Resource documents to help you prepare for changes to the LCTR form is now available
We wish to inform all reporting entities that FINTRAC is expecting to implement important changes to the Large Cash Transaction Report (LCTR) form in June 2023. The form will reflect the legislative amendments that came into force on June 1, 2021 and include added functionality that allows for a more streamlined experience when reporting large cash transactions.
We understand that your business processes and IT systems may need to be updated to accommodate the form changes. To help you prepare, we are providing the following documents on the Draft documents page of our website:
- LCTR mock form and validation rules
- Reporting large cash transactions to FINTRAC guidance
- LCTR JSON schemas (reports and transactions)
Please note, while these documents are in their final stages of development, they are still labelled as “draft documents” and, as such, may be subject to minor subsequent changes.
Furthermore, we expect to publish the following documents on FINTRAC’s website and will inform you by email when they become available:
- API endpoints (Swagger)
- Validation rules (excel format)
Once the form is implemented in June 2023, you must use it to submit transactions that occur after the implementation. We recommend that you review the draft documents to determine whether you will need to make updates to your systems before June 2023.
At FINTRAC, we are committed to working with businesses to increase their awareness, understanding and compliance with their obligations under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) and associated Regulations. For questions, please contact us by telephone at 1-866-346-8722 (select option 4) or by email at F2R@fintrac-canafe.gc.ca.
Categories: Administrative Anti-Money Laundering FINTRAC Updates Large Cash Transaction Repiort (LCTR)
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