Here's a breakdown of the two invoices and how they relate to the Pension Plan:

First Invoice (Onboarding Registration):

1. This invoice covers significant work required for the preparation and registration of the plan at CRA.
   
2. Services include documentation preparation, liaison with CRA, clients, advisors/accountants, legal representation if needed, and actuarial services for new plan qualification.
   
3. The filing deadline is essential to ensure eligibility for benefits in the first year of registration, as benefits can be utilized in subsequent years.
   

Administration Fee Structure:

1. The annual fee is not based on a traditional 12-month term but on services required for maintaining a Pension Plan in accordance with CRA requirements.
   

1. Registering a Pension Plan within the calendar year is crucial for optimizing benefits for that tax year (January to December).
   

1. If a Plan is registered at year-end, it may result in a double bill for the previous year's registration and the following year's administration requirements.
   

1. Services include ongoing actuarial work, annual filings, legislative overviews, monitoring government changes, and other oversight needed for the Pension Plan.
   
2. Billing for these services is sent out annually in December/January.