In preparation for the upcoming reporting obligations under the Extractive Sector Transparency Measures Act (ESTMA), Natural Resources Canada (NRCan) is now mandating that entities required to report under ESTMA submit the Contact Form to NRCan by email to enrol for an ESTMA identification number.
Under the new Guidance Document and Technical Reporting Specifications published by NRCan in March, an ESTMA identification number is required for all future correspondence with NRCan, including the submission of annual ESTMA reports. This requirement applies to each reporting entity, including parent entities and subsidiaries that qualify as reporting entities under ESTMA, even where the parent entity will be submitting a consolidated report on behalf of its subsidiary entities.
The first annual reports under ESTMA must be posted online and submitted to NRCan within 150 days after the financial year end (i.e, for entities with a December 31, 2016 year-end, the first report must be disclosed by May 30, 2017).
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
