Annual Declaration – Federal

Every Canada corporation that is governed by the Canada Business Corporations Act is required to submit an annual return to Corporations Canada on the anniversary of the corporation.

You must file an annual return if your corporation is listed as “active, meaning it has not been dissolved, discontinued, or amalgamated with another corporation.

This is not your income tax return—it’s a requirement under corporate law, separate from any obligations you may have with the Canada Revenue Agency (CRA).

Failure to file the annual return may lead to the dissolution of your corporation. Corporations Canada is responsible for ensuring corporate information remains current. If your corporation does not file its annual returns, they may assume it is no longer operational and take steps to dissolve it due to non-compliance, legally ending its existence. This can result in serious consequences, including the loss of legal capacity to conduct business.

Additionally, this is a time where you can also update your corporate information if any changes have been made during the previous year and you have not already done so. You can opt to file a notice of change to update any information that may have changed.