The Office of the Commissioner of Financial Institutions of Puerto Rico has established the Financial Reporting System, or FIRE System, as the centralized electronic channel for regulatory reporting. The first phase begins October 1, 2026, covering reports for the period ending September 30, 2026, from banks, the Economic Development Bank, the Cooperative Bank, the Puerto Rico Housing Finance Authority and the Association of Employees of the Commonwealth of Puerto Rico. Other depository, non-depository and securities institutions will transition under schedules communicated by the regulator and must continue using existing filing mechanisms until then. From each institution’s applicable implementation date, reports assigned through the platform constitute formal requirements and must be filed exclusively through FIRE by the deadlines shown in the system. Filings made outside FIRE will be treated as not submitted. Institutions must report only their Puerto Rico operations unless otherwise directed, file separately for each active license, maintain supporting records and controls, and ensure submissions are complete and accurate. Late, missing or deficient filings may lead to administrative or legal action, and notifying the regulator of technical or operational difficulties does not extend a deadline without express authorization.
Source: 2026-09-28Office of the Commissioner of Financial Institutions of Puerto Rico
Office of the Commissioner of Financial Institutions of Puerto Rico mandates phased FIRE System reporting from October 1
The Office of the Commissioner of Financial Institutions of Puerto Rico has mandated phased regulatory reporting through its new FIRE System. The first institutions must begin using it October 1, 2026, while other regulated entities will transition under later schedules. Once onboarded, institutions must file assigned reports exclusively through FIRE, and submissions outside the platform will be treated as not filed.