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 Corporations Canada
Forms, Policies, Fees and Legislation
Business Corporations (Canada Business Corporations Act)
Legislation and other documents
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Questions and AnswersTable of Contents
1. What changes to the Annual Return filing requirements have been made by Corporations Canada?Corporations Canada has changed the timeframes for filing Annual Returns (Form
22) from within the six months following the Taxation Year-End (TYE) to within
the 60 days following the Anniversary Date (i.e., date of incorporation, amalgamation
or continuance). By linking the filing date to a corporation's Anniversary Date,
the aim is to simplify the Annual Return filing process for Canadian federal
corporations. Return to the Table of Contents 2. Have the questions or boxes on the Annual Return (Form 22) changed?No, the questions and boxes on Form 22 have not changed, although the instructions have been updated to reflect the change to the filing period. However, the change in filing period means that beginning January 1, 2007 the information on the Annual Return is the information on the Anniversary Date. Prior to January 1, 2007, the information on the Annual Return is the information on the Taxation Year-End. Return to the Table of Contents 3. Why has Corporations Canada changed the period for filing the Annual Return?Corporations Canada has received many comments from corporations and representatives in the past few years stating that they are not satisfied with the current Annual Return filing rules, and that they would like these rules to be simplified. The old rules often created confusion for a corporation and could require it to file two Annual Returns in one year if there was a change in the corporation's financial year-end. Furthermore, the integrity of the Corporations Canada database is affected since the Income Tax Act does not allow the Canada Revenue Agency (CRA) to provide Corporations Canada with the taxation year-end information. Consequently, Corporations Canada has amended the rules governing the filing of Annual Returns in order to simplify the process. Return to the Table of Contents 4. What were rules governing the date for filing Annual Returns prior to July 1st 2006?The old rules stated that the "Annual Return referred to in section 263
of the Canada Business Corporations Act shall be sent to the Director within
the six months following the end of the corporation's taxation year." For
purposes of these Regulations, the "end of the taxation year" means
the taxation year-end as defined in subsection 1104(1) of the Income Tax Regulations
and is the equivalent of the financial year-end. Return to the Table of Contents 5. Why has the filing period changed from six months to 60 days?Reducing the period for filing from six months to 60 days will ensure that information provided by corporations in their Annual Returns (Form 22) is more up to date, thereby ensuring the accuracy of the information in the Corporations Canada database and is more in harmony with provincial and territorial jurisdictions.Return to the Table of Contents 6. What is my corporation's Anniversary Date and where can I find it?The Anniversary Date is the date the corporation was created or the date the corporation first came under the jurisdiction of the Canada Business Corporations Act (i.e., the date of incorporation, amalgamation or continuance). The date is generally found at the bottom, right-hand corner of the corporation's Certificate of Incorporation, Amalgamation or Continuance. For the purpose of a corporation that has been revived, the Anniversary date remains the date it was created (i.e., the date of incorporation, amalgamation or continuance). For the purposes of filing the annual return, the anniversary date consists of the month and day of the month. If you cannot locate your corporation's Anniversary Date, please visit our
Corporations Canada website and click on "Search for a Federal Corporation"
in the left-hand menu on the homepage and enter your corporation number or name
in the appropriate box. 7. What is my corporation's Taxation Year-End?Your corporation's Taxation Year-End is the date that the corporation is required to file its T2 Corporate Income Tax Return with the Canada Revenue Agency. More information is available from the Canada Revenue Agency website. Return to the Table of Contents 8. What if my corporation does not yet have a Taxation Year-End?Until your corporation's Taxation Year-End is set, it is not possible to determine the filing period for the 2006 Annual Return. Once the Taxation Year-End has been set, use the "Annual Return Filing Calculator" on the Corporations Canada website to determine the filing period. Return to the Table of Contents 9. What will be the overall impact of the new filing date on Canadian corporations?The ultimate goal of the change to the Annual Return filing date is to make the filing process simpler, clearer and more cost-effective for Canadian corporations. Return to the Table of Contents 10. How do I determine when my corporation is required to file its Annual Return for 2006 and 2007?To help you determine when your corporation must file its Annual Return, you can use the "Annual Return Filing Calculator" on our website. To access the Calculator, simply click "Online Filing" on the Corporations Canada website homepage and then "Annual Return Filing Calculator". Input your corporation's Anniversary Date (i.e., date of incorporation, amalgamation or continuance) and Taxation Year-End and click submit. The results will show the filing period for your 2006 and 2007 Annual Return.Return to the Table of Content 11. When is my corporation required to file its Annual Return for 2008 and subsequent years?Beginning January 1, 2007, all corporations must file their Annual Return within the 60 days following their Anniversary Date (i.e., the date of incorporation, amalgamation or continuance). For 2008 and subsequent years, your corporation must file its Annual Return within the 60 days following its Anniversary Date (i.e., the date of incorporation, amalgamation or continuance).Return to the Table of Content 12. What will happen if my corporation does not file its Annual Return?Please be aware that failure to file your corporation's Annual Return could lead to the dissolution of the corporation pursuant to section 212 of the Canada Business Corporations Act.Return to the Table of Content 13. What if after January 1, 2007, my corporation has to file an Annual Return for a year prior to 2007?If your corporation is late in filing an Annual Return, it should be filed immediately. It is important to remember that the information on an Annual Return for a year prior to 2007 is the information at the Taxation Year-End for that year. For example, if the Taxation Year-End is October 31, the information on the 2005 Annual Return is the information on October 31, 2005. |
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| Created: 2006-04-27 Updated: 2007-05-30 |
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