Filing of Annual Information Return for Mortgage Administrators and Brokerages
FSRA is launching the 2021 Annual Information Return (AIR) for mortgage brokerages and administrators to help identify trends and potential risks in the sector and determine where to focus its supervision efforts.
All licensed mortgage brokerages and administrators must file, even if they did not do any business in 2021. Mortgage brokerages and administrators that do not file by March 31, 2022 may face summary administrative penalties, or other regulatory enforcement action.
The principal broker of a mortgage brokerage or the principal representative of a mortgage administrator must file the AIR and can complete the process using Licensing Link.
In order to make the process more efficient, mortgage administrators will be required to pay their 2022-2023 fee directly in the AIR portal. The last day to submit your AIR is March 31, 2022.
Deferred filing of next NQSMI quarterly report
Mortgage brokerages:
At the same time, FSRA is allowing brokerages to defer filing the next NQSMI quarterly report so they can focus on filing their AIR and licence renewals.
Brokerages will be required to report NQSMI data for January to March 2022 when they file the quarterly report for April to June 2022. That means that the next NQSMI report you file will cover the period between January 1 to June 30, 2022 (two quarters). It must be submitted to FSRA on or before July 15, 2022.
Learn more:
- For more information about the 2021 AIR please visit the FSRA website
- FAQs on Annual Information Returns and Financial Statements
- 2020 Mortgage Brokerages and Administrators Annual Information Return report
FSRA continues to work on behalf of all stakeholders, including consumers, to ensure financial safety, fairness, and choice for everyone.
Learn more at www.fsrao.ca.