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Pursuant to the Financial Institutions Act (“FIA”), Section 20 of the Capital Requirements Regulation (“CRR”), and Section 6 of the Liquidity Requirement Regulation (“LRR”), a credit union is required to file electronically the following items with BCFSA by the specified deadline.

Filing Requirements for Credit Unions

Every credit union that held a business authorization for this Province at the end of its latest fiscal year is required to submit regulatory filings to this office and pay an annual fee. The filings must be submitted electronically by the specified due dates.

The BC Financial Services Authority (BCFSA) has a new Integrated Regulatory Information System (IRIS) to further support BCFSA as a modern, efficient, and effective regulator for BC’s financial services sector.

View instructions for managing submissions with IRIS

For reporting purposes, credit unions will identify itself as a Large, Medium-sized I, Medium-sized II or Small credit union based on the total assets reported in the annual FSR for fiscal year 2020, annually thereafter.

Monthly

Filing RequirementsEffective date for filing in IRISDue DateLarge (Assets > $1B)Medium-sized I (Assets > $500M and ≤ $1B)Medium-sized II (Assets > $300M and ≤ $500M)Small (Assets $300M)Preferred Format
Financial and Statistical Return (MFSR) FIA s127(3)April 2022Within 20 days of month endXXXXExcel
Capital Adequacy Return (CAR) FIA s127(3)April 2022Within 20 days of month endXX1__Excel
Liquidity Adequacy Return (LAR) FIA s127(3)October 2021Within 20 days of month endXXXXExcel
Liquidity Coverage Ratio (LCR) FIA s127(3)October 2021Within 30 days of month endXX1__Excel
Regulations Reporting — Justice for Victims of Corrupt Foreign Officials Act Criminal Code s83.11(2) & Justice for Victims of Corrupt Foreign Officials Act s7September 2021By the 15th of each monthXXXXFillable PDF
1Credit unions will report quarterly in the first 6 months being the phase in period after which they would start reporting monthly.

Quarterly

Filing RequirementsEffective date for filing in IRISDue DateLarge (Assets > $1B)Medium-sized I (Assets > $500M and ≤ $1B)Medium-sized II (Assets > $300M and ≤ $500M)Small (Assets $300M)Preferred Format
Financial and Statistical Return (QFSR) June 2022Within 20 days of quarter endXXXXExcel
Capital Adequacy Return (CAR) FIA s127(3)June 2022Within 20 days of quarter end__XXExcel
Liquidity Coverage Ratio (LCR) FIA s127(3)December 2021Within 30 days of quarter end__XXExcel
Net Cumulative Cash Flow (NCCF) FIA s127(3)December 2021Within 30 days of quarter endX___Excel
Residential Mortgage Loans Report (RMLR) FIA s127(3)June 2022Within 30 days of quarter endXXXXExcel

Annual

Filing RequirementsEffective date for filing in IRISDue DateLarge (Assets > $1B)Medium-sized I (Assets > $500M and ≤ $1B)Medium-sized II (Assets ≥ $300M and ≤ $500M)Small (Assets $300M)Preferred Format
ICAAP Report
- ICAAP Report
- ICAAP Key Metrics Report
- Directors’ Resolution Approving the ICAAP Report
FIA s127(3)(a)
Sep/Dec 2021Within 120 days of fiscal year endxxx- PDF

Excel




PDF
Financial and Statistical Return (AFSR)
FIA s127(1)
Sep/Dec 2022Within 90 days of fiscal year endxxxxExcel
Annual Supplemental Information Form
FIA s127(1)
Sep/Dec 2022Within 90 days of fiscal year endxxxxWebform
Capital Adequacy Return (CAR)
FIA s127(1) and CRR s20
Sep/Dec 2022Within 90 days of fiscal year endxxxxExcel
Liquidity Adequacy Return (LAR)
FIA s127(3)(a)
Dec 2021Within 90 days of fiscal year endxxxxExcel
Auditor’s Report on the Capital Adequacy Return (CAR)
FIA s127(1) and CRR s20
Sep/Dec 2022Within 90 days of fiscal year endxxxxPDF
Audited Financial Statements for the Credit Union (incl. Auditor’s Report)
FIA s127(1)(b) and (c)
Sep/Dec 2021Within 90 days of fiscal year endxxxxPDF
Non-consolidated Financial Statements for the Credit Union and its each Subsidiary (incl. any Auditor’s Report)
FIA s127(1)(b)
Sep/Dec 2021Within 90 days of fiscal year endxxxxPDF
Directors’ Resolution Approving the Year-End Filings
FIA s127(1)(d)
Sep/Dec 2021Within 90 days of fiscal year endxxxxPDF
Condensed (or Summarized) Financial Statements (if any)
FIA s128(3)(4) & CUIA s39.48(1)
Sep/Dec 2021Within 90 days of fiscal year endxxxxPDF
Annual Report (if published) FIA s127(3)(c)Sep/Dec 2021Within 150 days of fiscal year endxxxxPDF
Notice of Annual General Meeting CUIA s74 and 78Sep/Dec 2021Within 120 days of fiscal year endxxxxPDF
Corporate Information Form FIA s127(3)(c)Sep/Dec 2021Within 90 days of fiscal year endxxxxFillable PDF
List of Directors and Senior Officers FIA s127(3)(d)Sep/Dec 2021Within 90 days of fiscal year endxxxxPDF
Credit Unions Market Conduct Annual Report FIA s127(3)(b)December 2022Within 30 days of calendar year endxxxxPDF
Central Credit Unions Market Conduct Annual Report FIA s127(3)(b)December 2023Within 30 days of calendar year endPDF

Other statutory

The following filings are required to be filed by credit unions as needed.

