Canada Corporation

Info

REV: 2020-12-15

Registration

In Canada, federal corporations are registered with Corporations Canada.

Before registration, the prospective name of a new federal corporation must be verified with a NUANS corporate name search report.

Registration (incorporation) always occurs under a specific corporate legislation. Canada offers 2 main corporate legislations:

The CNCA is similar to the CBCA and only differs in 2 major ways:

All CNCA companies are non-stock corporations. Instead of shareholders, they have directors, officers, and members.
All CNCA companies must prepare financial-statements/audits by a certified public accountant if the company exceeds legally-specified thresholds.

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Federal incorporation may require extraprovincial registrations (ex. with Ontario for businesses operating in Ontario).

Note: The federal corporation number (ID with Corporations Canada) is different from the federal business number (ID with Canada Revenue Agency).

Annually, a federal corporation must file a corporate return with Corporations Canada.

Annually, a federal corporation must prepare financial statements (balance sheet, income statement) then file a corporate tax return with the Canada Revenue Agency.

Annually, a federal corporation must file a HST return with the CRA.

Annually or quarterly (variable), a federal corporation must file payroll deductions with the CRA.