Service Standards 2016-2017

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Detailed performance results can be found in the Annual Report.

• Actuarial valuation reports
• Applications to register pension plans
• Deferred income plans – response to written enquiries
• 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)

Service standards for registered plans

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 provide a decision on the recommended employer contributions to a registered pension plan, within 270 calendar days of receipt of the actuarial valuation report.

• 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 provide a decision within 180 calendar days of receipt of an application to register a pension plan.

• 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 a written enquiry 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 – 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 provide a decision within 180 calendar days of receipt of an application to register a deferred profit-sharing plan.

• 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 provide a decision within 60 calendar days to a request to approve, amend, or terminate a specimen for an education savings plan.

• 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 provide a decision within 60 calendar days to a request to approve, amend, or terminate a specimen for a retirement income fund.

• 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 provide a decision within 60 calendar days to a request to approve, amend, or terminate a specimen for a retirement savings plan.

• 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:

2016-11-22