Fees

General

Do I have to pay fees to submit filings?

Yes. If a filing is subject to system or regulatory fees, you will not be able to submit the filing without paying those fees.  

What is an outstanding fee, and how do I pay it?

An outstanding fee is created by a securities regulatory authority or the operator in SEDAR+ when there is a fee owing on a filing that has already been submitted. This could happen, for example, if a filer’s payment did not process, if incorrect information was entered at the time of filing or if there was a system issue. Outstanding fees should be paid promptly. For more information, refer to Search filings with outstanding fees and Pay outstanding fees.

Will adding a recipient agency to an existing filing result in additional fees?

Additional fees may be payable when recipient agencies/ jurisdictions are added to an existing filing. For example, when new jurisdictions are added to a filing, filers will have to pay fees for those new jurisdictions.

I’m submitting a revised document because my previous submission was incorrect. Will I have to pay an additional fee?

To avoid paying an additional fee when correcting an error in a filed document you need to search for and use its existing Grouping ID. For more information about Grouping IDs, read What is a document Grouping ID and why is it used?

Do I have to pay filing fees for documents incorporated by reference?

A filing fee is charged, where applicable, at the time a document is first submitted into the system. If the same document is then later incorporated by reference into another filing, an additional fee is not charged as a result of the incorporation by reference.

The only time additional fees will be charged is if recipient agencies are added to the original filing which contains the document being incorporated by reference in a separate filing (e.g., prospectus).

I have created a prospectus filing under the wrong filing type. Can the fees from that filing be transferred to a new filing that will be made under the correct filing type?

No, the previously paid fees cannot be transferred. Notify the principal regulator of the prospectus filing – the principal regulator will contact the CSA Service Desk to request that fee exception codes are created for each applicable recipient agency. The CSA Service Desk will then provide you with the fee exception codes, including a system fee exception code, which can be entered when the new filing is created under the correct filing type.

What is an OSC unique identifier number and how do I obtain it?

If you are an issuer, underwriter or investment fund and you have accrued historical late document fees in respect of late Form 45-106F1 submissions in Ontario, you will have been assigned an OSC unique identifier number. This number was provided to the most recent filing contact person as part of the Onboarding process. Generally, adding the OSC unique identification number to the profile will take into account certain historical late document fees applied to late 45-106F1s submitted on the OSC’s electronic filing portal which may affect the annual fee cap. You can add this number under the company or investment fund identification heading using the ‘Maintain profile’ functionality. Failure to enter this number on the profile may result in duplicative late document fees in SEDAR+, if applicable.

If you have accrued late document fees relating to late 45-106F1 filings submitted on the OSC Portal, contact the CSA Service Desk listed on the SEDAR+ Contact Us page to obtain your OSC unique identifier number.

Will the filing be accepted by the securities regulatory authority(s) upon payment submission or only once the EFT payment is confirmed?

Yes, the filing will be accepted upon filing submission. If the payment is subsequently not cleared by your financial institution, an outstanding fee will be applied against the filing for re-payment.

Fee exceptions

What is a fee exception and how do I request a fee exception code?

The system will not allow you to submit a filing without paying the calculated fee. In some cases, however, it is appropriate to bypass fee payment, and in these instances the securities regulator or the CSA Service Desk will issue a fee exception code to use when making your filing so the system won’t charge you.

The information provided below explains how to request fee exception codes. Also refer to How do I enter a fee exception code? and If I am using a fee exception code, do I still need to complete the fee attributes section?

How do I enter a fee exception code?

Before submitting a filing, SEDAR+ provides a ‘Fee attributes’ page where you will enter the code. Note: this field will only display if fee exception code(s) have been created for the issuer. 

• Enter a fee exception code for each jurisdiction where the fee calculation issue applies. Select ‘Add code’ to add more exception codes to a filing. System fee exceptions will have their own code.   
• Click save and move to the Fee summary and payment page. You will see that the Amount is ‘$0.00’ in the fee breakdown against the jurisdictions that have a code entered for them. 

If I am using a fee exception code, do I still need to complete the fee attributes section?

