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Registered Plans Directorate Newsletter, no. 95-2R1
March 31, 2004

Registered Plans Directorate Services

This newsletter cancels and replaces Newsletter 95-2R, dated March 28, 2002.


What's new?

In section 4 of this newsletter, you will find information on the Registered Plans Directorate's :

  • new service standards for registering deferred profit sharing plans and approving deferred profit sharing plan amendments and terminations; and
  • goals for meeting these service standards.

1. Introduction

This newsletter provides a brief overview of our services for registered deferred income plans. It includes the service delivery standards we developed by monitoring our turnaround times and consulting with clients. The standards indicate our response times for given services. We continually strive to improve these response times.

The Registered Plans Directorate administers the Income Tax Act (the "Act"), Income Tax Regulations (the "Regulations"), and rules relating to the registration and monitoring of certain types of deferred income plans. Major changes to the legislation in 1992 increased the scope of this function. The Directorate has specialized staff to handle the increased diversity, complexity, and volume of our workload.

To fulfil our mandate, Registered Plans Directorate staff examine, register, and regulate the following types of plans :

  • registered pension plans (RPPs);
  • retirement savings plans (RSPs);
  • retirement income funds (RIFs);
  • education savings plans (ESPs);
  • deferred profit sharing plans (DPSPs);
  • supplementary unemployment benefit plans (SUBPs); and
  • registered investments (RIs).

In carrying out these activities, we are committed to :

  • providing clients with responsive and accessible service;
  • answering clients' enquiries simply and clearly;
  • interpreting income tax law consistently, fairly, and according to its intent;
  • monitoring the plans we administer for compliance with the Act and Regulations;
  • striving for efficiency and continuous improvement; and
  • fostering good relations with our clients.

2. Our clientele

The primary client group for our services is the retirement savings industry, which comprises plan administrators, benefit consultants, actuaries, financial institutions, and employers who sponsor or participate in pension or other tax-assisted savings plans for their employees.

Other clients include Canada Revenue Agency (CRA) tax services offices, and CRA Headquarters functions such as Income Tax Rulings and Individual Returns and Payments Processing. We also serve provincial governments, federal government departments such as the Department of Finance, and federal government pension regulators such as the Office of the Superintendent of Financial Institutions.

Twice a year, representatives of the Registered Plans Directorate participate in conferences held by the Canadian Association of Pension Supervisory Authorities.

3. Our services

We provide service in three major areas: information and advice, registration of new plans and amendments to existing ones, and approval of eligible contributions to registered plans.

Information and advice

We provide information to the public and other government departments through our :

  • telephone enquiries service;
  • publications such as guides, circulars, and newsletters;
  • written replies to enquiries about current and proposed legislation; and
  • annual consultation sessions with members of various registered plans industries (e.g., Pension Consultants, RRSP issuers/RRIF carriers, RESP promoters).

Our guides and circulars are available at tax services offices and on the CRA's Web site at www.cra.gc.ca. As a further service to clients, we publish Registered Plans Directorate newsletters in response to special needs or requests for clarification (a list of our newsletters is attached). We mail these directly to members of the pension industry. Copies are also available on the CRA's Web site, or by contacting the Registered Plans Directorate (see section 5, "How to contact us.").

Registration and amendments

We process applications for new RPPs, RSPs, RIFs, DPSPs, SUBPs, ESPs, and RIs. We also accept or deny requests for amendments to existing plans, including requests to terminate plans.

Approval of eligible contributions

We approve the eligibility and deductibility of contributions to defined benefit pension plans.

4. Our service delivery standards

Our service delivery standards for specific services are listed below. The turnaround times we have established are based on the period between the date we receive client enquiries or requests and the date we respond to them. You will find a table summarizing our services, standards, and goals at the end of this section.

When delivering any of our services, we cannot give out client information to third parties without the client's written permission as specified in the confidentiality provisions of the Act.

Telephone enquiries

We receive approximately 33,000 calls a year from our clients. Our industry surveys tell us that callers feel they receive a high level of courtesy and help and a good response to their needs. Our goal is to meet the following standards 100 % of the time.

Basic request: Answer during the first call
Simple request: Call back with answer within one working day
Complex request: Call back with answer within two working days
Very complex request: Call back with answer within two working days, or tell caller to submit the enquiry in writing if it goes beyond the scope of telephone advice

Written enquiries

We deal with all written enquiries that relate to any of our processing operations on a first-in-first-out basis. We also receive a large volume of correspondence on other issues of either a general or case-specific nature. Our current service delivery standard is to reply within 60 days and to meet this standard 80 % of the time. Please mail written enquiries to the address specified in section 5, "How to contact us."

Pension plan registration

The registration process occurs in two distinct stages: deemed registration and registration.

  • Deemed registration : When we first receive a plan for registration, we review it to make sure that the appropriate documents and forms have been filed. If the application is complete, we send the client a letter giving a plan number and explaining the filing requirements and restrictions that apply to the plan until actual registration has been granted. This process allows plans to operate while we conduct a more detailed review. Our standard for issuing a deemed registration letter is 60 days, with a goal of meeting this standard 85% of the time. The peak period for registration requests is the calendar year-end.
  • Registration : In the second stage of the registration process, we review the application in detail to ensure that the plan text complies with prescribed conditions and requirements of the Act. Our standard for registering a new plan that meets the requirements of the legislation is 180 days, with a goal of meeting this standard 85% of the time.

Registered pension plan termination

We have published two newsletters outlining policies that are designed to streamline the termination process. Please follow the recommendations we make in Newsletters 94-3, "Using Assumptions to Compute the Present Value of Benefits," and 94-4, "Wind-Up Valuation Report."

Although our previous standard for reviewing a request to terminate a plan was 180 days, the pension industry told us that reviewing amendments to registered pension plans should take precedence over plan termination. Therefore, our current service standard is to complete a request for termination within one year and to achieve this goal 85% of the time.

Registered pension plan amendments

A large part of the correspondence we receive deals with amendments to registered pension plans. Our standard for reviewing amendments to registered pension plans is nine months, with the goal of achieving this standard 80% of the time.

Eligible contributions

One of the responsibilities of our Actuarial Division is to analyse requests for eligibility and deductibility of contributions to defined benefit plans. We review the actuarial valuation report only after the plan has been registered or the amendment to the plan has been accepted. Our service standard for completing this review is nine months from the time we receive the actuarial valuation report or, if applicable, the registration of the plan documents or approval of the plan amendment. Our goal is to achieve this standard 80 % of the time.

Retirement savings plans

Issuers cannot market a retirement savings plan until the specimen plan has been approved. Therefore, we consider these plans to be a priority. Our standard is to review requests to approve a new retirement savings plan specimen, or to amend or terminate an existing specimen, in 60 days. Our goal is to achieve this standard 80 % of the time.

Retirement income funds

Retirement income funds are treated similarly to retirement savings plans. Our service delivery standard for approval, amendment, and termination of these specimen plans is 60 days, with a goal of meeting this standard 80 % of the time.

Education savings plans

Since promoters cannot market these plans until we have approved the specimen plan, we consider these plans to be a priority. Our service standard for approval, amendment, and termination of these specimen plans is 60 days, with a goal of meeting this standard 85 % of the time.

Deferred profit sharing plans

When we receive an application for registration, we review the plan in detail to ensure that the plan complies with prescribed conditions and requirements of the Act. Our standard for registering a new plan and determining that it meets the requirements of the legislation is 180 days, with a goal of meeting this standard 80 % of the time.

Deferred profit sharing plan amendments and terminations

Part of the correspondence we receive deals with amendments to and the termination of deferred profit sharing plans. Our standard for reviewing amendments to and terminations of deferred profit sharing plans is 9 months, with the goal of achieving this standard 80 % of the time.

Registered Plans Directorate Standards

The following table summarizes our services, service delivery standards, and goals in meeting these standards.

Service

Standard

Goal

Basic call

Immediate response

100%

Simple call

Within one working day

100%

Complex call

Within two working days

100%

Very complex call

Within two working days or may be asked to submit the enquiry in writing

100%

Written enquiry

60 days

80%

Deemed registration

60 days

85%

Registration of pension plan

180 days

85%

Termination of registered pension plan

1 year

85%

Registered pension plan amendments

9 months

80%

Approval of eligible contributions

9 months

80%

Retirement savings plan specimen

60 days

80%

Retirement income fund specimen

60 days

80%

Education savings plans

60 days

85%

Deferred profit sharing plan registration

180 days

80%

Deferred profit sharing plan amendment and termination

9 months

80%

Note: You can help us process your submission faster by making sure that it complies with the law, is clearly worded, and contains all the necessary accompanying documents.

