Federally incorporated companies are required to file the Annual Return each year, whether there is a change to the corporation or not. You are required to file on the anniversary date each year. If failure to file occurs for more than 2 years, the corporation will be cancelled by the Federal Government.
Having an existing corporation gives you the opportunity to make any changes you want to the corporation.
Ontario Business Central makes the process simple and easy to complete to update your existing Ontario or Federal Corporation seamlessly on a same day basis.
Ontario Business Central offers other options that are not listed on our website. If you don’t see what you would like to do, please give our office a call and discuss with one of friendly, knowledgeable staff. You can call 1-800-280-1913 or send us a quick message to [email protected]
Anytime there is a change to the corporation, you are required to update your corporate record immediately with the jurisdiction where the incorporation took place.
To change your corporate name, you must file a secondary document to your original Articles of Incorporation. The secondary filing allows you the opportunity to legally change the name of the corporation, giving you the ability to advertise that new business name, along with updating your corporate information with your financial institution, Revenue Canada and your clients. By completing a name change to your corporation, your current corporate name goes into your history and the new corporate name is to be used once the filing has been finalized. A new Nuans report will be required for the new corporate name as well. One current director’s details are required to authorize completion of this change.
The corporate structure allows you to change the parameters of the corporation. One current director’s details are required to authorize this filing. The changes are as follows:
When you originally incorporated, the Articles of Incorporation required you to provide the minimum and maximum number of directors for the corporation. If you wish to either add more directors above your maximum allowed or remove below your minimum number of directors, it is required that the minimum and maximum number of directors be updated to provide the room for you to include or remove the directors as you wish. Usually, the incorporation is set up with a minimum of 1 director and a Maximum of 10. This range can be adjusted by amending your Articles of Incorporation. One current director’s details are required for this filing.
At any time you may change the directors of any corporation, you will want to update this information with what is on file for the corporation. this filing happens electronically with the Province of Ontario or Industry Canada with the Federal Government. You can add, remove or modify a directors position. Please ensure when adding a new director, you have the correct legal name and address of the individual along with whether this person is or is not a Canadian Citizen or Permanent Resident. This filing is completed on a same day basis and emailed to you upon completion. The corporate record with the government is updated immediately. You only need to provide the changing information and do not need to provide details for the corporate address, mailing address or any other directors information that remains the same.
Anyone can make this change.
Changing the corporate address is completed in the same format as a director change. If you are changing the corporate or mailing address for the corporation, these are the only details required to make the change outside of the corporate name. Ensure the new corporate address is a physical address where someone can come to the physical location of your corporation. It is not permitted for a corporation to use a postal box or UPS store. If you do not have a separate location for the business, you can always use your home address.
An Initial Notice is required after you complete an Ontario Incorporation. Within the Articles of Incorporation you must provide the director’s name and addresses to fulfill the requirement for incorporation.
The Initial Notice is a secondary mandatory filing with the Province, due within 60 days of the incorporation, which provides the officer positions for the corporation. You can include positions such as President, CEO, CFO, Secretary, Administrator, Treasurer, General Manager, Chair Person and a number of other options. The officers of the corporation are not necessarily the directors, however typically, they go hand in hand. Not all directors are required to hold officer positions and at the same time, a director may hold multiple officer positions. It’s important overall to consider who is responsible for the corporation, who is maintaining the records of the corporation and who is overseeing the finances of the corporation. Those are the most important positions to consider and file. Anyone can make this change.
The Annual Return is required for a Federally incorporated company yearly, whether there is a change to the corporation or not. You will be required to file on the anniversary date each year from when you originally incorporated. The filing is completed with the Federal Government (Industry Canada) on a same day basis and keeps your corporation in good standing with the Federal Government. If failure to file occurs, the corporation will be cancelled by the Federal Government. Anyone can make this change.
Ontario Business Central has been in business since 1992 helping those who wish to make changes to their business in Canada.
If you have questions, please feel free to reach out to our dedicated, friendly staff from Monday through Friday from 9:00am to 5:00 pm – EST.