As every financial year ends, all businesses can do their annual return filing.
Small and large businesses must follow the same strategy. As many smaller businesses avoid this step entirely, it is not advisable as it leads to heavy fines from the Registrar and may even result in the blacklisting of the company’s directors.
A corporate annual return is an obligation by all companies to file certain documentation with the government. The requirements for annual returns can vary from jurisdiction to jurisdiction but generally they seek to confirm information about a legal entity such as:
The Directors
The corporation’s status (i.e. whether it is still active or not)
The registered address of the corporation
An annual return can be generated manually with the help of a precedent document and then it gets filed with the government using an online service or it can be automated with the help of cloud entity management software. A legal professional is managing hundreds or thousands of corporations on behalf of their employer or for a law firm on behalf of clients.
Your annual return notifies the applicable government authority that your company is still operating and details any changes you’ve made, such as address or board of directors. Federal or provincial, big or small, every corporation has the legal obligation to file. If you do not file your annual return in Alberta on time, your corporation may be dissolved.
Lawnch has come up with the best packages with the annual business needs. They help streamline corporate maintenance for business owners so they can focus on their passion. They also help you maintain your corporate minute book and submit your annual corporate returns and prepare annual resolutions for you. Plus, they can help you with any additional requirements you may have, such as changes in the business name, amendments to corporate documents, and everything in between.
For more information visit us on https://lawnch.ca/services/corporate-maintenance/