Canada Articles of Dissolution
Company Formations helps Canada federal and provincial corporations to maintain up-to-date their corporate records information with the corporate registries office of their jurisdiction.
Filing of Articles of Dissolution . Articles of dissolution are used to voluntarily dissolve an active or inactive Canada federal or provincial business corporation that is already no longer in business, or was never actively used.
To take effect this articles of dissolution, the owners of the corporation must approve the dissolution of the business and the board of directors should draft and approve the resolution to dissolve the corporation. The resolution must be then be ratified by the shareholders of the corporation present at a special general meeting, and both actions should be documented and placed in the corporate record book.
After the shareholders have voted to dissolve the corporation, the appropriate paperwork must be filed with the corporate registry office of their jurisdiction of incorporation.
Because you are ceasing operations, your tax obligations do not immediately cease. You must formalize the closing of the business with the Canada Revenue Agency as well with your provincial tax revenue agency.
Also, you must notify by mail all of your company’s creditors of the dissolution. The notice given should include the following information:
- That your corporation has been dissolved or has filed the statement of intent to dissolve.
- The mailing address to which creditors must send their claim(s).
- A list of the information that should be included in the claim.
- The deadline for submitting claims (this is often 120 days from the date of the notice).
- A statement of claims may be barred if not received by the deadline.
