Business
Canada — Business: Annual Compliance
Federal (CBCA) corporations must file an annual return with Corporations Canada within 60 days of their anniversary date, every year. It cannot be filed early. A late filing shows as overdue and blocks a certificate of compliance. Corporations Canada's policy is to dissolve a corporation only after it has failed to file for two years, after a final notice giving 120 more days. The annual return is separate from the T2 corporate income tax return, due to the CRA six months after the tax year ends. Shareholders must hold an annual meeting no later than 15 months after the last one and within six months of the financial year-end. CBCA corporations must keep a register of individuals with significant control and, since 22 January 2024, file that information with Corporations Canada.
Key facts
- Annual return to Corporations Canada: within 60 days of the corporation's anniversary date, every year; it cannot be filed early.
- A late annual return shows as overdue and blocks a certificate of compliance.
- Corporations Canada dissolves a corporation only after two years of non-filing, with a final notice giving 120 more days.
- T2 corporate tax return: due six months after the tax year-end; most corporation tax balances are due two months after year-end (three months for qualifying CCPCs).
- Annual shareholder meeting: no later than 15 months after the previous one and within six months of the financial year-end (CBCA s. 133).
- Corporations keep a register of individuals with significant control (25% or more of shares or control in fact); CBCA corporations file this information annually with the annual return and within 15 days of any change.
Timelines
- Annual return: Within 60 days of anniversary date
- T2 corporate tax return: 6 months after tax year-end
- Annual shareholder meeting: Within 15 months of the last, and 6 months of year-end
Common mistakes
- Treating the annual return as a tax filing — it is a separate administrative filing from the T2.
- Trying to file the annual return before the anniversary date; early filings are not accepted.