PSP Registration Renewal and Ongoing Maintenance
There is no PSP registration renewal in Canada, because your registration never expires. It can, however, be revoked. We manage the filings and notices that keep your Bank of Canada registration alive.
Why PSP Registration Does Not Renew
The Bank of Canada is explicit that registration under the RPAA does not expire, so there is no renewal cycle to diarise. What does exist is a continuous set of obligations. Miss them and the Bank can revoke your registration entirely, which is a far worse outcome than a lapsed renewal.
What Actually Keeps You Registered
Your registration survives on filings, not renewals. An annual report is due by March 31 each year, material incidents must be notified within forty-eight hours, and significant changes require their own separate notices. Certain changes of control demand an entirely new application. We track every deadline and prepare every submission for you.
Annual Reporting
We prepare and file your annual report through PSP Connect before the March deadline.
Incident Notices
We assess materiality and file incident notifications within the forty-eight hour window.
Change Notices
We identify significant changes and notify the Bank of Canada as the RPAA requires.
Re-Registration
We manage new applications triggered by acquisitions of control or structural changes.
Ready to Simplify Your Compliance?
Registered PSPs We Support
We support payment processors, digital wallets, remittance operators, gateways, and foreign PSPs already registered with the Bank of Canada. Whether you are filing your first annual report or restructuring, we keep your registration secure.
We support banks with program design, oversight, & regulatory examination readiness.
We help credit unions meet obligations proportionate to their membership and scale.
We handle registration, renewals, reporting, & controls FINTRAC expects from you.
We cover Bank of Canada registration alongside your anti money laundering obligations.
We establish what your wallet activity triggers, then build only what applies.
We build compliance around what your product does, before volumes and questions arrive.
We register virtual currency dealers and build the reporting their activity demands.
We support financial institutions across registration, program build, and reporting duties.
Why Registered PSPs Choose Us
Deadlines Tracked
Annual reports, incident notices, and change notifications all carry hard deadlines, and we make sure none of them is missed.
Revocation Prevented
Registration can be revoked for non-compliance, so we keep your obligations met and your standing with the Bank intact.
Substantive Filings
The annual report is a detailed document, not a confirmation form, and we prepare it with the depth expected.
Serving PSPs Across Canada
We support registered payment service providers nationwide, from Toronto and Montreal to Vancouver and Calgary, and we also assist foreign PSPs in meeting their Canadian obligations wherever they happen to be based.
Let's Talk About Your Compliance Needs
Schedule a Free Consultation
Whether you’re starting a new MSB or need ongoing AML support, our team responds within one business day.
PSP Registration Renewal Questions
Clear answers to the questions registered payment service providers ask most about renewals, annual reporting, and keeping their Bank of Canada registration in good standing.
Do I need to renew my registration?
No. The Bank of Canada confirms registration does not expire. There is no renewal, though your registration can be revoked if obligations go unmet.
When is the annual report due?
By March 31 of the year following the reporting year, submitted through PSP Connect. Late or incomplete filings are violations of the RPAA.
Can my registration be revoked?
Yes. The Bank can revoke registration if you stop performing retail payment activities or commit a violation under the RPAA and its regulations.
Do I re-register after a change?
Certain changes require it. Acquisitions of control and prescribed structural changes mean submitting a new application and becoming re-registered before the change takes effect.
How quickly must incidents be reported?
Initial notice must be given without delay, and no later than forty-eight hours after you determine an incident is material to end users.