Printed . This content is updated regularly, please refer back to https://bcfsa.ca to ensure that you are relying on the most up-to-date resources.
Filing Requirements for Fraternal Benefit Societies Authorized in the Province of B.C.
Select the section you’d like to navigate to.
Accordion items
Pursuant to section 163 of the Financial Institutions Act, every fraternal benefit society incorporated by or under the laws of a jurisdiction other than B.C. (extraprovincial fraternal benefit society) that held a business authorization for this province at the end of its latest fiscal year is required to file year end information with this office.
Unless otherwise indicated, the filing requirements below are due within 60 days of the fraternal benefit society’s fiscal year end and must be submitted through BCFSA’s Integrated Regulatory Information System (“IRIS”) portal.
For fraternal benefit societies that write travel insurance (including accidental and sickness insurance), the established filing requirements are those listed below. The filing requirements for property and casualty insurance corporations are not applicable.
Further instructions can be found here:
| Filing Requirements | FIA Section | Format Required | OSFI | OSFI (Foreign Branch) |
| Life Core Financial Statement Return (LF1 for Q4) | 163(1) | Special Excel and ASCII Files | x | x |
| Life Supervisory Quarterly Return (LF2 for Q4) | 163(1) | Special Excel and ASCII Files | x | x |
| Life Supervisory Annual Return (LF3) | 163(1) | Special Excel and ASCII Files | x | x |
| Life Supplementary Quarterly Return (LF4 for Q4) | 163(1) | Excel File | x | x |
| Life Provincial Return (LFPROV for Q4) | 163(1) | Special Excel and ASCII Files | x | x |
| Auditor’s Report to the Superintendent on the Life Annual Return | 163(1) | x | x1 | |
| Life Insurance Capital Adequacy Test (LICAT) Quarterly Return and Annual Supplement (LCQ for Q4 and LCA) | 163(1) | Special Excel and ASCII Files | x | - |
| External Audit Opinion on the numerator and denominator of key regulatory ratios in LICAT Schedule 10.100 | 163(3) | x2,3 | - | |
| Senior Management Attestation on LICAT Cover Schedule (for Q4) | 163(3) | Special Excel File | x3 | - |
| Internal Audit Opinion on the effectiveness of the processes and internal controls in place for the LICAT6 | 163(3) | Special Excel File or PDF | x2,3 | - |
| Opinion of the Appointed Actuary from the Actuarial Report | 163(1) | x | x | |
| Annual Financial Statements (include Auditor’s Report) | 163(1)(a) | x | - | |
| Parent’s Annual Financial Statements (include Auditor’s Report, if any) | 163(1)(b) | x5 | x5 | |
| Internal Capital Target (ICT) – Total and Core | 163(3)(a) | ICT% only | x | x |
| Annual Foreign Corporation Financial Statements (include Auditor’s Report) | 163(1)(a) | - | x1 | |
| Annual Financial Statements Canadian Branch (include Auditor’s Report) | 163(3)(a) | - | x1 | |
| Insurance Annual Fee (Financial Institutions Fees Regulation Section 2(1) and item 11.1) | - | - | x | x |
| Life Insurance Margin Adequacy Test (LIMAT) Quarterly Return and Annual Supplement (LCQ for Q4 and LCA) | 163(1) | Special Excel and ASCII Files | - | x |
| External Audit Opinion on the numerator and denominator of key regulatory ratios in LIMAT Schedule 120.000 | 163(3) | - | x1,3 | |
| Senior Management Attestation on LIMAT Cover Schedule (for Q4) | 163(3) | Special Excel File | - | x3 |
| Internal Audit Opinion on the effectiveness of the processes and internal controls in place for the LIMAT6 | 163(3) | Special Excel File or PDF | - | x2,3 |
| Annual Statement of Market Conduct (ASMC)4 | 163(3)(b) | Excel File, AMF E-services for Complaints Reporting | x | x |
2 Requirement due within 90 days of the corporation’s fiscal year end
3 Required to be filed with BCFSA if it must be filed with the primary regulator
4 ASMC is required to be filed with the AMF by May 1st of each year
5 Requirement due within 180 days of the corporation’s fiscal year end
6 Requirement at a minimum once every three years
Penalties for Non-Compliant Filing
Please note that some of the above filing submissions are subject to Non-Compliant Filings Administrative Penalty under the Administrative Penalties Regulation of the Financial Institutions Act.
Questions
If you have questions, please contact BCFSA at filings@bcfsa.ca.