business registration changes amendments

As a business owner, it’s your responsibility to keep your business records up-to-date and accurate. Any changes made should be updated with the Province within 15 days of the change taking place, so they are able to keep their files current. Even if this time has lapsed, it’s important to file these changes as soon as possible.

What information is needed to amend a current Master Business Licence? 

In order to complete the amendment, you will need to provide your 9-digit Business Identification Number (BIN), found near the middle of your Master Business Licence.

There are only certain changes that can be made to a Master Business Licence, depending on the type of business that was originally registered.  

ACCEPTED CHANGES:

Sole Proprietorship

  • Business and/or Business Mailing Address
  • Individual Address
  • Business Activity

General Partnership

  • Business and/or Business Mailing Address
  • Individual(s) Address(es)
  • Business Activity
  • Adding or removing a partner, as long as a minimum of 2 owners remain

Tradename (operating as name, under a corporation)

  • Business and/or Business Mailing Address of the Tradename
  • Business Activity
  • If the Corporation has either had a name change or has Amalgamated, you can update the current Corporate Name on the Tradename

CHANGES THAT ARE NOT ALLOWED:

Sole Proprietorship

  • Business Name
  • Change the Individual owner from one person to another (if a person gets married, a name change can be filed using a photocopy of the Driver’s License showing the name change)
  • Changing from a Sole Proprietor to a General Partnership or Tradename

General Partnership

  • Business Name
  • Switching from a General Partnership to a Sole Proprietor or Tradename

Tradename

  • Business Name
  • Change authorizing director’s information

Amend Your Business

What can I do if I want to make a change that is not accepted?

If the changes you want to make to your Master Business Licence are not acceptable, you will need to order a NEW Master Business Licence. If you will no longer be continuing to use the currently registered Master Business Licence, it is recommended to CANCEL it.

New Business Registration

Cancel Your Current Registration

Why is it important to file changes?

Business records should be kept up-to-date and accurate for many reasons.

Legal Service – Should any legal action be filed against a business, it’s essential that a current address is on file, for proper delivery of any legal documents. If legal action is taken against your company, but the address or contact information is not accurate and current, judgment may be made against you without your knowledge. Business owner(s) have the responsibility to file changes and keep their records up-to-date promptly after any change happens.

CRA—Revenue Canada may be required to contact the business owner(s) regarding any issues with the business.

Banking – Where there are multiple owners involved, banks must know if any owners have been removed or added to the business, as well as their updated contact information, so the bank can remove or add authority to owners over any bank accounts.

How long will it take to complete these transactions?

Changing/amending a current Master Business Licence registration: 1 business days
Registering a new Master Business Licence: Monday through Friday, same business day, if ordered before 3 pm

Rush registration of a new Master Business Licence: 2 hours, if ordered before 3 pm
Cancellation of a Master Business Licence: 1 business days

Should you have any questions about making changes to your Master Business Licence, please feel free to reach out to our staff for additional information and assistance.

inquiries@ontariobusinesscentral.ca
Toll-Free: 1-877-306-9458
Local: 1-416-599-9009
Fax: 1-866-294-4363
Office Hours: 9:00am – 5:00pm
Monday – Friday E.S.T.

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.