Financial Community

Notice: The Government of Canada has announced that changes to the CDIC Act to modernize and enhance CDIC deposit protection will come into force on April 30, 2020 and April 30, 2021. PLEASE NOTE: Until then, current coverage rules apply.

Return of Insured Deposits (RID) Manual

Table of contents


General Information

The Return of Insured Deposits (“RID”) is housed in the Regulatory Reporting System (RRS)1, and includes the following 6 tabs:

  1. (1) Reconciliation Page
    To calculate the member institution’s total deposit liabilities.
  2. (2) Return of Insured Deposits Page
    To calculate the total volume of insured deposits AND premiums payable.
  3. (3) Stratification Page (Eligible Deposits by Insurance Category)
    To provide details on the deposits by category.
  4. (4) Provincial Tax Assessment Page
    To calculate the Provincial Sales Tax amounts due to Ontario and/or Quebec in respect of CDIC premiums.
  5. (5) Certification (2) Pages
    To enable member institutions to attest to compliance with by-laws and confirm the accuracy of the data supplied in the RID.
  6. (6) Attachments Page
    To attach your Deposit Product List (DPL) and list of trade-names.

Note that the RID must be submitted by July 152. Payment of one-half of the premium and one-half of applicable sales tax must be received on or before July 153 and the second half of the premium and applicable sales tax instalment must be received on or before December 15. CDIC encourages member institutions to make payment via electronic funds transfer.

Name of account: Canada Deposit Insurance Corporation
Bank: Royal Bank of Canada
Bank address: 90 Sparks Street, Ottawa  ON
Transit number: 00006
SWIFT BIC:ROYCCAT2
Account number:000031-5

Please apprise CDIC of the transfer via e-mail to CDICFinance@cdic.ca and members@cdic.ca. Such messages should include the expected date of transfer, and the amount(s) and name of the member institution to which the transfer appertains. If providing payment on behalf of a subsidiary or multiple subsidiary, please note all institution names to which the payment applies.

1 Member institutions must use their existing RRS credentials. If your institution has not previously registered to use RRS, please contact your organization’s LRA (Local Registration Authority) or email RRS-SDR@bank-banque-canada.ca.

2 Upon approval the RRS generates a confirmation of submission. CDIC will contact the member institution only if information in the form is missing or if the RID has not been filed on time.

3 CDIC may charge interest on the unpaid amount of any premium not received on or before the due date. Interest is levied at the rate prescribed pursuant to subsection 161(1) of the Income Tax Act plus two percent.


Filing data and Calculations

All dollar amounts reported must be in thousands except premiums payable and sales tax assessment amounts.


CDIC Contact Persons

Questions relating to the filing requirements may be directed to:

Liliana Chiroque
Compliance Officer, Insurance
613-947-0256
Email: lchiroque@cdic.ca with a copy to members@cdic.ca

Technical questions may be directed to:

Sang Hwa Lee
Compliance and By-law Analyst, Insurance
613-943-1976
Email: slee@cdic.ca with a copy to members@cdic.ca


TAB 1 – Reconciliation

The Reconciliation form is used to calculate “Total Deposit Liabilities” as at April 30. Federal members can import or enter manually the April 30 consolidated balance sheet (Schedule OSFI M4) data prepared for the Office of the Superintendent of Financial Institutions. Provincial members can enter the data manually from their April 30 balance sheet.

Print screen of the “Reconciliation” schedule available in the Return of Insured Deposits (RID) form.
(Available in PDF format, 136 KB)

For line 5 – Acceptances

Include: acceptances of the institution purchased and resold and acceptances of the institution that have not been purchased. Exclude acceptances of the institution that have been purchased and held by the institution.


