Corporations must now use the new Ontario Business Registry to file their annual information returns, as the province's temporary filing exemption has expired. Businesses must file their annual information returns due on October 19, 2021 or later by their respective deadlines (six months after year-end) using this new system. Previously, corporations were granted a temporary exemption from filing these returns due on or after May 15, 2021, following the CRA and Service Ontario's announcement that these returns would no longer be accepted by the CRA.
Ontario launched the new registry on October 19, 2021.
Background
The CRA and Service Ontario announced changes to the Ontario Corporations Information Act annual return process in May 2021. Under these changes:
- Annual return forms are no longer available for download from the CRA website
- Annual returns are no longer filed with the CRA as of May 15, 2021.
The changes apply to the following forms:
- Schedule 546, Corporations Information Act Annual Return for Ontario Corporations
- Schedule 548, Corporations Information Act Annual Return for Foreign Business Corporations
- Form RC232, Corporations Information Act Annual Return for Ontario Not-for-Profit Corporations.
Following this announcement, corporations were temporarily exempt from filing their annual returns due on or after May 15, 2021 until further notice.
Filing the annual information return
A corporation that wants to file their annual return directly, must register with the new Ontario Business Registry, by providing an official email address. The corporation should then receive a corporate access key via regular mail delivered to the registered office address on file.
A corporation can instead engage a registered intermediary such as KPMG Law to complete these and other required corporate filings, in which case the corporation will not have to register with the new Ontario Business Registry.
For more information, contact your KPMG adviser.
Information is current to October 25, 2021. The information contained in this publication is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act upon such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's National Tax Centre at 416.777.8500
