Office of the Superintendent of Financial Institutions
The Honourable Chrystia Freeland, P.C., M.P. Minister of Finance
© Her Majesty the Queen in Right of Canada, represented by the Minister of Finance, 2020
Catalogue No. IN3-34E-PDF
This document is available on the Government of Canada website at
This document is available in alternative formats upon request.
On behalf of the Office of the Superintendent of Financial Institution (OSFI), I am pleased to present our report on fees for 2019-20.
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 year’s report continues to provide detail on each fee, such as the type and rate of adjustment, the service standard and the performance result. This information provides context on each fee, in the spirit of open and transparent fee management.
I will continue to lead OSFI’s transition to the reporting regime provided under the
Service Fees Act.
Jeremy Rudin Superintendent
This report, which is tabled under section 20 of the
Service Fees Act and section 4.2.8 of the
Directive on Charging and Special Financial Authorities, contains information about the fees that OSFI had the authority to set in 2019–20.
Government of Canada departments may set fees for services, licences, permits, products, the use of facilities; for other authorizations of rights or privileges; or to recover, in whole or in part, costs incurred in relation to a regulatory scheme.
For reporting purposes, fees must be categorized under the following three fee setting mechanisms:
This report contains information about all fees that are under OSFI’s authority, including any that are collected by another department.
The information covers fees that are subject to the
Service Fees Act.
For fees set by contract, fees set by market-rate, auction or both, the report provides totals only. For fees set by act, regulation or fees notice, it provides totals for fee groupings, as well as detailed information for each fee.
Although the fees that OSFI charges under the
Access to Information Act are subject to the
Service Fees Act, they are not included in this report. Information on OSFI’s access to information fees for 2019–20 can be found in our access to information report, which is posted on
A remission is a partial or full return of a fee to a fee payer who paid for a service for which a department deemed that the service standard was not met.
Service Fees Act, departments must develop policies for determining whether a service standard has been met and for determining how much of a fee will be remitted to a fee payer if a service standard is not met. This requirement will not take effect until April 1, 2021, so this report does not include remissions issued under the
Service Fees Act. It does, however, include remissions issued under OSFI’s enabling legislation.
The following table presents the total revenue, cost and remissions for all fees that OSFI had the authority to set in 2019–20, by fee setting mechanism.
The following tables present, for each fee grouping, the total revenue, cost and remissions for all fees that OSFI had the authority to set in 2019–20 that are set by any of the following:
A fee grouping is a grouping of all the fees that a department has the authority to set for activities relating to a single business line, directorate or program.
This section provides detailed information on each fee that OSFI had the authority to set in 2019–20 and that was set by any of the following:
All service standards in this report will be updated by April 1, 2021 to ensure compliance with the
Service Fees Act.Footnote 1
Fee revenues are recognized on a percentage of completion basis. For this reason, the 2019-20 total fee revenue will not necessarily be equal to the number of cases processed (or approved) multiplied by the individual fee amount. Applications processed refers to applications completed with a decision rendered.
While the standards were reviewed and updated in 2019-20, the revised standards will not be in effect until OSFI’s new Remission Policy is implemented on April 1, 2021.
Return to footnote 1