For line 6 – Other Liabilities (excluding accrued interest)

  1. Liabilities of Subsidiaries, Other Than Deposits
    1. Call and Other Short Loans Payable, including:
      • call and other short loans payable secured by securities which, when made, were payable on call or within 90 days;
      • sight drafts with securities attached;
      • daylight overdrafts outstanding.
    2. Other, including:
      • bonds, debentures and other similar forms of debt instruments;
      • liabilities of subsidiaries not included elsewhere.
  2. Insurance-Related Liabilities, including:
    • actuarial liabilities related to insurance products of subsidiary companies.
    • actuarial liabilities related to annuity products of subsidiary companies.
    • deferred gains or losses on disposal of portfolio investments (also referred to as adjustment in respect of unamortized gains or losses on investments) if the net balance is a credit.
    • other insurance-related liabilities not reported elsewhere, including provisions for policyholder dividends and provisions for Experience Rating Refunds.
  3. Accrued Interest
    • Include: accrued interest on deposits, accrued interest on subordinated debt, accrued interest on other liabilities as appropriate.
    • Other instructions: Accrue interest to date on deposit liabilities on a monthly basis or accrue to the most recent quarter- end of the financial year, provided that the institution follows a consistent policy in this regard. The appropriate rate to be used when accruing interest on deposit instruments should be the effective rate if outstanding to maturity.
  4. Mortgages and Loans Payable, including associated liabilities resulting from failure to achieve derecognition of financial assets.
  5. Income Taxes
    1. Current, including estimated accrual to date of income taxes payable for the current year.
    2. Deferred, including future taxes if balance is credit.
  6. Obligations Related to Borrowed Securities, including any liabilities related to borrowed securities (securities sold short).
  7. Obligations Related to Assets Sold Under Repurchase Agreements, including liabilities incurred under sale and repurchase agreements; and all obligations related to assets sold under repurchase agreements with all counter parties.
  8. Deferred Income, including:
    • deferred fees, commission and other revenues;
    • deferred servicing fee
    • Income on mortgage-backed securities and other securitized assets;
    • unearned safety deposit box rentals and safekeeping charges;
    • other unearned income, except pre-computed interest on loans.
  9. Derivative Related Amounts, including amounts relating to derivative instruments, including unrealized losses (gains are to be offset against losses), deferred unrealized gains relating to reserves for credit and market risks and administration costs etc., and premiums received. Offsetting is only permissible in accordance with IFRS.
  10. Exclude “Due to Head Office and related Canadian regulated Financial Institutions”
  11. Other Include:
    • foreign note circulation outstanding;
    • dividends accrued and payable and estimated accrual-to-date of the dividend for the current quarter;
    • contributions of institution and staff payable to Unemployment Insurance Fund;
    • unamortized premiums on subordinated debt outstanding;
    • present value of the defined benefit obligation;
    • income taxes withheld from staff salaries, directors’ fees, dividends etc.;
    • estimated accrual-to-date of contributions, current and arrears, payable to the pension fund and other termination benefits for the current year;
    • interim net profit or loss of financial period if it has not yet been debited or credited to retained earnings;
    • gold and silver certificates;
    • lease liabilities;
    • allowance for ECL applicable to off-balance sheet items;
    • accrued expenses and salaries and accounts payable;
    • liability for assets sold with recourse;
    • financial instruments that relate to amounts reported as Tier 1 Capital in the BCAR but accounted for as liabilities. Include only preferred shares and amounts related to innovative tier 1 structures grandfathered under OSFI July 2003 and/or February 2004 Advisories.

Line 7 – Subordinated Debt

Include: debentures and subordinated notes.


Line 8 – Shareholders’ Equity

  1. Include Preferred Shares issued by the institution.
  2. Include Common Shares issued by the institution.
  3. Include Contributed Surplus: premium on issues of shares less any payments of premium on redemption; and capital contributions by shareholders without the issuance of shares.
  4. Retained Earnings. Include: interim profit (loss) not less frequently than at the end of each financial quarter.
  5. Include non-controlling interests arising from the consolidation of subsidiaries which are not 100% owned.
  6. Accumulated Other Comprehensive Income (Loss). Include:
    • Report Accumulated Other Comprehensive Income (Loss) as required.
    • For quarterly fiscal reporting, this amount ties to the total reported in Section IVSchedule 2 “Accumulated Other Comprehensive Income (Loss), Net of Income Taxes” in the P3 “Consolidated Statement of Income, Retained Earnings and AOCI“.

