Mortgage Brokerage Closing Fiscal Review

  • Please read the instructions below and complete all of the necessary forms in full (all forms posted below are in PDF format).
  • Incomplete forms will be returned to the brokerage and may be considered not to have been received.
  • Administrative penalties may be issued if the forms are not received by the required date.
  • If you or your accountant choose to prepare the forms below in any other format, ensure that there are no changes to the wording.

Closing fiscal review reports must be completed with information covering the period between the ending date of the last accounting report to the date of termination of the brokerage licence and filed with RECA within 30 days of the brokerage’s licence termination. You can find the forms and basic information for filing these reports below.

Need a little more guidance on how to file? Choose the guide applicable to you for step-by-step instructions:

Brokerages that received or held money in trust during the reported period:

If your brokerage has received or held money in trust during the period being reported on, you must complete, sign, and submit to RECA Closing Fiscal Review Forms 1, 2, and 3.

Form 1: Engagement Letter Between Accountant and Mortgage Brokerage (Client)
Form 2: Mortgage Brokerage’s Representations to RECA
Form 3: Mortgage Brokerage Accountant’s Report

Interest from Trust Accounts

Instruction to Financial Institutions to pay interest to the Alberta Real Estate Foundation, pursuant to section 69 of the Real Estate Act.

The form “Instructions to Financial Institutions from Licensees” can be found on the Alberta Real Estate Foundation website under Industry Information:

Brokerages that DID NOT receive or hold money in trust during the report period:

If your brokerage has not received or held money in trust during the period being reported on, you are required to file Form 4—Declaration of Absence of Trust Transactions.

Instructions for filing Form 4 online:

  • login to myRECA using your RECA ID number then go to “My Brokerage”
    • your brokerage’s details will appear on the next screen
  • select “Accounting Reports” from the left-hand menu
  • click the blue “Add New Accounting Report” button
  • select “Form 4—Declaration of Absence of Trust Transactions” from the list of forms available to be filed online
  • complete Form 4 online, answering all applicable questions
    • adding new trust accounts, as necessary, by clicking on “Add NEW Trust Account” near the middle of Form 4 and following the instructions onscreen
  • check the box beside the statement “I make this declaration conscientiously believing it to be true and knowing that it is of the same force and effect as if made under oath”
  • click “Submit Application”
  • at the top of the next screen, in red, it should say “Report Successfully Filed”
    • if the next screen does not say that, logout of myRECA and then log back in before retrying the above steps
    • if a second attempt at filing Form 4 online does not work, please contact RECA
  • once Form 4 has been successfully submitted, you may view your completed Form 4 at any time by going to ”Action” and clicking ”View”

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