Key dates and reminders
Deadlines
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By February 28, 2025 or April 30, 2025
Within 120 days of the member’s fiscal year-end, members must submit audited and Board approved end-of-year financial statements, with comparisons to the preceding year’s statements, to CDIC, according to section 15(1) of the CDIC Deposit Insurance Policy By-law. At that time, members must also supply CDIC with a current list of all their subsidiaries and affiliates and a current list of all their directors and officers, along with titles, addresses, email addresses and phone numbers. Submissions are to be provided by email to members@cdic.ca.
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Months of March and April 2025
Under the CDIC Act and CDIC Co-Owned and Trust Deposit Disclosure By-law, member institutions are required each year, during the month of March, to provide notifications to trustees and Professional Trustees. Notifications must meet CDIC requirements and should set out details including: the information trustees and Professional Trustees must provide or update; the manner of provision; and the consequences of failing to provide that information. Additionally, member institutions are required to notify Nominee Brokers each April to provide CDIC with updated attestations and contact information via the Nominee Broker Portal. Template notifications developed by CDIC with the input of the Canadian Bankers Association can be found on CDIC’s Legislation and By-laws page.
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By April 30, 2025
Members must provide the completed Differential Premiums Form to CDIC using the Regulatory Reporting System (RRS).
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By July 15, 2025
Member institutions must provide their completed Return of Insured Deposits (RID) submission and related premium payment for the premium year. Members may either pay the full premium amount for the premium year by July 15th, or pay in two equal installments, the first due by July 15th, and the second due by December 15th.
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By July 15, 2025
Pursuant to subsection 10(c) of the CDIC Deposit Insurance Information By-law, member institutions must provide CDIC with an up-to-date list of all the trade names they use for eligible deposit taking activities, along with their Return of Insured Deposits submission. For more information about this requirement, please consult the Deposit Insurance Information By-law: Information Bulletin.
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By July 15, 2025
Pursuant to section 11(3) of the CDIC Deposit Insurance Information By-law, member institutions must provide CDIC with an up-to-date list of eligible deposit products that are sold by the member, along with their Return of Insured Deposits submission.
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By December 15, 2025
Members must submit their second premium installment by December 15th, if applicable.
Important Reminders
DSR Compliance Pretesting services
CDIC will be providing pretesting services for deposit data extracts between January and April. An email with detailed information on dates and phases for pretesting was sent to all member institutions in December 2024. Testing slots are limited and will be scheduled on a first come basis. Please remember to schedule your pretest by reaching out to Judy Power at jpower@cdic.ca and Marie-Josée Pinel at mpinel@cdic.ca.
Changes to Trade Names
Pursuant to Subsection 10(d) of the CDIC Deposit Insurance Information By-law, member institutions must provide CDIC with notice of any new trade name to be used in the course of its deposit-taking activities relating to deposits eligible to be insured by the Corporation, within 15 days of usage. Notice is to be provided by email to members@cdic.ca.
Changes to Directors and Officers
Pursuant to section 18 of the CDIC Deposit Insurance Policy By-law, members must notify CDIC without delay of any material changes to the information provided in accordance with sections 15 of the By-law, including any changes to the members’ directors and officers. Notice of any such change must be provided by email to members@cdic.ca.
Notification in respect of Important Transactions
Pursuant to section 17 of the CDIC Deposit Insurance Policy By-law, member institutions must notify CDIC of important transactions, including any proposed change in control, proposed amalgamation or merger, and/or proposed transfers of all or substantially all liabilities. Notice is to be provided by email to members@cdic.ca.
Notice of Material Change (DSIBs)
Pursuant to section 6 of the Canada Deposit Insurance Corporation Resolution Planning By-law, a Domestic Systemically Important Bank (DSIB) must notify CDIC as soon as feasible after the occurrence of a change in a bank group’s legal structure, business, operations, critical functions, critical shared services or material legal entities, or in the laws and regulations applicable to the bank group, that would require one or more amendments to the bank’s resolution plan. Examples of a material change may include an acquisition of an entity that meets the thresholds for a material legal entity, or reorganization of shared services that impacts cross-border execution of the resolution strategy. Notice is to be provided by email to members@cdic.ca.
Nominee Broker Agreements and Arrangements
Pursuant to sections 8(3) and 8(4) of the CDIC Act and sections 13(1) and 13 (2) of the CDIC Co-owned and Trust Deposit Disclosure By-law, member institutions must notify CDIC electronically, no later than the 15th day after the day on which it enters into or ceases to be a party to an agreement or arrangement with a Nominee Broker. All notifications from member institutions must be submitted to CDIC via the Regulatory Reporting System (RRS).