Filing an Application for Approval of a Refund of Surplus to the Employer using the Regulatory Reporting System (RRS)

General

The purpose of this instruction guide is to assist administrators of defined benefit pension plans registered under the Pension Benefits Standards Act, 1985 (PBSA), in filing an application seeking the Superintendent’s consent for a refund of surplus to the employer under section 9.2 of the PBSA, using the Regulatory Reporting System (RRS).

This guide does not supersede the requirements of the PBSA, the Pension Benefits Standards Regulations, 1985, the Directives of The Superintendent Pursuant To The Pension Benefits Standards Act, 1985, or any related guidelines that OSFI has issued or may issue.

Filing Requirements

The administrator must file all required information and documentation supporting the refund of surplus approval request (outlined in the Instruction Guide: Refund of Surplus to the Employer), using RRS. Failure to do so will generate an error message and prevent a filer from submitting the approval request.

RRS Process – Approval Request Return for an Application for a Refund of Surplus to the Employer

Creating the Approval Request Return in RRS

To file a request for approval, the administrator must first create, in RRS, the Approval Request Return for an Application for a Refund of Surplus to the Employer.

1. In the Main Menu, hover over Manage Returns and select Create Return.

2. Under Return Name, enter the type and date of the request for a refund of surplus. For example: “Refund of Surplus – YYYY-MM-DD”.

3. Under Select Form Set, choose: PP8 – Application for A Refund of Surplus to The Employer.

4. Under Enter earliest effective date of change contained in the return, enter the date of the request for a refund of surplus.

5. Click Create – the return will appear in the Draft Returns section found in the main menu.

For more information on creating returns in RRS, please consult the Manage Corporate Returns User Guide and other RRS training materials. RRS training materials can also be found in RRS in the Documents folder under Training and Support.

Completing the Approval Request Return in RRS

Once in the Draft Returns tab, the administrator will be able to edit the content of the return by entering the information directly into the on-line web form. Select the name of the return that was just created. Select Edit. The information and documentation supporting the request for the Superintendent’s consent to a refund of surplus to the employer can now be entered.

• Line 1 – From the drop-down menu, select either “Refund of Surplus – on plan termination” or “Refund of Surplus – ongoing plan”.

• Line 2 – If Line 1 selection was “Refund of Surplus – on plan termination”, then enter the effective date of the plan’s termination using the following format YYYY-MM-DD.

• Line 3 – From the drop-down menu, select the type of request as either an “Entitlement to surplus” or a “Claim to surplus”.

Required Documents

Lines 4 and 5 require the administrator to upload documents. Do not use the characters “#” or “&” in the names of any uploaded documents.

• Line 4 – Upload all required documents comprising the application. If there is more than one other document, please upload them in a zip file.

• Line 5 – Upload any other applicable document(s) and/or comments relevant to the request for the Superintendent’s consent to a refund of surplus to the employer. If there is more than one other document, please upload them in a zip file.

As with other returns in the Draft Returns section, you can save this return in draft form until it is fully completed and ready to submit.

Submission of the Approval Request Return in RRS

Once a return is ready to submit, go to the Submit Return sub-menu in the Submission section (found in the main menu). Select the Submit link in the Action column for the appropriate return.

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