The upcoming fee adjustment as part of the Service Fees Act (2024)

February 20, 2024

A fee adjustment pursuant to the Service Fees Act (SFA) will take effect on March 31, 2024. An adjustment will come into effect for the following:

  • Filing fees
  • Licence renewal fees
  • Licence application fees

Licensed Insolvency Trustees (LIT) may need to update their software prior to March 31, 2024, in order to have these fees implemented. LITs may wish to communicate with their vendors to coordinate the necessary steps required to upgrade their software in a timely manner.

The fees above will be adjusted annually by a predetermined amount based on the Consumer Price Index (CPI). The next fee adjustment by the Office of the Superintendent of Bankruptcy (OSB) will take place on March 31, 2025.

In June 2023, amendments to the SFA were enacted which enabled the OSB to advocate for an exemption from further SFA fee adjustments for the summary administration levy under the Bankruptcy and Insolvency Act.

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