Once you have registered your business there are many legal obligations that never end. To operate your business successfully you must file an annual return every single year. The deadline of filing differs from one province or territory to another. However the annual return is a legal document that has pivotal information regarding business activities and the financial position. Every business in Alberta whether private or federal, needs to follow specific rules and regulations while operating their business and annual return is one of them. If you submit the annual return properly, it will help your investors, consumers and other organizations to evaluate your business and make essential decisions related to your company.

What Are The Consequences of Not Filing Annual Returns On Time?
Annual return of a company must be filled on time else it will be considered as a big offense. The directors of the company must assure that their company complies with all the rules and regulations. If annual return is not paid on time then a good amount will be charged as a penalty. Not only that, a corporation may get dissolved if it fails to file the return within the definite time period. The law will allow the provincial registry to dissolve the company after one year of non-filing the return. A notice will be sent as a warning for the pending amount as well as the deadline for the required amount. If the filling is still not done, be prepared for the worst consequences. After dissolution the company will no longer have any legal authority to conduct the business. Hence, give priority to your annual return and file it with the help of a lawyer.

Why Hire a Lawyer?
Many organizations hire lawyers to file annual returns for their corporation. Filing will not be as easy as it seems to be. Lots of rules and regulations are there to be followed while filing annual returns and committing a mistake will make things more complicated. You should hire a lawyer who will do the complex part of the job and give you reminders on time. There will be no chance of forgetting to pay the annual return. Professional lawyers will help you file an annual return online which is less time consuming. To get in touch with them, search with appropriate keywords like annual return for corporations online.

Hiring a lawyer for a corporation's annual return will not just be an extra expense but extremely beneficial.

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