Annual Income Report (Section J)

The RMAR section J report includes all income including fees, commission & other income invoiced during the date range specified for the following categories:

  • Home Finance mediation
  • Non-investment insurance mediation
  • Life & pension mediation
  • Investment mediation

In addition the income for each category is reported for the following organisations based on their individual reporting requirements for each income category:

  • Financial Conduct Authority (FCA)
  • Financial Ombudsman Service (FOS)
  • Financial Services Compensation Scheme (FSCS)

In order for income to be reported in the relevant category the FCA Business class is used to defined which category a fee is reported in as shown in the table below:

Please refer to the section on New Client Fee Types for instructions on setting the FCA business class on a fee.

Some clients should be excluded from the FOS and FSCS reporting depending on their turnover and number of employees. For further information please refer to your compliance officer or the FCA website.

In order to exclude a client from FOS or FSCS reporting within section J, check the relevant field on the Clients > Overview screen:

  • Exclude from FOS Reporting
  • Exclude from FSCS Reporting

Payments to Introducers and Networks who are directly authorised will not be included on this report, as they will submit their own returns.

An extract function is available on the report to extract the underlying detail into an excel spreadsheet.