How To Dissolve An Ontario Corporation

ByLaura Harvey
Dissolving An Ontario Corporation

Originally Published on May 16, 2016

In order to end the existence of a corporation in Ontario, it needs to be dissolved. Dissolution occurs when a corporation is terminated legally. To achieve dissolution, a Certificate of Dissolution needs to be issued by The Province of Ontario.

Consent to Dissolve

The consent to dissolve was updated as of October 2021 where the consent to dissolve is now part of the Articles of Dissolution process where the Province of Ontario provides the consent to dissolve internally.  The consent can take up to 30 days once the Ontario Articles of Dissolution are filed with the Province.  Our experience has been that the consent only takes a few days as part of the internal processing program.

dissolve a corporation

Articles of Dissolution

By filing your corporation’s Articles of Dissolution you are letting the government know that you are voluntarily ceasing the business operations of your company.  Once you have received completion of the documentation, you can notify CRA, financial institutions, clients etc.

What information is required to file for Dissolution?

To receive your company’s Articles of Dissolution you will need the corporate name or numbered corporation name. You will also need to provide confirmation that your corporation has not gone bankrupt/insolvent, has no property or liabilities and that the dissolution has been approved by all shareholders. Additionally, you will be required to provide the name, address and signature of the current director of the company, and a date of dissolution. The date of dissolution can be dated as the same day or on a date in the future up to 30 days.

Company Key for Dissolution of Corporation

The company key was introduced in Ontario for any registered or incorporated business when the business starts, makes changes or cancels or dissolves.  If you submit your Ontario Articles of Dissolution with us, we do not require the 9 digit company key and can finalize the ending to your corporation without this additionally required item.  As an intermediary with the Province, we have been giving the access to update corporate records without the requirement of the company key.

Third party authorization

You do not have to submit your documents yourself. Submission for dissolution can be done by a third party like Ontario Business Central. To save your time, we are able to prepare the Articles of Dissolution for you. These articles will not be submitted to the Ontario government without your final approval. Moreover, once the Articles have been provided to us, they are completed that same day to ensure everything moves quickly towards the dissolution of your business. The only aspect that remains once your corporation is dissolved is for you to contact banking institutions and Revenue Canada to let them know that you have ceased operations. Our online Articles of Dissolution form is easy to complete and only takes a few minutes of your time.

File an Ontario Dissolution

inquiries@ontariobusinesscentral.ca
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Ontario Business Central Inc. is not a law firm and cannot provide a legal opinion or advice. This information is to assist you in understanding the requirements of registration within the chosen jurisdiction. It is always recommended, when you have legal or accounting questions, that you speak to a qualified professional.

Laura Harvey
Laura Harvey

Laura Harvey stands as a beacon of entrepreneurial support and expertise, embodying the spirit and drive of the community she serves. As the proud owner of Ontario Business Central Inc., Laura's journey is one of dedication, passion, and an unwavering commitment to nurturing the entrepreneurial landscape in Canada.

With over three decades of experience as a corporate specialist coupled with over 25 years of entrepreneurial ventures, Laura brings a wealth of knowledge and insight to her role. Her expertise is not just theoretical; it's built on the real-life challenges and triumphs of navigating the business world. This unique blend of professional and personal experience positions Laura as a relatable and trusted guide for those embarking on their entrepreneurial journey.

Beyond her role at Ontario Business Central, Laura has extended her outreach through the innovative YouTube series "Taking the Leap." This platform allows her to connect with new business owners, offering them a stage to share their stories and insights. "Taking the Leap" is more than just a series; it's a community where aspiring entrepreneurs can find inspiration, learn from the experiences of others, and gain practical advice on crucial corporate tasks like registering a business, updating business information, understanding tax account intricacies, and much more.

Laura's contributions extend into the digital world through her in-depth blogs for Ontario Business Central. Here, she delves into topics essential for entrepreneurs and business owners looking to start, manage, and grow their ventures. Her writing is a reflection of her passion for supporting entrepreneurial advancement and a testament to her deep understanding of the corporate sphere.

Laura Harvey is not just an entrepreneur; she's a mentor, guide, and fellow traveler on the path of business ownership. She embodies the ethos of "walking the walk," providing both the tools and the encouragement for others to thrive in their entrepreneurial endeavors. Whether through her written words, her YouTube series, or her hands-on approach at Ontario Business Central Inc., Laura is dedicated to uplifting and assisting new and established business owners alike.

You can find Laura on Linkedin and Twitter and Youtube.

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Taking The Leap YouTube Series