Notice #830 – CESP Interface Transaction Standards, Updates to Version 5.8

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Information bulletin

Number:  CESP/PCEE-2019/20-005-830

Date: September 1, 2019

Subject: CESP Interface Transaction Standards, Updates to Version 5.8

Purpose

This Information Bulletin details updates to the CESP Interface Transaction Standards, version 5.8 dated October 1, 2017.

CESP ITS Version 5.8 Updates

Section Action Description
4.4 Record Type “400”– Financial Transaction   Transaction Type 21 – CESG, CLB, SAGES and BCTESG Repayments Add Any and all repayment transactions that occur within the RESP must be reported, regardless of whether there is a positive amount in the dollar field, or if the amount is zero ($0).
4.4 Record Type “400”– Financial Transaction   Transaction Type 21 – CESG, CLB, SAGES and BCTESG Repayments Remove Where there is no grant/bond remaining at the time the contract is terminated, the termination must still be reported to the Program for compliance reasons, but with the grant/bond amount equal to zero ($0).
Various sections Update Updated the use of the terms record type, transaction type and transaction. Example
  • Record Types are 100, 200, 400 etc.
  • Transaction Types are 11-Contribution, 13-EAP, 19-Transfer In etc.
  • Transactions are 400-11, 400-13, 200-03 etc.
Various sections Remove Removed “RT” when a transaction type and record type were being used together and replaced with “transaction”.
4.4 Record Type “400” – Financial Transaction   Transaction Type 22 – Termination Adjustments Update Termination Adjustment transactions should be used only to report the amount of incentives to the CESP system that cannot be repaid due to investment losses when an RESP is terminated. The promoter repays the grant or bond that is available and sends a Termination Adjustment transaction to inform the Program of the shortfall. Promoters should apply the losses in the order specified below. In step 3, any remaining loss will be apportioned proportionally among the CESG, CLB and provincial incentives.  
  1. Earnings
  2. Contributions
  3. CESG, CLB and provincial incentives proportionally

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