Submission for Funding Support on Training Partners Gateway (TPGateway) for Training Providers
Kindly complete submissions for funding support for courses commencing on or after 10 October 2022 on the TPGateway.
| Before Course | During Course | After Course | ||
|---|---|---|---|---|
| Add Course Runs | Calculate Grants | Submit Enrolment | Trainers and Trainer to take digital attendance | Submit Assessment Results |
| Maintenance of course runs and sessions for each approved course | Eligible grant amount for learners calculated based on enrolment details submitted by TPs | Training Providers to check and ensure that trainees' digital attendance is successfully taken | Bulk upload of assessment for reduction in processing time | |
| Course Runs and Course Sessions | Enrolment | Attendance | Assessment | |
|---|---|---|---|---|
| Financial Training Providers | Before course start date[1] | Enrolment must be submitted before or within 45 calendar days after course run start date | All attendance must be taken digitally during the course session | Assessment results must be submitted within 45 calendar days after course run date |
All Financial Training Providers with IBF accredited courses must have a local Singapore bank account and subscribe to Corporate PayNow to receive disbursement.
[1] Course runs and course sessions must be created before course start date for the link to the QR code for attendance taking to be sent to the Course Administrator and Trainer.
You are not required to upload any supporting documents in the funding support submission.
You will be required to provide the supporting documents upon IBF’s request for audit purposes.
Verification of trainees’ employment for courses under the Critical Core skills and Future-Enabled skills categories | With effect from 3 October 2022: IBF-STS funding of training courses under the Critical Core skills and Future-Enabled skills categories will only be available to locals (Singapore Citizens or Singapore Permanent Residents) employed in the financial sector (i.e. by financial institutions or SFA certified FinTech firms) Training Providers must verify the trainees’ eligibility for funding by checking one of the following documents from the trainees’:
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Licensed Representatives and General Insurance Agents | All licensed representatives (e.g. financial advisors, insurance agents, remisiers) and general insurance agents registered with the General Insurance Association’s (GIA) Agent Registration Board who wish to register for FTS courses, must provide a Letter of Support from his/her Financial Institution (FI) Principal. Please refer to template of Letter of Support (LOS) as attached. Training providers should sight the staff pass of the licensed representative or registered agent, and check the MAS Register of Representatives / General Insurance Association (GIA) Agent Registration Board to confirm the trainee’s eligibility.
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Documents to be retained by FTPs for Audit Purpose | a) Exchange rate[2] records for expenses paid in foreign currency other than SGD b) Documents to verify personal particulars[3] of trainees c) Attendance (Only applicable to manual attendance submission) and assessment records[4] signed or acknowledged by the trainers and trainees d) Full video recordings[5] of synchronous online training sessions e) LOS - Letter of Support (Only applicable for licensed representative and registered agent) f) Registration forms and acknowledgement by trainees Mandatory details to be reflected in Registration Form: • Name of Trainee (as per NRIC) • Course Title and Course Code (as per course accreditation) • Course Start and End Dates (align with course run period) • Declaration/ Clause stating trainees are physically based in Singapore during the course run period • Acknowledgment/ Signed-off by trainees for physical forms. • Declaration stating that course fees were received through digital/electronic payment channels only, with no cash payments accepted or received. * For digital registrations, FTP to provide email confirmation to the individual-sponsored trainee / sponsoring employer. FTP's confirmation should capture details above. g) Invoice Mandatory details to be reflected in invoice: • Self-sponsored trainees - Trainees' full name (as per NRIC) • Company-sponsored trainees - Trainees' full name (as per NRIC), Financial Institution's name and Name of whom the invoice is attention to • Course Title and Code (as per course accreditation) • Course start and end dates • Full course fee breakdown comprising of full course fee, funding amount, amount after funding, GST on full course fee (if applicable) and currency exchange rate based on date of invoice (if applicable) • Invoice number • Invoice date h) Certificate of Completion Mandatory details to be reflected in Certificate of Completion: • Trainee's Full name (as per NRIC) • Course Title and Code (as per course accreditation) • Course start and end dates • Training Provider's logo • Training Provider's authorised signature • Issue Date A copy of COC must be issued to each trainee for all courses with compulsory assessment(s). i) For self-sponsored trainees attending courses under the Critical Core Skills and Future-Enabled Skills categories, a copy of the trainee’s employment records and all supporting documents used for verification for the duration of the whole programme must be retained. Retained records must include at least one of the following: • CPF statement • Payslip • Physical staff pass • Any other evidence proving the trainee’s employment with a Singapore-based Financial Institution regulated by MAS or an SFA-certified FinTech firm. j) Documentation showing any digital payment of qualifying fees made directly to training providers by trainees or trainee’s sponsoring employer for the course run.
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| GST funding support will no longer be applicable for all courses effective 3 October 2022.
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Double-Funding | All funding support submission by Training Providers and Financial Institutions / Singapore FinTech Association (SFA) certified FinTech Firms should not be claiming for any other grants, subsidies, or tax concessions, provided either by the Financial Sector Development Fund (FSDF) and/or other government agencies, unless explicitly permitted. |
| Administrative Fee | IBF reserves the right to charge an administrative fee if there are errors associated with the funding support submission, regardless of whether any grants have been disbursed. |
Computation of Unit Cost | Click here to access the computation for E-learning courses.
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| Course Run & Course Session | A course run and session(s) must be created before its course commencement date for the link to the QR code for attendance taking to be sent to the Course Administrator and Trainer. |
| Make-up Sessions / Assessment | Ensure to conduct and submit the attendance and assessment records for the make-up session(s)/assessment(s) within the submission deadline and within 120 calendar days from the initial course run end date which the trainee was enrolled in. |
Processing Timeline | IBF will take approximately 6 to 8 weeks to process the funding support submission upon complete and accurate submission after the submission deadline for Attendance and Assessment records, and full payment made. Longer processing time may be required in certain cases (e.g. incomplete or inaccurate submissions, Corporate PayNow not link or nonstandard cases).
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Payment of Course Fees | Trainees for whom IBF-STS / FTS funding is sought must make digital payment directly to the Training Provider for the portion of the course fees not funded by IBF-STS / FTS. For employer-sponsored trainees, the digital payment may be made by the trainee’s employer. The payment must not originate, whether directly or indirectly, from the Training Provider or any of its related and/or associated companies. Cash payments are not allowed under any circumstances.
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[2] Exchange rate should be using the daily MAS Exchange Rate as at the date of the invoice.
[3] Personal particulars include full name as per NRIC, NRIC number, mobile telephone numbers, e-mail addresses and nationalities.
[4] Attendance and assessment records should clearly state the IBF recognised course title, the start and end dates, and the start and end times of each training and/or assessment session.
[5] Full video recording should clearly show the following: (i) Date and time records of the delivery of that training session / lesson; and (ii) Date and time records of presence of trainees corresponding to that training session / lesson.
Foreign Currency Exchange Rate
Course fees paid in foreign currency other than Singapore dollar should be converted using the daily MAS Exchange Rate based on the date of the invoice.
Click here to access the MAS Exchange Rate.
To access the TPGateway, please click here.
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