5. How to contact us

By telephone

You can reach the Registered Plans Directorate at the following telephone numbers:

General enquiries - English (613) 954-0419
General enquiries - French (613) 954-0930
Pension adjustment (PA) enquiries - English
English, toll free
(613) 954-5102
1-800-267-3100
Pension adjustment (PA) enquiries - French
French, toll free
(613) 954-5104
1-800-267-5565

Our enquiry lines are open Monday to Friday from 8 a.m. to 5 p.m. eastern time. Clients who wish to contact the Directorate after 5 p.m. may leave a message on our voice mail system.

In writing
Please send written enquiries or submissions for registered plans to:

Registered Plans Directorate
Canada Revenue Agency
45 Sacré-Coeur Boulevard, 3rd floor
Gatineau QC K1A 0L5

Fax: (613) 952-0199

Mailed and faxed submissions receive the same priority.

6. Your opinion counts

We welcome your feedback on this newsletter. Please send your comments or suggestions to the attention of the Director General of the Registered Plans Directorate, at the above address.


La version française de cette publication s'intitule Services offerts par la Direction des régimes enregistrés. Si vous désirez en recevoir un exemplaire, veuillez nous appeler au (613) 954-0930 ou visiter notre site Web à www.arc.gc.ca.

List of Newsletters
Available from the Registered Plans Directorate
(Web site link)

Number

Name

03-3

Joint annual Information Return - New Participating Pension Supervisory Authority

01-3

Tailored Individual Pension Plans (TIPPs)

01-2

Joint Annual Information Return - New Participating Pension Supervisory Authorities

01-1

Organizational Changes

00-1

Foreign Service Newsletter Update (Revisions to 93-2)

99-1

Proportionality Condition for Pre-1990 Pension Benefits

98-2

Treating Excess Member Contributions Under a Registered Pension Plan

98-1

Simplified Pension Plans

96-3

Flexible Pension Plans

96-2

Waiving the Requirement to File a Registered Pension Plan Annual Information Return for an Inactive Plan

96-1

Changes to Retirement Savings Limits

-

Quebec Simplified Pension Plans

95-6

Specimen Pension Plans - Speeding up the Process

95-5

Conversion of a Defined Benefit Provision to a Money Purchase Provision

95-4

New Filing Requirements for the Registered Pension Plan Annual Information Return

95-3

Actuarial Report Content

95-2R1

Registered Plans Directorate Services

95-1

New Approach to Plan Registration

94-5

Exhibit 1, Plan Administrators' Past Service Pension Adjustment Guide

94-4

Wind-Up Valuation Report

94-3

Using Assumption to Compute the Present Value of Benefits

94-2

Technical Questions and Answers

94-1

Preferred Language for Pension Reform Updates

93-5

Surplus Allocation on Termination or Conversion of a Defined Benefit Provision

93-4

Exception to filing Amendments for the Income Tax Act and Regulations

93-3

Service in Canada

93-2

Foreign Service Newsletter

93-1

Special Release - Filing Deadline Reminder

92-12

Commutation and Opting Out of a Pension Plan

92-11

Maximum Pension Limits

92-10

Special Release - Extension of Filing Deadline for Amendments to Registered Pension Plans to Comply with the Legislation

92-9

Downsizing Programs

92-8R

Eligible Service

92-7

Pre-Reform Early Retirement Provisions and Post-Retirement Indexing

92-6

Pre-Reform Disability and Bridging Benefits

92-5

Pre-Reform Death Benefits

92-4

Special Release - Extension of Filing Deadline for 1991 T244, Registered Pension Plan Annual Information Return

92-3

Annual Information Return (T244 Rev. 92)

92-2

Definition of Spouse

92-1

Actuarial Valuation Reports (Cancelled-Replaced by 95-3)

91-5

Special Release (Revision to parts of 91-5)

91-5

Transitional Rules and Other Administrative Issues for Pension Plans

91-4R

Registration Rules for Money Purchase Provisions

91-3

Registered Pension Plan Forms

91-2

Annual Information Return (T244)

91-1

Transitional Registration Rules for Pension Plans

90-1

Bulletin - Bill C-52

89-1

Transitional Registration Rules for Pension Plans



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Date modified:
2004-03-31
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