Accrued Interest on Index-linked Deposits

CDIC has approved a method of calculation to be used to determine the positive yield to be accrued on index-linked deposit products as at April 30th in each year for premium and reporting purposes.

To derive the amount of return component to be attributed as accrued to such a deposit with a retrospective rate calculation as at the April 30th reporting date for CDIC, a member institution is required to substitute April 30th in each year as the day for the return to be computed. The member should then calculate the yield on the principal balance of the deposit to that April 30th at the rate so determined and include it in reporting the total deposit (subject to the approved maximum limit). In reviewing these products, CDIC has determined that it does not matter whether a particular yield formula brings in numbers derived from the referenced index monthly, daily, semi-annually or otherwise. The calculation method, in effect, collapses the term to maturity of the deposit back to the reporting date.

In the case of a three-year term deposit with a minimum rate plus an index-linked rate, at the stated maturity date fixed by reference to the average month-end levels of a stock market index between the date of deposit and maturity, at April 30th in each year while the deposit is outstanding, the member institution would substitute April 30th for the maturity date, perform the averaging calculation using the month-end levels of the index over the period between the date of deposit and that April 30th, and report to CDIC the accrued yield to the April 30th reporting date using the resulting rate of return.

Where the contract promises the depositor a minimum return in any event, that minimum should be used to calculate the yield to April 30th in any year where, in applying the formula with April 30th substituted for the stated maturity date as just described, the result is less than the minimum. Conversely, if the result of the formula with the April 30th substituted produces a yield in excess of the limit in the contract, the maximum would be used to compute the interim yield to April 30th.

CDIC will not retroactively adjust the annual premium payable by a member institution based on its April 30th calculation in any year as the result of subsequent differences between a yield calculated for reporting purposes using this approved method and the actual yield subsequently established as payable to a depositor. That is to say, if a return to April 30th as fixed in retrospect on a day subsequent to April 30th in accordance with the deposit contract proves to be higher or lower than the yield calculated using this approved method, CDIC will neither rebate the premium paid using the higher reported yield nor request the member to pay a supplementary premium using a higher actual return.


TAB 2 – Return of Insured Deposits

This form calculates the premium payable to CDIC based on the total of CDIC insured deposits.

Print screen of the “Return of Insured Deposits” schedule available in the Return of Insured Deposits (RID) form.
(Available in PDF format, 120 KB)


Line 1 – Represents the amount carried forward from the Reconciliation form and includes eligible deposits as well as deposits that do not qualify for deposit insurance.

Eligible deposits include but are not limited to:

  • demand, notice, time and term deposits;
  • guaranteed investment certificates (GICs);
  • deposits in the form of debentures (other than a debenture issued by a bank)
  • money orders for which the institution is primarily liable;
  • drafts, official cheques and certified cheques;
  • prepaid letters of credit;
  • traveler’s cheques for which the institution is primarily liable;
  • credit balances of deposit instruments in transit;
  • mortgage tax accounts;
  • deposits held in tax-free savings accounts and other registered plans;
  • annuity contract deposits;
  • interest accrued and/or payable on deposits;
  • cash balances in individual capital accounts, revenue accounts, and other accounts of each estate, trust, management, safe custody, agency and similar other accounts if held as a deposit; and
  • RRSP and RRIF un-invested cash balances if held as deposits.

Line 2 – Insert deposit liabilities that are not eligible for insurance under the CDIC Act. These include but are not limited to:

  • deposits payable in a foreign currency;
  • deposits payable outside Canada;
  • deposits payable to the Government of Canada;
  • deposits with a term of more than five years except five year deposits that mature on a non-business day and have been extended for that reason to the next business day, and;
  • deposits payable to bearer.

Line 3 – This line represents the sub-total of deposits that qualify for deposit insurance.


Line 4 – Insert the aggregate amounts in excess of the approved maximum limit per depositor.

The maximum basic protection for eligible deposits is $100,000 (principal and interest combined) per depositor.

