The OSB will process perfected applications for annual trustee licence renewal received through the OSB’s Licence Administration Application (OLAA) within 5 business days.
Your application processing time starts once we have received your perfected application through the OSB’s Licence Administration Application (OLAA) and the prescribed payment has been received by the OSB.
By April 1, 2021, all departments and agencies were required by the Treasury Board to establish a remission policy for all fees subject to service standards to fulfill their obligations under Section 7 of the Service Fees Act. This requirement applies to fees payable for Trustee Licence Renewals as well as for Individual Licence Applications so that when the relevant service standard is not met, a portion of the fee will be remitted to the fee payer according to the ISED Remission Policy and the OSB’s Program Annex.
All Licensed Insolvency Trustees (LIT) must verify their profile information in OLAA before they are able to renew. LITs in charge will be unable to complete payment for an LIT in their firm until the LIT has logged into OLAA and confirmed their individual profile information.
For information concerning OLAA or service standards, contact: