Businesses evolve — but government records need to evolve too. Many Ontario entrepreneurs forget to update corporate records after key changes, which can create major legal and administrative headaches later.
1. Notice of Change
If your corporation’s address, directors, officers, or language preference changes, you must file a Notice of Change within 15 days with the Ministry of Public and Business Service Delivery (Ontario) or Corporations Canada (federal).
These updates usually require a directors’ resolution as well — another reason to stay organized.
2. Business or Trade Name Renewal
If your corporation operates under a registered business name (a “trade name”), it must be renewed every 5 years in Ontario.
Letting it expire can:
Lead to fines of up to $25,000
Allow another business to register the same name
Trigger costly trademark or branding disputes
💡 Pro Tip: Add your business name renewal date to your corporate calendar or trust your lawyer’s office to monitor renewal deadlines for you.
3. HST Number and Registration
If your corporation earns $30,000 or more in total revenue, you must register for a HST number. Failure to do so can result in CRA penalties and interest on unremitted taxes.
A business lawyer or accountant can help determine when HST registration is required — especially if you have multiple corporations or operate across provinces.
📘 Keep your corporate records clean — consistent updates prevent bigger issues when financing, selling, or bringing on new shareholders.
Call us today at 343-888-8913 so we can assist you in staying compliant
