RECO now requires every Ontario real estate brokerage to submit an annual financial filing through its MyWeb portal, effective October 1, 2026. The filing covers financial statement data, trust assets and liabilities, unclaimed trust monies, and a compliance attestation from the broker of record. A second phase introducing monthly trust reconciliation reporting is planned for 2027. Together these mark RECO's shift to proactive, data-informed financial oversight under TRESA.
A new era of proactive financial oversight
On June 16, 2026, the Real Estate Council of Ontario (RECO) announced a significant change to how it oversees the financial health of real estate brokerages. Beginning October 1, 2026, every brokerage in the province will be required to attest to and submit an annual financial filing through RECO's MyWeb portal.
The shift is more than a new form. It signals RECO's move toward a proactive, data-informed regulatory model—one designed to surface financial red flags earlier and direct regulatory attention to where consumer funds are most at risk. RECO has positioned the change as a way to strengthen oversight under the Trust in Real Estate Services Act, 2002 (TRESA), and to reinforce confidence that deposits and commissions held in trust are properly managed.
For brokers of record, the practical question is straightforward: what does this add to your compliance workload, and how do you stay filing-ready without pulling your team away from running deals?
What the annual financial filing requires
Starting October 1, 2026, all brokerages must submit a standardized annual filing covering the brokerage's financial health and trust accounts. According to RECO, each filing must include:
- Information drawn from the brokerage's financial statements
- Information about trust assets and liabilities
- Information about unclaimed trust monies held by the brokerage
- Compliance attestations made by the broker of record
The attestation point matters. The broker of record is personally certifying the accuracy of what's filed, which raises the bar on having clean, reconciled records year-round rather than scrambling to assemble them at filing time. RECO has said it will use the data to inform its risk framework and focus its audit and inspection resources accordingly.
RECO has also committed to supporting brokerages through the transition, with detailed instructions, instructional videos, and resources being distributed directly to brokerages and published on its website in the weeks ahead.
The bigger change is coming in 2027
The annual filing is the first phase. RECO has signalled that monthly trust reconciliation reporting will be introduced in 2027, with further guidance to follow before that phase begins.
This is the part brokerages should plan for now. An annual filing is a once-a-year exercise; monthly trust reconciliation is a recurring operational discipline. It means reconciling trust accounts on a fixed cadence, documenting that work to a reporting standard, and being able to produce it on demand. Brokerages that already maintain rigorous monthly reconciliation will adapt easily. Those relying on periodic catch-up will feel the change most.
Together, the annual filing, the future monthly submissions, and RECO's existing audit framework mark a definitive move toward continuous financial accountability across the sector.
What this means for brokers of record
The requirements themselves aren't unreasonable—they reflect financial management practices a well-run brokerage should already have. The challenge is consistency and capacity. Trust accounting, reconciliation, and the documentation that supports an attestation all demand precision and time, and they don't pause when transaction volume spikes.
For many brokerages, the back office is already stretched. Adding a formal annual filing now, and a monthly reconciliation reporting obligation in 2027, increases both the workload and the personal exposure carried by the broker of record. The brokerages that handle this well will be the ones that treat trust accounting as an always-current function rather than a deadline-driven one.
How myAbode helps you stay filing-ready
This is exactly the kind of compliance and financial back-office work myAbode was built to carry. As a managed service supporting Ontario brokerages, myAbode operates as an extension of your brokerage—not another vendor—handling the deal processing, trust accounting, reconciliation, and audit-readiness work that sits behind requirements like these.
Drawing on nearly 20 years of experience supporting Ontario brokerages, myAbode helps brokers of record keep trust records reconciled and documentation organized so the information RECO requires is available when it's needed—not reconstructed under deadline pressure. With monthly trust reconciliation reporting on the horizon for 2027, having that discipline already embedded in your operations turns a looming obligation into a routine one.
The broker of record still owns the attestation. myAbode's role is to make sure the records behind it are accurate, current, and ready.
Get ahead of the deadline
October 1, 2026 will arrive quickly, and 2027's monthly reporting phase follows close behind. Brokerages that keep trust accounts reconciled year-round will adapt most easily—and a managed service like myAbode can carry that back-office work to keep them filing-ready. If you'd like to review how your brokerage's trust accounting and back-office processes line up with RECO's new requirements, reach out to the myAbode team to talk through what staying filing-ready looks like for your operation.
For the full announcement and official details, see RECO's annual financial filing web page.
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