In July 2023, Corporations Canada (CC) will begin administrative dissolutions of not-for-profit (NFP) corporations governed under the Canada Not-for-profit Corporations Act that have not filed their annual return (AR) for 3 years.
CC will send a Notice of Intent to Dissolve to NFPs in default of filing their ARs, and NFPs will have 120 days from the date of the notice to file the required ARs. CC will issue a Certificate of Dissolution to NFPs that do not respond by the deadline stated in the Notice of Intent to Dissolve.
Dissolution can have serious legal repercussions; for example, a dissolved corporation can no longer conduct activities, bank loans may be refused, and charities registered under the Income Tax Act may lose their registration as a charity.
Corporations Canada encourages all corporations to be well informed of their filing obligations in order to avoid potential dissolution.