Office of the Superintendent of Financial Institutions
This Report can be used by federally regulated financial institutions (FRFIs) to meet their obligations to file information under subsection 83.11(2) of the Criminal Code.
This Report must be filed no later than the fifteenth (15th) day of each calendar month. If such day falls on a Saturday, Sunday or statutory holiday, the Report is due on the next business day. Reports must be filed with the Office of the Superintendent of Financial Institutions, Regulatory Data Management Division via the Regulatory Reporting System (RRS).
Canadian financial institutions must include information from branches located outside Canada. This should be included in the "Federally Regulated Financial Institution" column in the table.
The term "Listed Entity" includes entities under the Regulations Establishing a List of Entities. These regulations are made pursuant to the Criminal Code.
This is an aggregate Report of dealings FRFIs have with a Listed Entity or Persons. Do not append personal information or account or policy information. Such information must be directed to the Royal Canadian Mounted Police or the Canadian Security Intelligence Service, and if applicable, the Financial Transactions and Reports Analysis Centre of Canada and, in respect of any foreign operations, foreign law enforcement officials.
All amounts must be stated in Canadian dollars.
NOTE: If the original amount of the property frozen is denominated in a currency other than Canadian dollars, then the Canadian dollar equivalent should be reported using the same rate of exchange that was in effect on the date that the property was originally frozen and reported to law enforcement.
It is an offence under the Criminal Code, to deal in terrorist property. This includes the debiting of service charges and the crediting of interest, and/or , if the frozen property is a securities portfolio, the crediting of interest, dividends or other entitlements and the charging of custody fees, transaction fees or any other debits or credits to the account.
The Report is cumulative. Information reported in the previous month must continue to be reported on the OSFI 525 Report for the current month unless the person in whose name the property is identified is no longer subject to the reporting requirements under subsection 83.11(2) of the Criminal Code. The positive form report is only to be used where the assets have been frozen AND reported to the RCMP. As noted, in #9 below, in all other situations, the simplified report (NIL form) should be used.
If there are no assets frozen, you may use the simplified reporting form to confirm this. This includes situations where you may be seeking clarification from the authorities about whether an account holder is in fact a Listed Entity; in other words you may make the simplified filing where you have not made a determination that you are dealing with a Listed Entity. There is no need to report numbers of accounts where you are still seeking clarification from the authorities.
This form is for use by Federally Regulated Financial Institutions only. Canadian Financial Institutions that are NOT FRFIs and that are regulated by a provincial regulator (such as a securities commission or a financial services commission) or the Investment Dealers Association (IDA) or the Mutual Funds Dealers Association are requested to use the appropriate reporting form issued by the province or the IDA.
This form must be completed by every FRFI, including FRFI subsidiaries of FRFIs.
All amounts and numbers provided must be entered in the table. Appendices that refer to additional information are not acceptable unless they provide clarifying information relating to data in the table.
The "Reporting Month" is the month on which the report was based (e.g. for the report due on December 15th, the reporting month would be November).
At each month end, an OSFI-525 (525 - Listed Entity Reporting Form) will be created within each FRFI's RRS Draft Returns Folder. This return can only be completed and submitted using the RRS online form.
The online form contains both the Nil and Positive Report. The system will provide the appropriate form based on the type of report selected to be filled out on the cover page. Any questions should be directed via email to RA-RRS.Support@osfi-bsif.gc.ca .
For electronic filing instructions, please refer to the Regulatory Reporting System (RRS) – Manage Financial Returns User Guide located on the OSFI website.