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Insurance Fee Schedule
Every insurance company and fraternal benefit society incorporated in B.C. that held a business authorization for this province at the end of its latest fiscal year is required to pay an annual fee. This annual fee is calculated using the table prescribed under Schedule 1, Item 11.1 of the Financial Institutions Fees Regulation (Fees Regulation) applied to direct premiums written in B.C. of the company at its fiscal year end. The deadline for payment of the annual fee is 60 days after the latest fiscal year end.
The Annual Fee Schedule (below) sets out the method for calculating the annual fee.
Please pay the Insurance Company Annual Fee through the IRIS. IRIS will calculate the annual fee based on your company’s direct premiums written in B.C.
You may pay by credit card (maximum $6,000), Electronic Fund Transfer (“EFT”), wire transfer, or cheque. Be sure to indicate your method of payment and complete the required fields in the IRIS Portal. Please refer to instructions for using the IRIS Portal for payments.
You are responsible for ensuring your payment is received before the deadline.
You will receive a payment confirmation by email once your payment has been received.
Annual Fee Schedule
Schedule 1, Item 11.1 of the Fees Regulation requires every B.C. incorporated insurance company and B.C. incorporated fraternal benefit society authorized to conduct insurance business in the province of B.C. to pay BCFSA an annual fee. Please use the IRIS to calculate and pay the annual fee.
This annual fee is calculated by applying the table outlined in Schedule 1, Item 11.1 of the Fees Regulation, summarized in the table below, to the company’s direct written premiums from insurance business carried on in B.C. as at the company’s fiscal year end.Fiscal Year End Total
Non-consolidated AssetsFiscal Year End Direct Premiums Written in B.C. $100 million or less of total non-consolidated assets $5,000 + 0.019% of direct premiums written in B.C. Greater than $100 million to $1 billion of total non-consolidated assets $7,500 + 0.019% of direct premiums written in B.C. Greater than $1 billion of total non-consolidated assets $10,000 + 0.019% of direct premiums written in B.C. Also refer to the below listed asset and premiums page numbers.
1. Asset page reference
Annual Return Asset Page Reference Asset Line and Column Reference PC2 for Q4 page 92.10 line 89, column 1 LF2 for Q4 page 70.002 line 999, column 1 2. Premiums page reference
Annual Return Premiums Page Reference Premiums Line and Column Reference PC2 for Q4 page 93.30 line 79, column 10 LF2 for Q4 page 95.010 sum of lines 020,120,220,320,420,and 520, column 10 Annual Fee Schedule
Schedule 1, Item 11.1 of the Fees Regulation requires every extraprovincial insurance company and extraprovincial fraternal benefit society authorized to conduct insurance business in the province of B.C. to pay BCFSA an annual fee. Please use the IRIS Portal to calculate and pay the annual fee.
This annual fee is calculated by applying the table outlined in Schedule 1, Item 11.1 of the Fees Regulation, summarized in the table below, to the company’s direct written premiums from insurance business carried on in B.C. as at the company’s fiscal year end.Fiscal Year End Total
Non-Consolidated AssetsFiscal Year End Direct Premiums Written in B.C. $100 million or less of total non-consolidated assets $5,000 + 0.019% of direct premiums written in B.C. Greater than $100 million to $1 billion of total non-consolidated assets $7,500 + 0.019% of direct premiums written in B.C. Greater than $1 billion of total non-consolidated assets $10,000 + 0.019% of direct premiums written in B.C. Also refer to the below listed asset and premiums page numbers.
1. Asset page reference
Annual Return Asset Page Reference Asset Line and Column Reference PC1 for Q4 or PC2 for Q4 page 20.10 or 92.10 line 89, column 1 LF1 for Q4 or LF2 for Q4 page 20.002 or 70.002 line 999, column 1 MI3 for Q4 or MI4 for Q4 page 20.10 or 92.10 line 89, column 1 2. Premiums page reference
Annual Return Premiums Page Reference Premiums Line and Column Reference PC2 for Q4 page 93.30 line 79, column 10 LF2 for Q4 page 95.010 sum of lines 020,120,220,320,420, and 520, column 10 MI4 for Q4 page 93.30 line 62, column 10