How to Complete a Transparency Report in myLTSA
Requirements for a Transparency Report:
When a relevant corporation, trustee of a relevant trust or partner of a relevant partnership is registered on a land title as the owner of a property, a transparency report must be filed electronically by a legal professional.
A transparency report may be filed on its own, under certain circumstances, but is usually filed along with a transparency declaration when an ‘interest in land’ as defined in LOTA is registered by a reporting body.
There are four circumstances where a stand-alone transparency report must be filed:
- Existing reporting bodies with an interest in land will have until November 30, 2021 to file a transparency report under s. 15 of LOTA
- Each time the interest holder(s) in a reporting body change, the reporting body must file an updated transparency report under s.16 of LOTA
- A determination of incapacity has been made in respect to an interest holder or settlor under s. 16 of LOTA
A reporting body may file a new transparency report under section 17 at any time the reporting body considers it necessary in order to correct or complete information contained in a previously filed transparency report.
When filing under section 15 – 17 of LOTA, a transparency declaration is not required and should not be created. In the event that a transparency declaration is erroneously created, the associated transparency report will remain unfiled in the LOTR dashboard unless the proper procedure is followed.
Create a Transparency Report
To file a stand-alone transparency report click on the Create Transparency Report button.
First time filing view:
Subsequent filing view:
In most cases, a transparency report will be automatically created in LOTR when the transferee is indicated as a reporting body in the transparency declaration.
There are two ways to access a transparency report associated with a transparency declaration:
- From the LOTR dashboard in myLTSA, look for the linked transparency report under the LOTR ID# column heading and click on the hyperlink:
- From the transparency declaration, go to the Transferee section of the form and click on the Open Transparency Report button:
Property Information is the first section of the transparency report and it is where the legal professional enters a file reference and relevant data such as the title number or charge number.
The Reporting Body – Primary Identification section is where basic information about the reporting body is provided.
For a relevant corporation, information must be provided for:
- the name and address of the corporation;
- the jurisdiction of incorporation.
For a trustee of a relevant trust, it is necessary to indicate:
- whether the trustee is a corporation or an individual;
- if it is an individual, to provide their name, citizenship & residency status.
For partner of a relevant partnership, it is necessary to:
- specify whether the partner is a corporation or an individual;
- provide all pertinent information as described in the previous examples.
The Reporting Body – Additional Information section requires more detailed information about the relevant corporation, trustee of a relevant trust or partner of a relevant partnership. This is also where information about the settlor is entered when the reporting body is a trustee of a relevant trust.
In the Interest Holder section, information about each interest holder must be provided. The information required about each interest holder is set out in s. 19 of LOTA.
The Certifier section must contain the name of an individual who has actual knowledge of the matters and be authorized to certify on behalf of the transferee or reporting body. Certifiers must ‘wet-ink’ sign the execution copy. There must be at least one certifier for each transferee. Visit the Resources page for more information about the process for certification.
Once certified, the designate will e-sign the completed form using a Juricert Digital Certificate.
- A stand-alone transparency report does not need to be filed with a land title package and can be registered to LOTR using the Submit button from the Execution Copy / E-Sign page.
- For a filing with a transparency declaration and transparency report, the linked transparency report must be e-signed and filed together with the transparency declaration ID. Visit How to Submit a LOTR Filing in myLTSA to learn more.
Change a Transparency Report
A reporting body may, at any time the reporting body considers necessary in order to complete or correct information in a previously filed transparency report, file with the administrator a new transparency report under s. 17 of LOTA. A person other than a person who was a reporting body may, by application to the administrator, request that corrections or changes be made to a filed transparency report, reported information or publicly accessible information under s. 42 of LOTA.