Guide to the Ontario Business Registry
On October 19th, 2021, the Government of Ontario launched the Ontario Business Registry online service to provide businesses and not-for-profit...
View More
January 09, 2024
4 min read
Share
On October 19th, 2021, the Government of Ontario launched the Ontario Business Registry online service to provide businesses and not-for-profit corporations a 24/7 platform to use to update their registered business information.
Keeping your business information up to date
Previously, Ontario corporations were required to keep their business information up to date by filing the mandatory Annual Information Return together with their T2 Income Tax Return to the CRA.
After October 19th, 2021, the Annual Information Return must be filed separately from the T2 in the Ontario Business Registry. K&P recommends that you file your own information return directly using the registry, due to the simplicity of the filling and convenient 24/7 access to the online registry.
Additional services available in the Ontario Business Registry
The Ontario Business Registry offers additional services beyond filing the Annual Information Return. In the registry, you may also access a wide range of government services, including:
- Amending your business name
- Amalgamating your corporation with another corporation
- Dissolving your corporation
- Searching for the publicly available information of any other registered business in the Ontario Business Registry
It is the responsibility of the corporation to keep its information on the public record and beneficial ownership information accurate and up to date.
Filing dates for the Annual Information Return
Ordinarily, your Annual Information Return is due six months after your fiscal year-end. However, depending on your corporation’s year-end and the timing of your filing, your filing deadlines will vary.
|
Year-end Date |
Annual Information Return Due Date |
Filing Location |
|
January 1 – May 14, 2021 |
Required – Six months after year-end |
CRA, together with your T2 |
|
May 15 – October 18, 2021 |
Exempt – No Annual Information Return required for 2021 |
N/A |
|
October 19 2021 – Present |
Required – Six months after year-end |
Ontario Business Registry |
Accessing your profile in the Ontario Business Registry
If your corporation was registered or incorporated before the launch of the Ontario Business Registry on October 19th 2021, then the Ontario Ministry has already created your profile in the registry and migrated any business information you previously submitted to the CRA.
To access your profile in the Ontario Business Registry, please follow these two steps:
1. Acquire a Company Key – The confidential passcode for your corporation
To acquire a Company Key, follow this link to visit Service Ontario’s business search webpage.
On this webpage, enter your business name in the search bar and select your corporation. Then, provide your corporation’s contact information in the response fields and click “Submit”.
Your Company Key will be sent to the official email address provided in your previous Annual Information Returns. If you do not have an official email address, it will be mailed to your registered or head office address.
2. Sign up and log in to One-Key – The login portal for the Ontario Business Registry
Once you have received your Company Key, follow this link to visit Service Ontario’s login portal.
On this webpage, you are required to create a One-key account. Follow the prompts to create your account, and when instructed, enter your Company Key. Upon entering your Company Key, you will have full access to your profile in the Ontario Business Registry using this same webpage.
How K&P can assist you
The requirement to file the Annual Information Return with the Government of Ontario has become more onerous for the taxpayer. This will require registering for an account with the Ontario Business Registry as well as setting up annual reminders to ensure that you continue to maintain compliance for your corporation.
The K&P CPAs team provides expert assistance in all things finance, including business valuation and financial advisory.
If you have any questions, feel free to contact us for more information.
Recent Articles
Capital gains inclusion rate The capital gains inclusion rate will increase from 50% to 66.67% for capital gains realized on…
4 min read
22 April 2024
K&P CPAs, a boutique licensed public accounting and valuations firm based in Toronto, Canada, is pleased to announce its adoption…
2 min read
26 February 2024
Introduction Canada is currently experiencing a significant demographic shift that is reshaping the landscape of wealth distribution: the inter-generational transfer…
3 min read
6 February 2024
Introduction Clients often approach us inquiring about what a business valuation entails. Their interest stems from many situations that include:…
8 min read
6 February 2024
Introduction Business owners often benchmark their businesses against a rule of thumb to identify a preliminary valuation for their business….
4 min read
6 February 2024
Businesses must repay their CEBA loan by January 18, 2024, to be eligible for the forgivable portion of the loan….
3 min read
15 January 2024
Certain trusts, including bare trusts, that were previously not required to file a trust return, will be required to do…
4 min read
11 January 2024
Bare trusts will be required to file a T3 Return, and report beneficial ownership information on Schedule 15. The new…
5 min read
11 January 2024
The Minister of National Revenue has extended the deadline until April 30, 2024, for owners affected by the Underused Housing…
2 min read
2 November 2023
What is Toronto’s Vacant Home Tax (“VHT”)? The City of Toronto will levy Vacant Home Tax of 1% on unoccupied…
6 min read
12 October 2023
What is the Underused Housing Tax (“UHT”)? UHT is an annual federal 1% tax on the ownership of vacant or…
7 min read
2 October 2023
The complications resulting from the COVID-19 pandemic are evolving at a rapid pace. As new information becomes available, we will continue to adapt to how we manage our business.
2 min read
9 December 2020