Annual Corporate Maintenance Requirements

Once you’ve registered your corporation, several steps are required to keep it in good standing:

• Filing a corporate annual return with the appropriate corporate registry
• Filing notices regarding any changes of shareholders and directors
• Preparing annual shareholder resolutions as required by law
• Preparing director resolutions as required by law
• Making updates to the corporation’s minute book
• Filing a corporate tax return each year

Consequences of Failing to Maintain

Failing to take these steps can lead to:

• Penalties
• Having the corporation struck from the corporate register (meaning it no longer exists as a legal entity)
• Corporate assets legally becoming property of the government

Restoring a struck corporation is expensive and not always possible.

Because of these serious repercussions, many business owners choose to hire a law firm to act as their registered office and records address, and to handle ongoing maintenance. Learn more about our corporate maintenance services.