Filing RequirementsFIA / CUIA SectionDue DateAll Credit UnionsPreferred Format
Notice of Special General Meeting and Special ResolutionCUIA s78Minimum 18 days prior to the meetingxPDF
Investment and Lending Policy Amendment
-Amended Investment and Lending Policy
-Directors’ Resolution Approving the Amended Investment and Lending Policy
FIA s127(2)(c)Within 5 days from approval of amendmentxPDF
Personal Information Return (PIR) for Directors, Senior Officers, Subscribers, and Shareholders1FIA s13(2)(e) s22(2)(c) and s105Before commencing dutiesxFillable PDF
-Most recent resume for PIRN/ABefore commencing dutiesxPDF
-Criminal Record Check for PIRN/AWhen it becomes availablexPDF
-Bankruptcy and Insolvency Check for PIRN/AWhen it becomes availablexPDF
Statement of Financial ConditionsFIA s127(2)(a)Within 5 days of filing a statementxPDF
Written Notice of the Resignation, Removal, Election or Appointment of a Director or Senior OfficerFIA s99(4)Immediately after the effective datexPDF
Written Statement from Director Outlining the Reasons for ResignationFIA s109(1)Immediately after receiving the statementxPDF
Written Notice of the Appointment, Removal or Resignation of an AuditorFIA s117(1)Promptly afterxPDF
Written Statement Outlining the Reasons for the Auditor’s ResignationFIA s119(2)Promptly afterxPDF
Amended Financial StatementsFIA s121(a)Promptly afterxPDF
Form 19: Special ResolutionCUIA s80(1)As neededxPDF
Certificate on Subordinated NoteFIA s87(1)Immediately prior to issuing the subordinated notexPDF
Code of Market ConductFIA s94.2June 30, 2022xPDF
Amended Code of Market ConductFIA s94.2Promptly afterxPDF
1 For filing, please follow instructions on the PIR form.
CRR Capital Requirements Regulation
CUIA Credit Union Incorporation Act
FIA Financial Institutions Act

Penalties for Non-Compliant Filing

Please note that some of the above filing submissions are subject to Non-Compliant Filings Administrative Penalty Guideline under the Financial Institutions Act.

Questions

If you have questions, please contact BCFSA at [email protected].

Reporting Templates and Instructions

Revised Liquidity Adequacy Return (“LAR”) — Effective October 2021
LAR Regulatory StatementLAR Summary of Changes
LAR Reporting InstructionsLAR Validation Rules
LAR TemplateLAR Mapping between Current and Revised Templates
Revised Liquidity Coverage Ratio (“LCR”) — Effective October 2021
LCR Regulatory StatementLCR Summary of Changes
LCR Reporting InstructionsLCR Validation Rules
LCR TemplateLCR Mapping between Current and Revised Templates
Revised Net Cumulative Cash Flow (“NCCF”) — Effective October 2021
NCCF Regulatory StatementNCCF Summary of Changes
NCCF Reporting InstructionsNCCF Validation Rules
NCCF TemplateNCCF Mapping between Current and Revised Templates
Revised Financial and Statistical Return (“FSR”) — Effective April 2022
FSR Regulatory StatementFSR Summary of Changes
FSR Reporting InstructionsFSR Validation Rules
FSR TemplateFSR Mapping between Current and Revised Templates
Revised Capital Adequacy Return (“CAR”) — Effective April 2022
CAR Regulatory StatementCAR Summary of Changes
CAR Reporting InstructionsCAR Validation Rules
CAR TemplateCAR Mapping between Current and Revised Templates
Revised Residential Mortgage Loans Report (“RMLR”) — Effective April 2022
RMLR Regulatory StatementRMLR Summary of Changes
RMLR Reporting InstructionsRMLR Validation Rules
RMLR TemplateRMLR Mapping between Current and Revised Templates
Annual Supplemental Information Form — Effective September 2022
Annual Supplemental Information Form Regulatory Statement
BCFSA Internal Capital Adequacy Assessment Process (“ICAAP”)
BCFSA ICAAP GuideBCFSA ICAAP Submission Instructions
BCFSA ICAAP Key Metrics Report


Credit Union Performance (“CUP”) Report: Calculation Reference

This document provides the calculations for each CUP Report line with reference to the underlying reporting template lines.

CUP Report Calculation Reference