Service Standards 2014-2015

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Service standards for registered plans

Detailed performance results can be found in the Annual Report.

• Actuarial valuation reports
• Amendments to registered pension plans
• Applications to register pension plans
• Deferred income plans – response to written enquiries
• Deferred profit sharing plans – amendments and terminations
• Deferred profit sharing plans – reviewing applications
• Education savings plans (applications to register, amend, or terminate)
• Retirement income funds (applications to register, amend, or terminate)
• Retirement savings plans (applications to register, amend, or terminate)

Actuarial valuation reports

• What is this? This is a timeliness service standard for reviewing and responding to actuarial valuation reports. For an employer's contributions to a registered defined benefit pension plan to be tax-deductible, an actuary must state that the contributions are necessary to pay for the future pension benefits for employees and the contributions must be approved by the Canada Revenue Agency (CRA). This service standard was introduced in 2001-2002.

• Standard: Our goal is to review actuarial valuation reports within nine months and provide written approval of the recommended employer contributions.

• Target: The CRA aims to meet this standard 80% of the time.

• How you can request this service from the CRA:

  • Mail

• How you will receive this service from the CRA:

  • Mail

Amendments to registered pension plans

• What is this? This is a timeliness service standard for reviewing and responding to amendments to registered pension plans. This service is provided when plan sponsors change the terms of a registered pension plan. All revisions to the plan documents must be submitted to the CRA. The standard is nine months because it is a relatively large workload that takes up significant resources and because taxpayers indicate a preference for giving priority to applications for registration and enquiries over amendments. This service standard was introduced in 2001-2002.

• Standard: Our goal is to review pension plan amendments for compliance with the Income Tax Act within nine months.

• Target: The CRA aims to meet this standard 80% of the time.

• How you can request this service from the CRA:

  • Mail

• How you will receive this service from the CRA:

  • Mail

Applications to register pension plans

• What is this? This is a timeliness service standard for reviewing and responding to applications to register new pension plans. This service is provided to employers or unions that have chosen to set up a pension plan to provide pension benefits to employees upon retirement. 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 review it in detail to make sure the documents comply with the requirements of the Income Tax Act. This service standard was introduced in 1995-1996.

• Standard: Our goal is to complete a full review and provide a response on applications to register pension plans within 180 calendar days.

• Target: The CRA aims to meet this standard 85% of the time.

• How you can request this service from the CRA:

  • Mail

• How you will receive this service from the CRA:

  • Mail

Deferred income plans – response to written enquiries

• What is this? This is a timeliness service standard for responding to written enquiries pertaining to deferred income and savings plans. This service is provided to clients who have questions or concerns about registered pension plans, registered disability savings plans, registered education savings plans, registered retirement savings plans, registered retirement income funds, deferred profit sharing plans, supplementary unemployment benefit plans, tax-free savings accounts, or registered investments. We generally deal with all written enquiries on a first-come, first-served basis. This service standard was introduced in 1995-1996.

• Standard: Our goal is to respond to written enquiries within 60 calendar days.

• Target: The CRA aims to meet this standard 80% of the time.

• How you can request this service from the CRA:

  • Mail

• How you will receive this service from the CRA:

  • Mail

Deferred profit sharing plans – amendments and terminations

• What is this? This is a timeliness service standard for reviewing and responding to requests to amend or terminate deferred profit sharing plans. This service is provided when a plan sponsor submits documents to change the terms of or discontinue a registered deferred profit sharing plan. All revisions to the plan documents must be submitted to the CRA. This service standard was introduced in 2004-2005.

• Standard: Our goal is to review requests to amend and to terminate plans within 270 calendar days.

• Target: The CRA aims to meet this standard 80% of the time.

• How you can request this service from the CRA:

  • Mail

• How you will receive this service from the CRA:

  • Mail

Deferred profit sharing plans – reviewing applications

• What is this? This is a timeliness service standard for reviewing and responding to applications to register new deferred profit sharing plans. This service is provided to employers who have chosen to set up an arrangement to share profits from their business to provide pensions to all or a designated group of employees. We review the plans for compliance with the requirements of the Income Tax Act. This service standard was introduced in 2004-2005.

• Standard: Our goal is to review applications to register new deferred profit sharing plans within 180 calendar days.

• Target: The CRA aims to meet this standard 80% of the time.

• How you can request this service from the CRA:

  • Mail

• How you will receive this service from the CRA:

  • Mail

Education savings plans (applications to register, amend, or terminate)

• What is this? This is a timeliness service standard for reviewing and responding to submissions to approve new education savings specimen plans or to amend or terminate existing education savings specimen plans. A promoter of an education savings specimen plan can only market its education savings plan once the specimen plan is approved by the CRA or when the proposed amendments under an existing specimen plan are approved. This service standard was introduced in 2001-2002.

• Standard: Our goal is to respond to applications to approve, amend, and terminate education savings plans specimen plans within 60 calendar days.

• Target: The CRA aims to meet this standard 85% of the time.

• How you can request this service from the CRA:

  • Mail

• How you will receive this service from the CRA:

  • Mail

Retirement income funds (applications to register, amend, or terminate)

• What is this? This is a timeliness service standard for reviewing and responding to submissions to approve new specimen funds or to amend or terminate existing retirement income specimen funds. Submissions are sent in by carriers, including banking institutions, trust companies, and insurance companies, or by third-party representatives. A carrier can only market its retirement income fund once the specimen fund is approved by the CRA or when the proposed amendments under an existing specimen fund are approved. This service standard was introduced in 1995-1996.

• Standard: Our goal is to respond to applications to register, amend, or terminate retirement income funds within 60 calendar days.

• Target: The CRA aims to meet this standard 80% of the time.

• How you can request this service from the CRA:

  • Mail

• How you will receive this service from the CRA:

  • Mail

Retirement savings plans (applications to register, amend, or terminate)

• What is this? This is a timeliness service standard for reviewing and responding to submissions to approve new retirement savings specimen plans or to amend or terminate existing specimen plans. Submissions are sent in by issuers, including banking institutions, trust companies, and insurance companies, or by third-party representatives. An issuer can only market its retirement savings plan once the specimen plan is approved by the CRA or when the proposed amendments under an existing specimen plan are approved. This service standard was introduced in 1995-1996.

• Standard: Our goal is to respond to applications to register, amend, or terminate retirement savings plans (RSPs) within 60 calendar days.

• Target: The CRA aims to meet this standard 80% of the time

• How you can request this service from the CRA:

  • Mail

• How you will receive this service from the CRA:

  • Mail

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Date modified:

2016-03-03