CDIC provides separate protection up to the approved maximum limit for each of the following: deposits in one name, joint deposits, deposits held in trust, deposits held in registered retirement savings plans (RRSPs), registered retirement income funds (RRIFs), deposits held in a tax-free savings account (TFSAs) and deposits held for paying taxes on mortgaged properties (monies received or held on behalf of a mortgagor in respect of realty taxes on mortgaged property).

The following explains in more detail the rules for determining amounts in excess of the approved maximum limit per depositor:

  1. Deposits held in one name

    The maximum basic protection applies. All deposits held in the same depositor’s name are aggregated.

  2. Joint Deposits

    Joint deposits are treated as separate from individual deposits of the joint depositors and from any joint deposits a joint depositor may have with different depositors, provided that the records of the member institution:

    1. state that the deposits are held jointly; and
    2. identify the name and address of each joint owner.

    The maximum protection applies collectively to the number of joint owners. All joint deposits of the same joint depositors are aggregated.

  3. Trust Deposits
    1. Trust deposits are covered separately up to the maximum limit from any deposits owned individually by the trustee or by the beneficiary(ies), provided the trustee has disclosed for inclusion in the records of the member institution:
      1. a statement that the deposit is held in trust;
      2. the name and address of the trustee(s); and
      3. the name and address of the beneficiary(ies).
    2. So that the interest of each beneficiary is treated as if it were a separate deposit for the purpose of deposit insurance, where there are two or more beneficiaries of a trust deposit, the records of the member institution must disclose the information in a), b) and c) above, together with the interest of each beneficiary in the deposit. Each member institution must consider its funding model and deposit liability structure / records to estimate the volume of insured multi-beneficiary trust deposits.

    Any amount of principal and interest for a beneficiary in excess of the approved maximum limit is not insured.

  4. Registered Retirement Savings Plans (RRSP)
    1. Eligible deposits, including uninvested cash balances held in RRSPs are treated separately from any non-RRSP deposit accounts held for the same individual. Eligible RRSP deposits held by the same individual are aggregated.
    2. Where a member institution acts as trustee or administrator for self-directed RRSP deposits that are held at a different member institution, those deposits are insured through that member institution.

    All eligible deposits having both the same trustee and the same beneficiary(ies) are aggregated.

  5. Registered Retirement Income Funds (RRIF)
    • Insurable deposits held in RRIF’s are subject to the same rules as outlined in Registered Retirement Savings Plans, D (1) and (2).
  6. Tax-Free Savings Accounts (TFSAs)
    • Eligible accounts or financial products held in TFSA. All TFSA eligible deposits held under the same depositor’s name are aggregated.
  7. Realty Taxes on Mortgaged Properties
    • An unpaid balance of monies received or held by an institution from or on behalf of a mortgagor in respect of realty taxes on mortgaged properties is a deposit and is separately insured from any other deposit of that depositor with the institution.

Line 5 – Represents the amount of insured deposits premiums are paid on.


Line 6 and 7

Under the CDIC Differential Premiums By-law each member institution is classified into one of four premium categories. Premium categories and the corresponding percentage of the maximum premium rate are set out as follows:

Premium CategoryPremium Basis PointsPremium Percentage
17.522.5
215.045.0
330.090.0
433.33100.00

CDIC will advise the member institution of its premium category and the premium basis points prior to July 15. On line 6 and 7, indicate the premium category and percentage assigned.


Line 8 – The form will automatically calculate the premium payable according to the following formula:

The greater of:

  1. $5,000 and
  2. A* X Total Insured Deposits (Line 5) X corresponding percentage (Line 7)

* where A is: one third of one per cent, or such smaller proportion of one per cent as may be fixed by the Governor in Council under subparagraph 23(1)(b)(ii) of the Act

If your institution is a provincially incorporated institution accepting deposits made and payable in Quebec, premiums are automatically calculated according to the following formula:

The greater of:

  1. $5,000 and
  2. A* X Total Insured Deposits made and payable outside of Quebec (Line 5 (C)) X corresponding percentage (Line 7)

