NCR Sets a Date For 2020 Statuary Returns

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Registrants Given A New Submission Date By The NCR

Earlier this year the NCR extended the date for registrants to submit statistical reports till the lockdown ended. Now they have reviewed that decision and rather ask for reports by August 2020.

 

In May 2020 the National Credit Regulator (NCR), like so many people,  were all heading home to wait out the lockdown and were unfortunately unlike many others not going to be able to work from home. With that in mind, they decided to help registrants not get into trouble for missing the required dates for submitting required statistics by extending the deadlines to after the lockdown*.

‘many people thought the process would be over swiftly and that things would soon be back to normal’

Now, these were the early days of lockdown when many people thought the process would be over swiftly and that things would soon be back to normal. Few people realised that Covid-19 was going to be around for years and were thinking everyone one was heading off for a 2 week holiday with the family and things would get back to normal in no time.

The reality, of course, has been very different. Level 5 was extended and then the drop to level 3 took many weeks. A the time of this article Level 3 is still in effect and seems to be here to stay for some time with level 1 looking like a pipe dream for 2021 maybe.

A New Submission Date

With this new reality in place, the NCR has had to go back and look at their announcement that registrants like Debt Counsellors, credit providers, credit bureaus, speciality insurance providers, PDAs and Alternative Dispute Resolution Agents only submit data at some unknown future time.

Since many of the NCR staff are now back at work it is also possible to start processing the data if it is supplied. With this in mind, the NCR has now moved the date to the end of August 2020 (31st)**.

Registrants do not have to wait until then and can submit their forms & statistics for the 1st and 2nd quarter of 2020 sooner if they wish but by 31st August the following forms should be submitted:

1) Form 39: credit provider statistical return
2) Form 42: Debt Counsellor statistical return
3) Form 44: credit bureau (synoptic) report
4) Form 45: (synoptic) report by insurers

If any registrant needs assistance or more information they are encouraged to talk to Bongani Gwexe at the NCR (bgwexe@ncr.org.za)

 

*in circular 4 of 2020

**in circular 9 of 2020