Corporations Information Act (Ontario): Corporate Annual Return Filing Changes

  • May 27, 2021
  • Kimberley A. Cunnington-Taylor, B. Soc. Sc., LL.B.

If you are a business, not-for-profit, or charitable corporation incorporated in Ontario, or a foreign business corporation required to report Ontario income taxes, then you are required to file a corporate annual return under the rules of the Corporations Information Act (Ontario).

For over 20 years Canada Revenue Agency has collected the information required in the corporate annual return on behalf of the Ontario Ministry of Government and Consumer Services (the "Ontario Ministry") and forwarded that information to the Ontario Ministry for processing (for Ontario business and not-for-profit corporations through Schedule 546, for foreign business corporations through Schedule 547, and for Ontario charities, through Form RC232).

The situation has now changed. Ontario business and not-for-profit corporations, foreign business corporations and Ontario charities still have to file their Ontario corporate annual returns. But now, these corporate annual returns must be filed directly with the Ontario Ministry. The Canada Revenue Agency stopped collecting this annual return information as of May 15, 2021 and the schedules or form, as applicable, are no longer available for download on Canada Revenue Agency’s website.

On May 6, 2021, the Ontario government enacted Ontario Regulation 335/21 , amending Regulation 182 of R.R.O. 1990 (the general regulations of the Corporations Information Act (Ontario). This amending regulation does a few things, but most importantly, in my view: