We Can Help Managing Your Corporate Filings with the New Ontario Business Registry
By Michael Henry and Jane Shpolska
We find that some companies neglect corporate minutes and filings until there is an important event like a transaction or a tax audit. When records need to be updated this usually leads to delays, increased costs, and unnecessary stress. We can help you avoid those pitfalls and now keeping a corporation up to date in Ontario has become easier.
On October 19, 2021, the Ontario government will launch the new Ontario Business Registry. Like other users, we will now be able to act on behalf of our clients to complete over 90 transactions through the new online registry, including registering a new business and dissolving an existing one, registering a business name under the Business Names Act, updating information about a business name under the Business Names Act, filing notices and other documents under other business law statutes. Government services will be accessible online 24/7, with instant fulfillment and automated notices.
In anticipation of this launch, the Ministry will suspend its current registry services on October 18, 2021. This may result in some delays with filings until the new system is functioning smoothly. If you plan reorganization, we suggest any corporate filings (amendments to articles, amalgamations, etc.) are done as soon as possible before October 18, 2021.
We also want to remind you that a corporation’s annual return under the Corporations Information Act is no longer part of the corporation’s annual tax filing:
- As of May 7, 2021, the annual return forms are no longer available for download from Canada.ca.
- As of May 15, 2021, the annual return can no longer be filed with the Canada Revenue Agency.
- As of May 15, 2021, and until the Ontario Business Registry launches on October 19, 2021, corporations are exempted from the annual return filing requirement, if the return is due during this period.
- Annual returns due after October 19, 2021, are no longer exempt and need to be filed in time.
Please remember that annual returns are due to be filed within 6 months of the Corporation’s year-end and are filed to confirm directors, officers, and registered office of the Corporation.
While these services are available online, we cannot stress enough the importance of seeking legal advice and assistance with corporate filings. This will help you avoid missing important deadlines and making mistakes attempting to file documents without professional help. In the long run, it will help you save on unnecessary and significant expenses trying to fix errors made.
Houser, Henry & Syron LLP is happy to assist you with corporate filings and maintaining your corporate records. If you have any questions on new filing requirements and Ontario Business Registry, please do not hesitate to contact us.
Michael Henry, Managing Partner – MHenry@houserhenry.com or 416.860.8021
Jane Shpolska, Law Clerk – JShpolska@houserhenry.com or 416.860.8023
Since 1934, Houser Henry & Syron LLP has provided legal services to Canadian and foreign private businesses, helping them deal with complex legal challenges to grow and to manage risk successfully. We help our clients with mergers and acquisitions, commercial real estate, reorganizations, shareholders disputes and agreements, commercial agreements, employment issues and financing. We also pride ourselves in practising in Plain English.