Certain corporations are temporarily exempt from filing certain Ontario Annual Information returns until further notice. This relief follows the CRA and Service Ontario's earlier announcement that corporations can no longer file these returns with the CRA. This temporary exemption applies to corporations that have an annual information return due on or after May 15, 2021 and before the temporary exemption expires.

Background

The CRA and Service Ontario previously announced changes to the Ontario Corporations Information Act annual return process. Under these changes:

  • Annual return forms are no longer available for download from the CRA website (as of May 7, 2021)
  • 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.

Ontario's new business registry

Service Ontario says that affected corporations can pre-register online for Ontario's new business registry to receive future updates on filing their annual information returns under the new system and the expiry of the temporary exemption, once this information is available. To pre-register, corporations must provide their Ontario Corporation Number or Business Identification Number and the official email address associated with the registered business or entity. Intermediaries may not register on behalf of corporations.

Filing the annual information return

Certain intermediaries (including KPMG Law) can currently file annual information returns for corporations that were due prior to the exemption period without requiring the corporation to register and set up an account under the new business registry. In addition, we expect that intermediaries will continue to be able to file annual information returns under the new system without requiring corporations to set up a new business registry account.

For more information, contact your KPMG advisor.

Information is current to June 1, 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