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Keeping your Ontario corporation in good standing

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					Empowering Entrepreneurs trough Entrepreneurship & Technology               www.e42canada.com

Keeping your Ontario Corporation in Good Standing: Reporting Obligations. Your Obligations
under the Ontario Business Corporations Act:

Ontario Company Minute Book.
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The Ontario business corporation Act requires each company to keep a Corporate Minutes
Book at its head office. This book must contain the:

- articles
- bylaws
- minutes of directors and shareholders meetings and resolutions
- names and addresses of the directors,
- the date they started and the day they ceased their Directorship of the company
- details of the issue, allocation and transfer of shares as well as the names of the
shareholders

File an Annual Return Every Year
File now an annual report

This is not your tax return. This is your corporate Annual Return which provides up-to-date
information about your corporation. This information is then made available to the public
through our website. Investors, consumers, financial institutions and many others rely on
this information. You are required to file your Annual Return every year.

Report Any Change of Registered Office Address
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Your registered office address is the official address for communicating with your
corporation. You may provide a mailing address that is different from your registered office
address if you prefer that unofficial documentation be sent somewhere else. You are
required to report any change of registered office address.

Report Changes Regarding Directors
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The directors of your corporation have the power and the duty to manage the business and
affairs of the corporation. As a result, interested stakeholders have a right to know who the
current directors are and where they can be reached. You are required to report changes
regarding directors.

These changes include:

the election of a new director;
the resignation or removal of a director; and
any change in the residential address of a current director.
Empowering Entrepreneurs trough Entrepreneurship & Technology               www.e42canada.com

Keep Your Articles Up-to-Date (Filing Articles of Amendment )
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Your articles set out basic information about your corporation which is also made available to
the public through our website. You are required to amend your articles if you make changes
to this information.

These changes include:

changing your corporate name;
changing the province or territory in which your registered office is located;
changing the minimum or maximum number of directors;
adding restrictions on the transfer of shares;
modifying the restrictions on the business the corporation may carry on; and
many others.

Closing your corporation (Filing Articles of Dissolution)
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If your corporation is ceasing operations, is already is no longer in business, or was never
actively used, it must submit a filing called "articles of dissolution" with the government in
which your corporation was formed in order to formally dissolve your corporation or non-
profit corporation.

				
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Description: Keeping your Ontario corporation in good standing