What is the First Nations Fiscal Management Act (FMA)?
The First Nations Fiscal Management Act (FMA) is a law that provides First Nations with support and tools to strengthen your community and build your economy. First Nations can choose whether or not to participate in the FMA. All of our First Nations clients must be scheduled under The First Nations Fiscal Management Act (FMA).
How can my First Nation become part of the FMA?
Over 200 First Nations are scheduled to (or participating in) the FMA. To join them, you must first check online to see if your First Nation is participating in the FMA. Contact us if you have any questions.
Are there any effects or obligations if my Nation becomes scheduled to the FMA?
Generally, none. Adding your First Nation’s official name to the Schedule of the FMA does not mean you have to work with the FMB or any of the other institutions. This remains a choice. There is an effect if you have previously brought into force local revenues laws under The Indian Act. In this case, becoming scheduled to the FMA means these local revenues laws now fall under the FMA. Ongoing compliance under the FMA is then required.