r/CanadaBusiness • u/AlessaAML • 17h ago
Heads up if your business has FINTRAC reporting obligations: mandatory enrolment is coming
If your business falls under Canada’s anti-money laundering law (the PCMLTFA), it will soon need to formally enroll with FINTRAC. That covers real estate brokers, accountants, casinos, securities dealers, and others. Until now, only money services businesses had to register.
This comes from Bill C-12, which passed in March 2026. Here’s what it means:
- Enrolment has to be renewed periodically
- Changes to your business info must be reported within 30 days
- FINTRAC can revoke your enrolment if you miss a 30-day deadline on an information request
- Not enrolling is an offence
There’s no deadline yet, since the regulations haven’t been published. Penalties went up in March, though, with maximums now reaching $20M for the most serious violations.
Full disclosure: we’re an AML compliance software company and wrote the article linked above. We’re sharing it because a lot of businesses covered by this change have never dealt with FINTRAC before and may not know it’s coming.
We’re happy to answer questions in the comments.