Whether notification is required depends on which type of financial institution conducts the outsourcing activity. Outsourcing of IT services by banks will need to be reported to the Financial Services Authority (Otoritas Jasa Keuangan) ("OJK"). In accordance with OJK Regulation No. 9/POJK.03/2016 on Prudential Principles of Banks that Partially Outsource Work to Other Parties, banks must submit an outsourcing plan report and a report on any issues arising from the outsourcing. The report on the outsourcing plan is submitted annually, at the latest by 31 December. Banks can only add and/or change a planned outsourced work activity that has been reported and must submit the report on the change to the outsourcing plan at the latest by 30 June of the current year.