Office of the Superintendent of Financial Institutions
The Office of the Superintendent of Financial Institutions charges fees for services in accordance with the
Service Fees Act (the
Act requires the implementation of
service standards for the delivery of services that are subject to a fee.
When service standards are not met, Section 7 of the
Act requires OSFI to remit all or part of the fee paid to the payer before July 1, of the following fiscal year.
Remissions will not be issued for service standards that were missed due to circumstances outside of the department's control such as acts of nature that require the removal of personnel or prevent personnel from accessing their workplace (e.g. floods, power failures, etc.), labour disruptions that prevent the delivery of services, or delays caused by the applicant's failure to provide information in a timely manner.
OSFI reviews service standards for all service fees quarterly and will remit fees in the form of a refund for service standards missed in the subsequent quarter in accordance with the following table. Please note that interest is not paid on pending remissions.
Standard missed by 1 to 180 days
% of fee remitted
Standard missed by more than 180 days