* where A is: one third of one per cent, or such smaller proportion of one per cent as may be fixed by the Governor in Council under subparagraph 23(1)(b)(ii) of the Act


TAB 3 – Stratification (Eligible Deposits by Insurance Category)

  1. Basic Protection
    • The maximum basic protection for insured deposits is up to the approved maximum limit (principal and interest combined). All deposit accounts of the same person are aggregated.
  2. Joint Deposits
    • Joint deposits are treated as separate from individual deposits of the joint depositors and from any joint deposits a joint depositor may have with different depositors. All joint deposit accounts of the same joint depositors are aggregated (collectively, not per individual owner) up to the approved maximum limit (principal and interest combined).
  3. Trust Deposits
    1. A single beneficiary trust deposit is insured separately up to the approved maximum limit from any deposits owned individually by the trustee or by the beneficiary, providing the records of the member institution:
      1. state that the deposit is held in trust;
      2. identify the name and address of the trustee(s); and
      3. identify the name and address of the beneficiary(ies). All eligible deposit accounts having both the same trustee and the same beneficiary are aggregated.
    2. So that the interest of each beneficiary is treated as if it were a separate deposit for the purpose of deposit insurance, where there are two or more beneficiaries of a trust deposit, the records of the member institution must disclose the information in a), b) and c) above, together with the interest of each beneficiary in the deposit. Each member institution must consider its funding model and deposit liability structure / records to estimate the volume of insured multi-beneficiary trust deposits.
  4. RRSPs
    1. Eligible deposits, including uninvested cash balances held in RRSPs are treated separately from any non-RRSP deposit accounts held for the same individual. Eligible RRSP deposits held by the same individual are aggregated.
    2. Where a member institution acts as trustee or administrator for self-directed RRSP deposits that are held at a different member institution, those deposits are insured through that member institution.
  5. RRIFs
    • Eligible deposits held in RRIF’s are subject to the same rules as outlined in Registered Retirement Savings Plans, (1) and (2).
  6. TFSAs
    • Eligible deposits held in TFSAs.
  7. Realty Taxes on Mortgaged Properties
    • An unpaid balance of monies received or held by an institution from or on behalf of a mortgagor in respect of realty taxes on mortgaged properties is a deposit and is separately insured from any other deposit of that depositor with the institution.

TAB 4 – Provincial Sales Tax Assessment

Member institutions conducting business in the Provinces of Ontario and Quebec, or both, are required to remit to CDIC, provincial sales tax on the portion of its deposit insurance premiums relating to deposits made and payable in those provinces.

Member institutions should look where the money is held, and if it is held in branches (or places of business) located in Quebec and / or Ontario, PST becomes payable. The residency of depositors is irrelevant.

In the case of online banking (the same rationale applies to brokered deposits), if the head office location of the member is in one of those two provinces, PST applies. If a member is paying the minimum annual premium (i.e. $5,000, or a lesser amount prorated to the number of days the deposits are insured during the RID year), PST is payable.

TAB 5 – Certifications (2)

The Chief Financial Officer (or other authorized officer) is required to confirm that:

  • the member institution MEETS or DOES NOT MEET the requirements of the CDIC Data and System Requirements By-law (DSRB) as at April 30 of the filing year; OR the member institution has been a CDIC member for LESS THAN 18 MONTHS;
  • the information contained in the Return of Insured Deposits is materially correct;
  • the member institution is materially compliant with the CDIC Deposit Insurance Information By-law;
  • the attached list of trade-names is up-to-date;
  • the attached deposit list is up-to-date and sets out each type of deposit instrument eligible for deposit insurance for which the member has received or is holding money that has been included in this Return; and
  • the depositors described in section 6.1 of the CDIC Joint and Trust Account Disclosure By-law were notified in accordance with that section.

TAB 6 – Attachments

Please submit your List of Trade-names and Deposit Product List along with the RID Reporting Form.

*Note: If you are not attaching your List of Trade-names and Deposit Product List with your return, please ensure that it reaches CDIC’s head office on or before July 15 of the current year.

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