01 Apr Amendments to the Ontario Corporation Information Act Annual Return
All corporations that are incorporated continued or amalgamated in Ontario, and all foreign corporations that are licensed to carry on business in Ontario, being subject to the Ontario Corporation Information Act Annual Return, are required to file an annual return with the Government of Ontario within six (6) months of their year-end.
It is important to note that failure to file the annual return may result in deregistration and involuntary dissolution of the corporation.Historically, the annual return was filed with CRA and attached by the corporation’s accountant as a schedule to the corporation’s tax return. However, recent changes by the Province have resulted in the annual return no longer being scheduled for the tax return, which means that it is no longer possible for a corporation’s accountant to file the annual return. Corporations are now required to file their annual returns directly with the Ontario Business Registry.In order to file the annual return, the corporation must access the Ontario Business Registry (https://www.ontario.ca/page/ontario-business-registry) and request a company key.
To request the company key, the registered business name or the Ontario Corporation Number, or the Business Identification Number for the corporation will be needed.
The Ministry will send the company key to the corporation’s registered address, and once it is received, the website should again be accessed to create a One-Key ID and Service Ontario account. This will allow the corporation to file the annual return.Alternatively, FIJ Law LLP will be happy to assist with the filing of the annual return as part of our ongoing corporate maintenance for our corporate clients. Please contact us if you require our assistance in this regard.
If you have any questions, please feel to reach out to Craig Sandler directly at csandler@fijlaw.com or at 905 763 3770 x 242 for further information.
The material provided in this article is for general information purposes only. It is not intended to provide legal advice or opinions of any kind.
Craig Sandler is a seasoned advisor to businesses in all areas of corporate and commercial law. Acting for large corporations, mid-sized firms, and small start-ups alike, he offers informed, practical advice on business sales and acquisitions, commercial agreements, leasing arrangements, corporate maintenance and filings, and everyday business issues.