Late fees

A late fee applies if the firm does not pay its other fees to the OSC on time or does not submit documents on time.

For example, we may charge a late fee if a firm submits a notice of change to registration information after the timeline listed in Appendix A Summary of Notice Requirements in National Instrument 33-109 Registration Information to Companion Policy 33-109CP Registration Information. The fee is $100 for each business day the notice is late, up to $5,000 for all late notices in a financial year.

If a firm has not submitted documents on time, the late fee must be paid at the same time the late documents are submitted to the OSC.

Additional Fees for late document filings under Ontario’s Securities Act

Row Document (Column A) Late Fee (Column B)
A. Fee for late filing or delivery of any of the following forms documents:
(a) Annual financial statements and interim financial information;
(b) Annual information form filed under NI 51-102 or National Instrument 81-106 Investment Fund Continuous Disclosure;
(c) Notice under section 11.9 [Registrant acquiring a registered firm’s securities or assets] of NI 31-103;
(d) Form 33-109F1;
(e) Form 33-109F5, if the Commission is the principal regulator for the registrant firm or the individual and the filing is made for the purpose of amending:
(i) one or more of items 10, 12, 13, 14, 15, 16, or 17 of Form 33-109F4, or
(ii) one or more of items 1, 2, 3, 4, 5.3, 5.4, 5.5, 5.8, 5.9, 5.10, 5.11, 5.12, 6, 7, or 8 of Form 33- 109F6 if the information being amended relates to the registrant firm and not a specified affiliate (as defined in Form 33-109F6) of the registrant firm;
(f) Any form or document required to be filed or delivered by a registrant firm or individual in connection with the registration of the registrant firm or individual under the Act with respect to:
(i) terms and conditions imposed on a registrant firm or individual, or
(ii) an order of the Commission;
(g) Form 13-502F1;
(h) Form 13-502F2;
(i) Form 13-502F3A;
(j) Form 13-502F4;
(k) Form 13-502F5;
(l) Form 13-502F6;
(m) Form 13-502F7;
(n) Form 13-502F8.		 For each form or document required to be filed or delivered, $100 for every specified day following the date the form or document was required to be filed or delivered until the date the form or document is filed or delivered, subject to a maximum aggregate late fee of, (a) if the person or company is subject to a participation fee under Part 3 of the Rule and the estimated specified Ontario revenues for the previous financial year are greater than or equal to $500 million, $10,000 for all forms or documents required to be filed or delivered by the person or company in the calendar year, or (b) in all other cases, $5,000 for all forms or documents required to be filed or delivered by the person or company in the calendar year.
B. Fee for late filing or delivery of Form 33-109F5 if the Commission is the principal regulator for the registrant firm and the filing is made for the purpose of amending Form 33-109F6 for information of a specified affiliate (as defined in Form 33-109F6) of the registrant firm. $100
C. Fee for late filing Forms 45-106F1 $100 for every business day following the date the form was required to be filed by a person or company until the date the form is filed, to a maximum of $5,000 for all forms required to be filed by the person or company in the calendar year.
D. Fee for late filing of Form 55-102F2 – Insider Report

$50 per calendar day per insider per issuer (subject to a maximum of $1,000 per issuer within any one year beginning on April 1st and ending on March 31st.).

The late fee does not apply to an insider if (a) the head office of the issuer is located outside Ontario, and (b) the insider is required to pay a late fee for the filing in a jurisdiction in Canada other than Ontario.

Additional Fees for late document filings under Ontario’s Commodity Futures Act

Row Document (Column A) Late Fee (Column B)
A. Fee for late filing or delivery of any of the following forms or documents:
(a) Annual financial statements and interim financial information; 
(b) Report under section 15 of the Regulation to the CFA; 
(c) Report under section 17 of the Regulation to the CFA; 
(d) Form 33-506F1; 
(e) Form 33-506F5, if the Commission is the principal regulator for the registrant firm or the individual and the filing is made for the purpose of amending: 
(i) one or more of items 10, 12, 13, 14, 15, 16, or 17 of Form 33-506F4, or 
(ii) one or more of items 1, 2, 3, 4, 5.3, 5.4, 5.5, 5.8, 5.9, 5.10, 5.11, 5.12, 6, 7, or 8 of Form 33-506F6 if the information being amended relates to the registrant firm and not a specified affiliate (as defined in Form 33-506F6) of the registrant firm;
(f) Any form or document required to be filed or delivered by a registrant firm or individual in connection with the registration of the registrant firm or individual under the CFA with respect to,
(i) terms and conditions imposed on a registrant firm or individual, or
(ii) an order of the Commission;
(g) Form 13-503F1;
(h) Form 13-503F2.
 		 For each form or document required to be filed or delivered, $100 for every specified day following the date the form or document was required to be filed or delivered until the date the form or document is filed or delivered, subject to a maximum aggregate late fee of, (a) if the person or company is subject to a participation fee under Part 2 of the rule and the estimated specified Ontario revenues for the previous financial year are greater than or equal to $500 million, $10,000 for all forms or documents required to be filed or delivered by the person or company in the calendar year, or (b) in all other cases, $5,000 for all forms or documents required to be filed or delivered by the person or company in the calendar year.
B.  Fee for late filing or delivery of Form 33-506F5 if the Commission is the principal regulator for the registrant firm and the filing is made for the purpose of amending Form 33-506F6 for information of a specified affiliate (as defined in Form 33-506F6) of the registrant firm. $100