Closing accounts

When you decide to close your business (a sole proprietorship, a partnership, or a corporation) and no longer need a Business Number (BN), you have to complete certain forms before the account can be closed. If your business is registered in Ontario, see Registered in Ontario.

Each business account has its own procedures (remitting and filing obligations) and forms that need to be completed:

Payroll

Send all Canada Pension Plan/Quebec Pension Plan (CPP/QPP) contributions, Employment Insurance (EI) premiums, and income tax deductions to your tax centre within seven days of the day your business ends.

You also need to complete the T4 slips and T4 Summary and send them to the Ottawa Technology Centre within 30 days of the day your business ends.

For more information, see Changing your business status.

You can attach a note with the final return asking that the account be closed or complete Form RC145, Request to Close Business Number Accounts.

GST/HST

See Deregistering (closing) your GST/HST account for more information.

Corporation

When you want to permanently dissolve your corporation, you should send an application for dissolution to the government body that governs the affairs of your corporation.

You should also file a final return and send us a copy of the articles of dissolution. Otherwise, we consider that the company still exists, and it will have to file a return even if there is no tax payable.

Forms and publications

• General Information for GST/HST Registrants (RC4022)
• Payroll Deductions and Remittances (T4001)
• T2 Corporation – Income Tax Guide (T4012)

Related topics

• Canada Business
• Related provincial and territorial government sites
• Canada's Business and Consumer Site