Have you ever received an annual filing notice reminder via email from Corporations Canada? If you have a federally incorporated company, you should definitely receive this at least once a year. But, frequently we get questions from our clients about this annual filing email or letter. Often, people wonder, “Hey, I thought you guys had already filed my taxes…why am I getting a reminder notice?”
When you get one of these emails or letters, please don’t panic.
This is actually a reminder to do an annual minute book update for the federal government when you have a federally incorporated company, not a reminder about a tax return. It is important to complete this annual filing, as the company could be dissolved if you don’t, but it’s fairly straightforward. Corporations Canada requires you to go onto their web site, fill out a bit of information about the company, and pay them $20 on your credit card. Then, you are supposed to sign the annual update they provide and put it in your minute book (or in our case, we PDF it and save it online in our online filing system).
Once you’ve done this, you are OK until the next year, when you’ll receive another reminder.
Special Note: If you receive an email from Corporations Canada, this is likely perfectly valid. However, if you receive emails from anyone claiming to be with the Canada Revenue Agency, these are absolutely false. Canada Revenue Agency only communicates via letter, fax, or via their web site (to find out more, check out our blog post on getting your online CRA account set up.)