What is an Initial Return for a Corporation and How to File It

If you’ve recently registered your corporation, whether federally or provincially (in Ontario), one of the first things you’ll need to do is file an Initial Return. This filing ensures that your corporation's information is up-to-date with the appropriate government authorities. Here’s a step-by-step guide on what the Initial Return is and how to file it depending on whether your corporation is federally incorporated or incorporated in Ontario.

What is an Initial Return?

An Initial Return is a mandatory filing required for corporations to provide their key information to the government shortly after incorporation. It includes details such as:

• The corporation's name
• The registered office address
• The names and addresses of the directors
• Information about officers, if applicable

This ensures that government records are accurate and up-to-date, which is crucial for legal compliance and proper communication.

Filing an Initial Return for a Federal Corporation

If your corporation is registered federally in Canada, you must file your Initial Return under the Canada Business Corporations Act (CBCA). The return must be filed within 60 days after incorporation.

Steps to File a Federal Initial Return:

1. Login to Corporations Canada Online Filing Centre:
   • Visit the Corporation Canada website and log in to your account.
2. Select “File Initial Return”:
   • Once logged in, select "File Initial Return" from the list of services.
3. Complete the Information:
   • Fill in the required fields, including your corporation's registered office address and directors’ details.
4. Submit the Return:
   • After confirming the information, submit the Initial Return. There is no filing fee for federal corporations.
5. Confirmation:
   • You will receive confirmation once the filing is complete. It is important to keep a copy of this confirmation for your records.

Filing an Initial Return for an Ontario Corporation

If your corporation is registered in Ontario, you must file your Initial Return under the Ontario Corporations Information Act. Similar to the federal requirement, this filing must also be submitted within 60 days of incorporation.

Steps to File an Ontario Initial Return:

1. Login to ServiceOntario Online Portal:
   • Visit the ServiceOntario website for Business Services and sign into your account in 'Create or use your My Ontario Account'
2. Select “Initial Return/Notice of Change”:
   • Look for the “Initial Return” or “Notice of Change” service, which allows you to file key corporate information.
3. Complete the Information:
   • Provide all the necessary information, such as your registered office address and directors’ details.
4. Submit the Return:
   • After completing the form, submit your Initial Return. There is usually no fee for this filing.
5. Confirmation:
   • You will receive a confirmation notice once the return is successfully filed. Keep a copy of this confirmation for your records.

Penalties for Not Filing:

Failing to file an Initial Return within the required 60-day period can result in penalties and compliance issues. Make sure to file promptly to avoid these problems.

Filing an Initial Return is a crucial first step in maintaining your corporation’s legal status, whether you’ve registered federally or in Ontario. The process is straightforward, and it ensures that the government has the correct information for your business. Stay compliant by filing on time!