If your company was incorporated pursuant to the province of British Columbia under the Business Corporations Act (British Columbia), you will be required to file a BC Annual Report.Buy Now
When Should an BC Annual Report be Filed
A BC company must file an annual report each year within two months after each anniversary of the date on which the company was recognized. A recognition date is the company’s date of incorporation, amalgamation or continuance in the province, as the case may be. Therefore if the date of incorporation was July 7, 2008 then the Annual Report will be due within 2 months of of July 7th in each year.
What is the Consequence of Not Filing A BC Annual Report for Your BC Company
All companies incorporated in Canada are at risk of having their company dissolved for non-filing of annual returns within 2 to 3 years of being in default. Then you have to revive your company and this can be expensive. You will be expected to pay in some cases as much as if you were incorporating the company (if you can remember that fee) and as well will be expected to pay for all or at least two years of the outstanding fees for the annual returns that you did not file. Each Canadian jurisdiction has a different policy but generally it is a great deal of trouble and extra expense to have to revive your company and may involve you hiring a solicitor to assist you.
Are There Any Special Requirements to Consider When filing the BC Annual Report for British Columbia Companies
If you have had a change in the registered office address of your company, which is the address on the forms you filed upon incorporation, then you will also be required to file with the annual return of information , a Form 2 – Notice of Change of Address. If the registered office address of your company is incorrect on the BC Registry Services’ records then you will miss out on receiving important communications from the BC Registry Services and if your company is going to be dissolved for non-filing of tax returns or annual returns you will not know this and the dissolution will take place without you knowledge. Then you are looking at some nice legal fees to get the company revived. it is very important that the BC Registry Services knows how to reach you. Further, periodically the British Columbia government modifies the filing requirements for companies and it is important that you are kept up-to-date with this information.
If any of the directors have changed their address or if any of the directors of the company themselves have resigned or new directors have been appointed and you have not yet informed the BC Registry Services, then a Form 10 – Notice of Change of Directors must be filed along with the BC Annual Report.