Interim reporting guidance (virtual currency and foreign location fields)

Updated on July 27, 2020.
FINTRAC's web reporting system now allows suspicious transaction reporting using a foreign address. See "Foreign location information" below for more information.

The COVID-19 outbreak and resulting physical distancing measures outlined by Public Health officials have delayed updates to FINTRAC's web reporting system. FINTRAC has published this interim guidance to explain how reporting entities (REs) can meet their reporting obligations until FINTRAC's web reporting system updates are completed.

This interim reporting guidance applies to the following REs subject to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) and associated Regulations:

FINTRAC's web reporting system does not currently allow for the entry of certain information, such as VC transaction and VC disposition information in STRs and Large Cash Transaction Reports (LCTRs) (applicable to all RE sectors). This reporting guidance provides temporary measures to allow for the accurate submission of reports.

*Note: The information in this guidance is temporary and is only in place to assist with online reporting of STRs and LCTRs. The reporting fields will be adjusted once the COVID-19 situation normalizes and workplace activities can resume. Given that the COVID-19 situation is evolving, FINTRAC will continue to update the messaging on its website as required. To be notified of updates, you may wish to join our mailing list, subscribe to our RSS feed or follow FINTRAC on Twitter.

Foreign location information (applicable to FMSBs only)

FINTRAC's web reporting system now allows you to enter a foreign address in the transaction location fields in Part A of the STR. Therefore, please inactivate the duplicate location with FINTRAC's address that you created following previously issued guidance. To inactivate the duplicate location:

  1. Log into FINTRAC’s web reporting system and navigate to the Locations page;
  2. Click on "Inactivate location" in Existing reporting locations (see image below); and
    Image of Locations page from FINTRAC's Web Reporting system,
    indicating 'Inactivate location' button in lower right corner.
  3. Use the address you created upon registration for reporting purposes.

For guidance on submitting STRs to FINTRAC, see Reporting suspicious transactions to FINTRAC.

If you are unable to submit an electronic report, you must submit a paper form. Enter the foreign address of where the transaction took place in Part A following the convention on the paper form. Mail the form to the following address:

Financial Transactions and Reports Analysis Centre of Canada
Section A
234 Laurier Avenue West, 24th floor
Ottawa, ON K1P 1H7
CANADA

Reporting information related to virtual currencies

Submitting an STR:

Details about the transaction

Part B1 of the STR requires information about the transaction and details on how the transaction was initiated. Field 5 lists checkbox options for the funds involved in initiating the transaction. If the details of the transaction conducted by a person or an entity are not covered in the list, indicate "Other" in field 5. You will be able to provide a description of the "Other" type of transaction value in field 5A. If applicable, enter the following "Other" transaction value:

Details about the disposition

Part B2 of the STR requires information about the disposition of the transaction and specifically how it was completed. Field 12 lists checkbox options for the disposition of funds. If the details of the funds involved in the transaction are not covered in the list, indicate "Other" in field 12. You will be able to provide a description of the "Other" type of disposition value(s) in field 12A. If applicable, enter one of the following "Other" disposition values for the transaction:

Submitting an LCTR:

Details about the disposition

Part B2 of the LCTR requires information about the disposition of the transaction and specifically how it was completed. Field 8 lists checkbox options for the disposition of funds. If the details about what happened to the funds involved in the transaction are not covered in the list, indicate "Other" in field 8. You will be able to provide the description of the "Other" type of disposition values in field 8A. If applicable, enter one of the following "Other" disposition values for the transaction:

If you are unable to submit an electronic report, you must submit a paper form, enter the appropriate transaction or disposition value in the "Other" field of the relevant Part, and mail the form to:

Financial Transactions and Reports Analysis Centre of Canada
Section A
234 Laurier Avenue West, 24th floor
Ottawa, ON K1P 1H7
CANADA

Date Modified: