Ontario Business Registry & Annual Returns
Our London, Ontario accountants have gathered all of the details on how recent reporting updates will affect your Ontario business.
The Government of Ontario recently launched an online business registry to handle a variety of corporate transactions, replacing the need for many in-person services.
A significant change is that Annual Corporate Returns are now filed through this new portal. Note: an Annual Return is NOT your Corporate Tax Return (T2).
Previously the Annual Corporate Return, which includes information as to the directors and officers of the company, was filed as part of the Corporate Tax Return via Schedule 546.
Due to these government changes, these filings are no longer accepted as part of the Corporate Tax Return filing and will need to be completed online by the officer of the company.
You can access the Ontario Business Registry here:
Ontario Business Registry
Accessing the Registry
A business entity (like a corporation or a sole proprietorship) that is registered, incorporated, or licensed to carry out business in Ontario, will need a Company Key to access your entity’s profile.
A Company Key is like the Personal Identification Number (PIN) you use at the bank or to access other online accounts or services.
You can submit a request for your company key by following the above link and completing the Company Key Request Form.
You will be able to file your annual return directly in the new Ontario Business Registry. An annual return is a document that all “active” corporations are required to file with Corporations Canada every year under federal legislation to provide up‑to‑date information on the corporation.
For newly incorporated Ontario corporations:
An initial return must be filed within 60 days of the anniversary of the date your business was incorporated, amalgamated with another corporation, or continued into an act administered by Corporations Canada.
All other Ontario Corporations:
From May 15, 2021, through October 18, 2021, corporations whose annual returns were due during that period were exempt, meaning those corporations did not have to file an annual return for 2021.
Now that the Ontario Business Registry has launched, corporations who have an annual return due on or after October 19, 2021, must file their annual returns, which can be done directly on the registry.
The filing deadline is 6 months from the tax year-end date of the corporation.
We recommend that businesses contact their corporate lawyer prior to filing the Ontario annual information return online if they do not feel comfortable filing it online themselves.
Our London, Ontario corporate accounting firm is currently accepting new clients. If you would like more information on the services we offer, please don’t hesitate to contact us.