On April 1, 2020, the Government of Canada announced that it is extending the deadline for filing annual returns for federal corporations. Annual returns that are typically due between February 1, 2020 and June 30, 2020 can now be filed up until September 30, 2020. Under normal circumstances, corporations must file their annual return within 60 days of their anniversary date. The notice from Corporations Canada can be found here.

The far bigger issue that we are still waiting on is whether there will be a simplified procedure for the extension of the six-month timeframe for holding AGMs and also a requirement to provide financial statements to members at least 21 days ahead of the AGM.  These are separate requirements and right now it is cumbersome and costly to make 2 applications.

Also a reminder that the annual return (form 4022) is only one of many filing requirements with Corporations Canada.  For example, if you are a soliciting corporation you need to file financial statements every year (even if you are a registered charity and file the financial statements with CRA).  If you change your address or directors you also need to file with Corporations Canada.

Also here is the full text of the notice from Corporations Canada:

Corporations Canada extends annual return deadlines to September 30 for federal corporations during the COVID-19 outbreak

By law, every federally incorporated business, not-for-profit organization and cooperative has to file an annual return with Corporations Canada each year to remain active and comply with corporate statute requirements. Annual returns also ensure information in the public database of federal corporations is up to date so investors, consumers, and other stakeholders can make informed decisions about Canadian corporations.

In light of the COVID-19 outbreak, Corporations Canada is extending the annual return filing periods for federally incorporated businesses, not-for-profit organizations and cooperatives whose annual returns are normally due during this time.

New annual return deadlines

Federally incorporated businesses, not-for-profit organizations and cooperatives whose anniversary date is between February 1 and June 30 now have until September 30, 2020 to file their annual return. Normally, corporations are required to file their annual return within 60 days of their anniversary date.

For Special Act corporations (subject to Part 19 of the Canada Not-for-profit Corporations Act), the annual return filing period is now from April 1 to September 30, 2020. This extends the normal filing period (April 1 to June 1) by three months. A Special Act corporation is a corporation created by a Special Act of Parliament that does not have any share capital (funds raised in exchange for shares).

Quickest way to file annual returns

Businesses and not-for-profit corporations:
file online using Corporations Canada’s Online Filing Centre.
Cooperatives:
download Form 3022 online and submit by email to IC.corporationscanada.IC@canada.ca.
Special Act corporations:
download Form 4033 online and submit by email to IC.corporationscanada.IC@canada.ca.

If you have any questions, please contact us.

COVID-19 outbreak resources

Resources for Canadian business: COVID-19