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Obtaining an Ontario Certificate of Status
Ontario Certificates of Status are issued by the Ontario Ministry of Government Services for Ontario companies. Sometimes these are called Certificates of Good Standing or Certificates of Compliance and all companies registered in all jurisdictions in Canada and for that matter all companies registered in any country can obtain these certificates when needed. They are called Certificates of Status in Ontario.
Certificates of Status are issued when you need to provide some institution or person with confirmation that your Ontario company is in good standing and is up-to-date in its filings.
If you obtain an Ontario Certificate of Status it will show the following: (a) the current name of the corporation; (b) the number assigned to the corporation by the government called the Ontario Corporation Number; and (b) whether or not the corporation is in good standing.
Ontario companies must file federal tax returns each year and if those returns are not filed for many years the federal government will eventually dissolve the company. If a company has been dissolved it will not be able to receive a clear Certificate of Status.
Your Ontario corporation will be dissolved by the Ministry of Government Services if the annual returns are not filed. If you wish to order a Certificate of Status then you must ensure the annual returns are up-to-date or you will not receive a Certificate indicating the corporation is in good standing.
The government does not refund the money if a clear Certificate of Status cannot be issued. Basically it will issue a Certificate of Status that indicates the Ontario company is not in compliance and you will then need to file any outstanding returns and order a new Certificate of Status. A Certificate of Status is not cheap so if you know in advance you have not made your filings you should at the least ensure all Ontario annual returns are filed before ordering your Certificate of Status. If you have some outstanding tax returns but have not been dissolved then you will still receive a favourable Certificate of Status as long as your Ontario annual returns have been filed with the Ontario Companies Branch.
A Certificate of Status is not an Ontario corporate search. If you are trying to determine information about an Ontario company you should have an Ontario Corporate Profile search done rather than ordering a Certificate of Status.
When do you need to obtain a Certificate of Status? Well, if the company is entering into an agreement with another company or individual that company or individual might want to know if the company is in good standing. Sometimes banks or law firms might wish to order a Certificate of Status on a company in cases where property is being sold or for many other reasons. Any company might be asked to provide confirmation to someone or some institution that it is in good standing and a Certificate of Status will be requested.
Resources for Canadian Business Owners provides information about Certificates of Compliance and other legal products including Ontario Company Searches.. Unique version for reprint here: Obtaining an Ontario Certificate of Status.
categories: Legal,Law,legal advice,business,business services,advice,self-help,training,small business,customer service,entrepreneurs
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