestone for FINTRAC, as it reflects our commitment to open and transparent fee management.

As Canada's financial intelligence unit and anti-money laundering and anti-terrorist financing regulator, FINTRAC plays a critical role in safeguarding the integrity of Canada's financial system. While FINTRAC continues to receive funding through appropriations from the Government of Canada, FINTRAC's Assessment of Expenses Regulations include a new funding model that charges reporting entities for the annual cost of its compliance program. This model, effective April 1, 2024, shifts the financial responsibility from taxpayers to businesses and individuals subject to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and represents a step forward in ensuring that the Centre operates efficiently and sustainably.

The tabling of this report demonstrates FINTRAC's ongoing dedication to accountability and transparency in its operations.

Sarah Paquet
Director and Chief Executive Officer

About this report

This report, which is tabled under section 20 of the Service Fees Act, the Low-Materiality Fees Regulations, and subsection 4.2.9 of the Treasury Board Directive on Charging and Special Financial Authorities, contains information about the fees FINTRAC had the authority to charge in fiscal year 2024–25.

The report covers fees that are subject to the Service Fees Act.

For reporting purposes, fees are categorized by fee-setting mechanism. There are three mechanisms:

Act, regulation or fees notice
The authority to set these fees is delegated to a department, minister or Governor in Council pursuant to an act of Parliament.
Contract
Ministers have the inherent authority to enter into contracts, which are usually negotiated between the minister and an individual or organization, and which cover fees and other terms and conditions. In some cases, that authority may also be provided by an act of Parliament.
Market rate or auction
The authority to set these fees comes from an act of Parliament or a regulation, and the minister, department or Governor in Council has no control in determining the fee amount.

For fees set by act, regulation or fees notice, the report provides totals for fee groupings, as well as detailed information for each fee. FINTRAC did not have fees set by contract, market rate or auction.

Fees charged by FINTRAC under the Access to Information Act are not subject to the Service Fees Act and are not included in this report. Information on FINTRAC's access to information fees can be found in our annual report to Parliament on the administration of the Access to Information Act.

Remissions

In 2024–25, FINTRAC was not subject to the requirements in section 7 of the Service Fees Act and had no authority to remit, so this report does not include remission amounts.

Overall totals, by fee-setting mechanism

The following table presents the total revenue, cost and remissions for all fees FINTRAC had the authority to charge in 2024–25, by fee-setting mechanism.

Overall totals for 2024–25, by fee-setting mechanism
Fee-setting mechanism	Revenue ($)	Cost ($)	Remissions ($)
Fees set by act, regulation or fees notice	48,011,328	48,011,328	These fees were not subject to remissions.

Totals, by fee grouping, for fees set by act, regulation or fees notice

A fee grouping is a set of fees relating to a single business line, directorate or program that a department had the authority to charge for those activities.

This section presents, for each fee grouping, the total revenue, cost and remissions for all fees FINTRAC had the authority to charge in 2024–25 that are set by the following:

act
regulation

Assessment of compliance program expenses: totals for 2024–25
Revenue ($)	Cost ($)	Remissions ($)
48,011,328	48,011,328	These fees were not subject to remissions.

Details on each fee set by act, regulation or fees notice

This section provides detailed information on each fee FINTRAC had the authority to charge in 2024–25 and that was set by the following:

act
regulation

Fee grouping

Assessment of compliance program expenses

Fee

Assessment of compliance program expenses

Fee-setting authority

Year fee-setting authority was introduced

2024

Last year fee-setting authority was amended

Not Applicable

Service standard

Not subject to service standard requirement of the Service Fees Act

Performance result

Not subject to service standard requirement, pursuant to the Service Fees Act

Application of Low-Materiality Fees Regulations

Not subject to section 17 of the Service Fees Act

2024–25 fee amount ($)

48,011,328

2024–25 total fee revenue ($)

49,361,846

2024–25 total remissions issued for the fee ($)

This fee was not subject to remissions

Fee adjustment date in 2026–27

FINTRAC shall, before December 31 in each year, ascertain the total amount of prescribed expenses incurred during the immediately preceding fiscal year.

2026–27 fee amount ($)

These assessments are fees that are set and calculated based on a complex formula for which the application and definition can be found in the following regulations:

Financial Transactions and Reports Analysis Centre of Canada Assessment of Expenses Regulations: SOR/2023-195

Date Modified:: 2025-10-20

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