Meeting Alberta Annual Corporate Filing Requirements
In order to keep Alberta companies in good standing, you must complete annual corporate filings. Annual corporate filings are filed with the Alberta government and updates the corporations key information with the government. These are also called annual corporate returns. Corporate filings are different, and in addition to, corporate tax returns. Under the Business Corporations Act a company can be struck if it fails to complete these mandatory filings. For assistance, call the corporate lawyers at Kahane Law Office. Not only can we complete your annual returns, but we can be the registered office of your corporation to make sure that all annual requirements are met. Call for help or details 403-225-8810.
What Information Is Included In Annual Corporate Filings
The annual corporate filings (or corporate returns) are about maintaining and updating the Alberta governments records on the company. The key information in the annual filings are a matter of public record and are accessible through the Alberta government. Please note that some information updates cannot wait until the annual corporate filings. Call to see if you need to file an update immediately. For example, a change in the registered corporate office must be filed within 15 days. The annual corporate filings will include updates (or confirming no changes) to:
- the address of the corporation
- changes in the corporation’s directors
- changes in the corporation’s shareholders
- changes in the shareholder(s)’s percentage holdings
- changes in address for shareholders and directors
What Happens If you Fail to Complete Your Annual Corporate Filings
Alberta law on annual corporate filings is determined by legislation. It is basically a “three strikes and you are out” rule. The government will give you warnings and notices that your corporation is not in good standings. After three years, your corporation may be struck from the corporate registry. This process is also known as the corporation being dissolved. This means that your company ceases to exist. It is no longer a legal entity in Alberta. Failure to complete your annual corporate filings means that you may lose the benefits of incorporating. These benefits include:
- tax advantages
- liability protection
- the ability to be recognized by the court
- the ability for the company to contract
- the ability of the company to own land
When Are Annual Corporate Filings / Returns Due?
You are not required to file an annual return on the year that you incorporated. You then must file your annual corporate filings by the end of the month that your incorporated. Of course you may file your annual return prior to the absolute filing date. If you fail to file on time, it is important to get your return is as soon as possible.
Alberta Lawyers For Filing Your Annual Corporate Returns
The corporate lawyers at Kahane Law Office enjoy helping business owners. With legal, practical and personal experience with owing corporations, we are pleased to file your annual corporate returns. Keep your corporation in good standing. We are reachable at 403-225-8810 locally in Calgary, Alberta or toll-free at 1-877-225-8817 or email us directly here.