Karsten Wenzlaff, Advisor
August 26th, 2025
Karsten Wenzlaff is a Crowdfunding and Fintech Expert from Germany. He is Secretary-General of Digit[...]
BoC RPAA Annual Reporting Reminder For PSPs
Apr 29, 2026 | NCFA Fintech Market Activity | Payments And Market Infrastructure, Risk Compliance And Regtech
Annual Reporting Deadline Enforcement For PSPs
On Apr 27, 2026, the Bank of Canada reminded PSPs under the Retail Payment Activities Act that annual reports were due by March 31, 2026. PSPs registered after March 30, 2026 are not required to submit an annual report for 2025.
PSPs that missed the deadline should submit their report as soon as possible or face potential enforcement action.
The reporting framework is detailed. PSPs must follow the Bank’s annual reporting policy, which requires annual reports by March 31 each year, and its retail payment metrics policy, which covers the value of end user funds held, EFT volume and value, end users served, and other PSPs served. This turns reporting into an operating discipline (to avoid a year end scramble).
The Bank’s reporting guide shows that PSPs must report across operational risk, incident management, end user funds safeguarding, significant changes, incidents, activity metrics, financial information, and record keeping.
The form also asks about cyber security controls, third party service providers, agents, mandataries, safeguarding accounts, shortfalls, and independent reviews.
See: Update on Retail Payments Supervision and PSP Registry
For operators, (1) data infrastructure must support audit ready reporting, (2) governance must match supervisory expectations, and (3) product design must account for regulatory visibility from day one.
For investors and partners, reporting compliance is a useful test of execution quality. Firms that can operate inside regulated environments with clean reporting, strong controls, and reliable evidence will have an advantage as oversight expands.
Information Session On Annual Reporting Requirements
The Bank’s information session walks PSPs through annual reporting requirements, including required data fields, operational risk disclosures, activity metrics, and submission through PSP Connect.
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