Changes to travel licence renewals and financial reporting
Last updated: February 22, 2019
Wondering about the expiry date or cost of your licence? Thatâ€™s because we are shifting all the licence renewal dates to align with your financial reporting deadline.
Your next licence renewal deadline is still March 31, 2019. However, when you renew, your new licence will be issued for anywhere between 10 and 21 months. This is because everyone has a different fiscal year end and so itâ€™s going to take some time to get the renewal dates to line up with the financial reporting dates (after March 31, 2019).
The cost may also change â€“ if you are being issued a 21-month licence, you are paying more because your licence is valid for longer.
What do you need to know right now?
- We emailed you in mid-February to remind you of your renewal deadline. You can renew your licence in MyAccount.
- Your licence will now expire 3 months after your financial year end. For example, if your fiscal year end is December 30, 2019, you next licence renewal deadline will be March 30, 2020.
- This means that your licence may be for a time period of 10 to 21 months. Once youâ€™ve renewed, we will email you your licence and your expiry date will be printed directly on it.
- We know that you are used to renewing your licence by March 31 of each year. With this new process, after your 2019 renewal, you may not be renewing on March 31.
- Continue to watch for emails from us â€“ we will remind you of your deadlines.
- Many of you have financial submissions due by March 31, 2019. Submit those in MyAccount.
- Down the road, you will have to submit your financial report prior to renewing your licence. There wonâ€™t be any extensions.
- If you donâ€™t renew your licence, you are not allowed to operate your business.
See a sample of the financial reporting requirements (for reference only)
We know you have a lot to think about when it comes to running your business. We are working towards making the licensing and reporting process quicker and easier for you. We will talk you through each step of the process, be clear about the fees and explain how to submit your financials online. Please watch for those emails and read them carefully. Please let us know if you have new contact information and we must be notified if your fiscal year end date changes.
We anticipate that all the changes will be in place by the end of 2020. Thank you for your patience and trust during this transition period.
If you have questions, please contact our Licensing and Information Services team at 1.888.564.9963 or send us an email to email@example.com.