Guide - How to Complete the Application for Registration of an IB Specialist (FIN 566)
Budget 2017 Update proposes to eliminate the International Business Activity program effective September 12, 2017.
This guide is to help you complete sections of the form that require additional detailed instructions.
Only a corporation that is registered or has applied for registration under the IBA program may apply to register an individual as an IB specialist. There is no fee for registering an IB specialist.
A corporation that is not registered may submit its application for registration at the same time; however, the individual will not be registered as an IB specialist until the corporation is registered.
Section 2. Type of International Business
Indicate the international business in which the individual is employed. An International Digital Media Distribution Business will be defined by regulation at a later date.
See the different types of IB specialists that may be registered depending on the type of international business.
Section 3. Indicate the Number of IB Specialists Currently Registered by Type
There is a limit on the number of IB specialists that a corporation can register at any one time for Administrative Support Services or Back-Up Office Services Specialists and Executive Specialists.
A corporation and any affiliated corporations can register no more than four Administrative Support Services Specialists and Back-Up Office Services Specialists at any one time. A corporation and any affiliated corporations can register no more than two Executive Specialists at any one time.
Affiliated has the same meaning as in the Income Tax Act (Canada) (federal Act).
Section 4. Specialist/Executive Information
If an individual does not have a Social Insurance Number, please see Social Insurance Number documents under section 10 – Attachments.
Section 6. Prior Registration Information
Complete this section only if the individual was previously registered as an IB specialist and it is less than five years from the date he/she was first registered.
Section 8. Type of IB Specialist
Indicate the type of IB specialist:
- International Financial Business Specialist
- Administrative Support Services or Back-Up Office Services Specialist
- Executive Specialist
- Designated International Business Specialist (currently only an international film distribution business qualifies)
Section 9. Additional Information (if applicable)
Complete this section only if the application for registration is for an Administrative Support Services Specialist, a Back-Up Office Services Specialist, or an Executive Specialist.
Indicate the individual’s residency status at the end of the individual’s tax year preceding the date of application.
Please indicate whether the individual entered into the written employment contract on or after March 3, 2010.
Please indicate whether the individual or any person related to the individual deal at non-arm’s length with the registered corporation. If YES, please provide the name and nature of the relationship. Please attach a separate list if necessary.
Related has the same meaning as in the federal Act.
Section 10. Attachments
Job Description - the job description should list or describe the duties related to the international financial activities or transactions that relate to the type of international business carried on by the corporation.
Please note: there are minimum workload requirements for an individual wishing to register as an International Financial Business Specialist or a Designated International Business Specialist. For each of these international businesses, an individual must devote at least 70% of the individual’s working time to performing activities in which the individual is a specialist for the corporation’s business. The job description should clearly indicate the percentage of time that the individual is required to spend on activities in which the individual is a specialist for the corporation’s international business.
While there is no minimum workload requirement for Administrative Support Services Specialists or Back-Up Office Services Specialists, the job description should clearly indicate that the individual is required to work for the corporation in relation to the international financial business of the corporation. In addition, the job description should clearly indicate that the individual is a specialist in either administrative support services or back-up office services.
For Executive Specialists, there is no minimum workload requirement; however, the job description should clearly indicate that the individual is a member of the executive management of the corporation and is required to work for the corporation in relation to the international business of the corporation.
Written Employment Contract - A copy of the signed employment contract between the individual and the corporation must be provided. Where applicable, documents must also be provided to support that the individual is a specialist in the qualifying international financial activities or transactions listed in the job description at the time the contract was signed. Supporting documents may include the job application form, resume, evidence of professional membership in good standing, references, copies of degrees and diplomas and other relevant information.
Social Insurance Number Documents - please provide a photocopy of the individual’s Social Insurance Number (SIN) card. If the individual does not yet have a SIN, please provide a photocopy when available. For information on how an individual can apply for a SIN, please see Service Canada.
Other - provide any other documents that may help substantiate an individual’s eligibility.
Authorization or Cancellation of a Representative - the Authorization or Cancellation of a Representative (FIN 146) (PDF) can be completed by either a corporation or an individual being registered. This form allows the ministry to release confidential information to a person specified as your representative (such as a lawyer or an accountant). The authorization will stay in effect until it is cancelled. The corporation or the individual can have more than one authorized representative at any given time.
Section 11. Certification
Provide the required information in the appropriate spaces. The person who signs and dates the application must be an authorized signing authority of the corporation.
Send Us Your Application
Mail or courier your application to the Ministry of Finance, Income Taxation Branch:
- Mailing Address: PO Box 9444 Stn Prov Govt, Victoria BC V8W 9W8
- Courier Address: 1802 Douglas Street, Victoria BC V8T 4K6
Toll Free within Canada and USA: 1-800-663-7867
Outside of Canada/USA: 604-660-2421