A corporation must prepare financial statements. There is no requirement to file these statements with Corporations Canada or your provincial registries office. Financial statements must be prepared in accordance with the Generally Accepted Accounting Principles, as set out in the Canadian Institute of Chartered Accountants Handbook.You must provide copies of your financial statements to your […]
Keeping Your Corporation in Good Standing: Appointment of Auditors
At the shareholders’ meeting, shareholders must, by ordinary resolution, appoint an auditor to audit the corporation’s financial statements. However, shareholders may decide by a unanimous resolution (voting and non-voting shares) not to appoint an auditor.The requirement for an auditor increases the reliability of the financial statements and improves protection for stakeholders. Canada Corporate Minute Books. […]
Keeping your Corporation in Good Standing: Corporate Records
Your corporation must keep certain corporate records at its registered office or at some other location elsewhere in Canada as set out by the directors.Upon request, a corporation’s shareholders and creditors (such as suppliers) may examine the following records: Articles of Incorporation, by-laws and their amendments and any unanimous shareholder agreements; minutes of meetings and […]
Keeping your Corporation in Good Standing: Changes Regarding Directors
You must notify Corporations Canada or your provincial registries office of any change in the board of directors within 15 days following the change: when new directors are appointed, or when individuals cease to be directors. You must also notify Corporations Canada or your provincial registries office of any change of residential address of a […]
Keeping Your Corporation in Good Standing: Change of Address of a Registered Office
Moving the registered office within the province or territory indicated in the articles, Your corporation must notify Corporations Canada (for Federal Companies) or your Provincial Registries office (For Provincial Corporations) of any change to its registered office address(e.g. if the corporation moves) within 15 days following the change. The corporation must also provide the new […]
Keeping Your Corporation in Good Standing: Failure to file an Annual Return
A corporation is deemed not to be in good standing with the CBCA if it:fails to file its Annual Return for a period of one year; fails to pay the required fees; and/or submits an incomplete return. Corporations Canada has the power to dissolve a corporation that has not complied with certain requirements of the […]
Keeping your Corporation in Good Standing: Filing an Annual Return
The Annual Return is a document that provides information about your corporation. This information lets Corporations Canada make sure that your corporation complies with certain requirements of the CBCA. It also allows Corporations Canada to maintain its database of federal corporations. Every corporation must submit an Annual Return every year to Corporations Canada within 60 […]
Incorporating a new company in Ontario: Effective Date of Incorporation
When Articles are filed with the Central Production and Verification Services Branch they are endorsed with a certificate and are effective on the date set out in the certificate. Articles cannot be endorsed until all requirements under the Business Corporations Act have been met under the policy of Endorsement as of Right. An effective date […]
Incorporating a new Company in Ontario: Shareholders
Note that all business corporations must be authorized to issue shares. Therefore, Article 6, “The classes and any maximum number of shares that the corporation is authorized to issue,” of the Articles of Incorporation form must be completed (e.g. “unlimited common shares”). Incorporate today your new Ontario Corporation for Only $99. Fast, Easy, Online We […]
Incorporating a new company in Ontario: Directors of the Corporation
The directors shall manage or supervise the management of the business and affairs of the corporation. The board of directors of a corporation must consist of at least one individual, and in the case of an offering corporation, not fewer than three individuals (S.115 (2)). The Articles of Incorporation may set out a fixed number […]
