Service Fees

The Office of the Superintendent of Financial Institutions (OSFI) will implement annual, indexed increases to its fees to keep pace with inflation. Annual fee increments based on the Consumer Price Index (CPI), as per the Service Fees Act (Act) provisions, will be added to OSFI’s fees that are paid by non-federally regulated institutions such as new applicants, and those that are charged for rulings, interpretations, capital quality confirmations, and copies of corporate documents.

If OSFI is unable to meet its service standards in relation to a fee-based application, we may reimburse the fee, or a portion of it, to the client pursuant to Section 7 of the Act. This requirement reinforces accountability around service delivery, and helps us set meaningful and realistic service expectations.

On April 1, 2022 and every subsequent year on April 1, all fees set out in the Regulations Amending the Charges for Services Provided by the Office of the Superintendent of Financial Institutions Regulations 2002 will be adjusted by the percentage change over 12 months in the April All-items Consumer Price Index for Canada, as published by Statistics Canada under the Statistics Act, for the previous fiscal year. All adjusted fees will be rounded to the nearest dollar.

The April 2021 CPI rate of 3.4% will be used for our indexing for the fiscal year of 2022-23 on April 1, 2022. Therefore, the following fees table will be in effect April 1, 2022:

SCHEDULE 1
ItemServiceFee ($) until
March 31, 2022
Fee ($) as of
April 1, 2022
1Letters patent of incorporation33,29134,423
2Letters patent of continuance33,29134,423
3Order permitting a foreign bank to carry on business in Canada33,29134,423
4Order approving the insuring in Canada of risks by a foreign body corporate33,29134,423
14Exemption from material banking group status8,3238,606
15Approval for a foreign bank or an entity associated with a foreign bank to have a financial establishment in Canada8,3238,606
16Approval for a foreign bank or an entity associated with a foreign bank in respect of investments and activities8,3238,606
21Approval to maintain a representative office of a foreign bank4,9945,164
40Reservation of a name832860
SCHEDULE 2
ItemServiceFee ($) until
March 31, 2022
Fee ($) as of
April 1, 2022
1Written, precedent-setting ruling relating to the quality of capital6,6596,885
2Accreditation of provincial reinsurer4,1624,304
3Written interpretation of Acts, regulations, guidelines or rulings4,1624,304
4Written, non-precedent-setting confirmation of quality of capital4,1624,304
10Copies of any one of the following corporate documents (per request and per body corporate):
  1. a certificate of confirmation;
  2. a certified copy of letters patent or of incorporation or amalgamation documents; and
  3. the corporate history of a body corporate
167 for up to 20 copies plus 5 for each additional copy173 for up to 20 copies plus 5 for each additional copy