Yes, all fee attribute information must still be filled in completely and accurately unless you have been provided specific direction, by one of the securities regulatory authorities, to do otherwise.

Pre-filings

In Ontario, what fees are required with a pre-filing related to an application or prospectus?

In Ontario pre-filing fees will be credited to the filing. For example, if you pre-file an application or prospectus, the full fee for the application or prospectus is due at the time of filing the pre-file. Once you file the application or prospectus, the fees paid with the pre-filing will be credited towards the application or prospectus filing.  Note that you must relate the pre-file to the application or prospectus filing using the search functionality in order to avoid duplication of filing fees. Please note that using the manual linking functionality will result in potentially duplicated fees.

How will previously paid fees for pre-filing for a prospectus be applied to an investment fund group prospectus filing?

In Ontario, previously paid pre-filing fees will be applied to or deducted from the prospectus filing fee when exactly the same funds and the same number of funds that have filed the pre-filing have filed the actual prospectus. In Alberta, you will be contacted during the pre-filing review period with instructions on how to request a fee exception code. This will ensure you are not overcharged when filing the prospectus.

Fee calculations

Do I have to manually calculate system and regulatory fees in SEDAR+?

No. When submitting filings subject to system or regulatory fees, SEDAR+ will automatically calculate the fees owing and present the fee breakdown on the ‘Fee summary and payment’ page. In some situations, you may be required to fill in additional fee attributes for the system to calculate regulatory fees appropriately. If you have a question about the details of a fee calculation or whether a fee should have been charged or not, please refer to each jurisdiction’s local fee rules or MI 13-102 for system fees, as applicable. Please contact the respective securities regulatory authority for any outstanding questions.

How do I see fees calculated on the filing before submission?

When you select ‘Submit’ on the ‘Review and submit’ page, filings with fees implication will present a fee summary and payment page showing a fee breakdown (per jurisdiction, document and fee type) prior to the submission. You can then select ‘Exit’, ‘Review the filing’ to amend as necessary or select ‘Save’ to save as a draft. Alternatively, after selecting ‘Exit’ you can select ‘Discard the filing’ to completely remove the filing and you will be required to re-create the filing if necessary.

Are all late fees calculated by SEDAR+?

No, certain late fees are not automatically calculated by the system, such as late fees for SEC issuers, SEC foreign issuers, and designated foreign issuers. The securities regulatory authority that received the filing will manually review these filings and create an outstanding fee against the submission, if applicable.

If SEDAR+ will be available 24/7, what timeframe will be used for fee calculation purposes?

For late fee calculation purposes, the date and time a filing is made on SEDAR+ is based on Eastern Time (ET). As such, if a filing is made anytime between 00:00 ET and 23:59 ET, it will be considered filed on that day. For information on the timeframe that will be used for filing review periods see “What timeframe will be used for filing review periods on SEDAR+?”.

As SEDAR+ will be available 24/7, what happens when a filing deadline falls on a weekend or statutory holiday?

The introduction of SEDAR+ won’t change filing deadlines. For example, although SEDAR+ is available 24/7, for the purpose of calculating filing deadlines, in general, a deadline that falls on a Saturday or Sunday, or on a statutory holiday in the jurisdiction where the filing is required, will be extended to the next business day in that jurisdiction. Please note that provinces and territories may have different statutory holidays.

Why is the calculated fee showing as $0.00?

This happens when the fee calculation results in the amount due being less than a previously paid amount. If a refund applies, the system will include instructions for the filer to contact the regulator regarding the fee difference.

Why is the calculated fee showing on the fee summary page incorrect?

Additional fees may be payable when recipient agencies/ jurisdictions are added to an existing filing. For example, when new jurisdictions are added to a filing, filers will have to pay fees for those new jurisdictions.

Viewing payments

Where do I find the fees and transactions submitted for a filing?

The ‘View basket’ page includes details of the associated fees and any transactions (i.e. payments and refunds) that have been created. For more information, click on the following link to View basket and basket transactions.

Where can I view the fee attribute information that was submitted with a filing?

The fee attribute information for a specific submission in a filing can be viewed by clicking on the desired submission number in the ‘submissions’ section of the filing.