Corporate Annual Return in Canada: What It Is and How to File It

Imagine this: you’re running your business smoothly and filing your tax return on time, but missing your corporate annual return could result in your corporation being dissolved.

Many business owners confuse the annual return with a tax return, but they serve different purposes. 

The annual return is submitted to Corporations Canada to confirm your corporation’s legal information and must include accurate updates on shareholder and director details. 

A tax return, on the other hand, is filed with the Canada Revenue Agency (CRA) and reports your business’s revenue, expenses, and taxes owed.

You must file your annual return within 60 days of your corporation’s anniversary date under the Canada Business Corporations Act (CBCA). Missing the deadline can lead to penalties, a default notice, or even dissolution.

In this guide, we’ll explain what an annual return is, when to file it, and how to complete it quickly and accurately.

Key Takeaways

• Ownr simplifies federal and provincial annual return filings with automated, dual-filing to ensure accurate submissions, saving time and effort.
• Manage all corporate compliance needs from one platform, keeping business details up-to-date without legal or accounting help.
• Affordable solution for business owners to stay compliant and avoid penalties, ensuring timely and hassle-free filings.

Steps to File Your Annual Return for Corporations in Canada

Follow these steps to gather the required information, complete the forms, and submit your filing on time.

Step 1: Gather Your Corporate Information

Before filing your annual return, make sure you have the following information ready:

• Corporation name
• Corporation number
• Registered office address
• Director details

It’s important to confirm that this information matches your Articles of Incorporation or the most recent filed update. Inaccuracies can lead to your filing being rejected, so double-check to avoid delays.

Step 2: Verify Your Corporation Number and Registered Office Address

You can verify your corporation number and registered office address through the official government portal or your Ownr dashboard.

Even small discrepancies, such as a suite number or postal code, can delay your filing or affect the service of legal documents. Ensure this information is correct before moving forward.

Step 3: Confirm Director and Officer Information

Make sure all director names and addresses are up to date. If there have been any changes, update them before you file.

Remember, corporations are legally required to notify the registry within 15 days of any change in directors. If this hasn’t been done, you can update this information during the annual return filing.

Step 4: Identify and Complete the Correct Forms

There are different forms depending on your corporation’s jurisdiction. For federal corporations, you’ll need Form 22. Provincial corporations, like those in Ontario, will file the Ontario Annual Return (Form 1), while businesses in British Columbia will file the BC Annual Report.

Make sure you use the correct form to avoid delays.

Step 5: File Online Through Corporations Canada or Provincial Portal

Filing your annual return is a simple online or paper filing that takes little time to complete.

• Federal: Use the Corporations Canada Online Filing Centre.
• Provincial: If your business is registered provincially, file through portals like BC Registries or ServiceOntario.

Be sure to file under the correct jurisdiction. Federal filings do not replace provincial filings, and vice versa.

Step 6: Pay the Filing Fee and Keep Your Confirmation

The typical cost to file your annual return is $20 for online submissions (or $40 for federal paper filings). Provincial fees may vary.

Once filed, keep your payment receipt and confirmation for your records. These documents serve as proof of compliance and may be required during audits, banking applications, or other official purposes.

What is the Information Required for Filing an Annual Return for Corporations?

Here’s a quick reference list to ensure accuracy and compliance with your corporation’s legal records:

• Corporation name and number: These must match your Corporations Canada registration to identify your corporation in the government database.
• Registered office address: The official address for legal communication. Ensure it’s accurate to avoid issues with legal documents.
• Mailing address: If different from the registered office, provide a mailing address for correspondence. The registered office address must be in the province of incorporation.
• Names and addresses of directors and officers: Keep this information up to date. Corporations must report director changes within 15 days.
• Distributing or non-distributing status: Clarify if your corporation is public (distributing) or private (non-distributing).
• Date of the last annual meeting or written resolution: Report the date of the last shareholder meeting or written resolution if no meeting was held.
• Effective date of changes: If there were recent changes to any of the above information, include the effective date during filing.

Ensure all information matches your legal records to avoid penalties or dissolution and to stay in good standing. It’s important to note that the information required for filing annual returns differs from what is needed for annual tax returns. 

Check out our tax returns vs annual returns guide if you’re still unsure about the difference between the two. 

Federal vs. Provincial Corporate Annual Return Filing

When managing a federally incorporated business in Canada, understanding the differences between federal and provincial annual return filing requirements is crucial. Each jurisdiction has its own deadlines, fees, and processes that businesses must follow to stay compliant and avoid penalties.

Corporations Canada (Federal Filings)

Federally incorporated businesses must file an annual return with Corporations Canada each year to stay active and avoid dissolution. Here’s a quick overview of the process:

1. File Online: Submit your annual return through the Corporations Canada Online Filing Centre for $12.
2. Corporation Key: You’ll need your corporation key and information on individuals with significant control (ISC) for the filing.
3. Deadline: Must be filed by the due date, which is typically within 60 days after the anniversary of incorporation. 
4. Confirmation: After filing, save your confirmation receipt as proof of compliance.

Provincial Registries and Filing Timelines

Each province in Canada has its own registry and filing requirements for annual returns:

• Ontario:
  • File within six months of the corporation’s taxation year end under the Corporations Information Act (CIA).
  • Free online filing through ServiceOntario, but intermediaries may charge fees.
  • Failure to file may result in dissolution after two years.
• British Columbia (BC):
  • File within two months of the anniversary date of incorporation.
  • File online with an access code via BC Registries.
  • Failure to file for two consecutive years can lead to dissolution.
• Alberta:
  • Two-month filing window from the anniversary date of incorporation.
  • File through an authorized service provider.
  • No fee for cooperatives; other businesses may need to pay a service fee.
  • Failure to file may result in dissolution.
• Quebec:
  • File the Annual Declaration for Quebec corporations within the required timelines. For more information on filing in Quebec, check out this Annual Declaration guide in Quebec.

Each province has unique deadlines, fees, and filing processes. Ensure timely filing to avoid penalties and maintain good standing. Annual returns are typically filed through the relevant provincial or federal government portal, so make sure you follow the correct procedures.

When You May Need to File Both

If your federally incorporated corporation conducts business in a province or territory, you may need to register extra-provincially. This applies if you have an address, phone number, or offer services/products in that area. The aim here is to help corporations stay in good standing with the government. 

For example, if you operate in Ontario, Nova Scotia, or Newfoundland and Labrador, you’ll need to file provincial forms to ensure your federal corporation is properly registered. Failure to file may result in fines, penalties, or the corporation being struck from the register.

What are the Consequences of Not Filing Your Corporate Annual Return?

Failure to file may result in fines, penalties, or the corporation being struck from the register. If you don’t file on time, your corporation could face the following consequences:

• Administrative Dissolution of Your Corporation: Your corporation may be dissolved if it fails to file, losing the legal right to operate.
• Loss of Good Standing Status: Non-filing causes your corporation to lose good standing, which can impact access to benefits and legal contracts.
• Reinstatement or Revival Process: If dissolved, you can apply for revival, but this requires additional forms, a $250 fee, and approval is not guaranteed.

Stay compliant to avoid these risks and ensure your corporation remains active.

File Your Annual Return for Corporations Easily with Ownr

Say goodbye to the stress and complexity of corporate compliance. Keeping your business in good standing with both federal and provincial registries shouldn’t be a struggle. With Ownr, it’s simple, fast, and hassle-free.

Why Choose Ownr?

• Automated dual filing: Our system automatically handles both your federal and provincial returns, ensuring accurate submissions and saving you valuable time and effort. This helps ensure ongoing compliance with the Canada Business Corporations Act (CBCA) or provincial equivalent.
• All-in-one platform: Manage all your corporate data, filings, and compliance needs from one easy-to-use platform, eliminating scattered paperwork and confusion.
• Effortless updates: Need to change a director or update an address? Keep your business details up to date without the need for expensive legal or accounting help.
• Stay compliant & save: Ownr is the affordable solution specifically for business owners, helping you stay compliant and avoid late filing penalties.

Filing your annual return is an important part of corporate transparency and accountability. Simplify your filing process today and get back to running your business.

Frequently Asked Questions

Do Ontario corporations need to file an annual return?

Yes, Ontario corporations must file an annual return within 60 days of their anniversary date to maintain good standing. Failure to file may result in the corporation being struck from the register and losing its legal status.

How often should I file corporate annual returns?

Annual returns must be filed yearly, around the corporation’s anniversary date. Federal corporations file with the federal government, while provincial corporations, like those in Ontario, file with the provincial government. Be sure to follow each jurisdiction’s specific deadline.

How much does it cost to file an annual return?

Ownr offers annual return filings as part of the Online Minute Book Plan ($199/year) or Managed Corporation Plan ($599/year), which cover essential compliance services.

However, government registry fees are separate: $12 CAD for federal online filings and $40 CAD for paper filings, with provincial fees varying. Any applicable fees are paid at the time of filing.

Can Ownr file both federal and provincial annual returns?

Yes, Ownr supports filing both federal and provincial annual returns, helping business owners stay compliant with requirements across jurisdictions.

Can I update my company information when filing my annual return with Ownr?

Yes. Ownr allows clients to update their company information during the annual return filing process. This feature makes it easy to keep business details up to date without any additional cost.

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