What You Need to Know for Filing Your Business’ Annual Return in Alberta

Filing your business’s annual return is an essential part of maintaining good standing in Alberta. Whether you operate a corporation, cooperative, or non-profit organization, understanding the requirements and processes for filing your annual return can save you time, money, and potential legal issues down the road. In this blog, we’ll explore everything you need to know about annual returns, including reasons for filing one and how to proceed.

What Are Annual Returns?

An annual return is a mandatory filing that provides the Alberta government with updated information about your business. This document typically includes details such as your business's registered address, the names and addresses of directors or officers, and any changes in the business structure. While the specifics may vary depending on whether you are a corporation, cooperative, or non-profit organization, the core purpose remains the same: to ensure that the government has accurate and current information about your entity.

Who Needs to File an Annual Return in Alberta

In Alberta, the requirement to file an annual return applies to various types of business entities. These include:

• Corporations: All incorporated businesses, including private and public corporations, must file an annual return to maintain their legal status.

• Cooperatives: Cooperatives registered under the Alberta Cooperatives Act are also required to submit an annual return.

• Non-Profit Organizations: Non-profit entities that are incorporated must file an annual return to keep their registration active.

• Extra-Provincial Corporations: Corporations from other provinces or territories operating in Alberta must file an annual return to comply with local regulations.

Why Incorporated Companies Need to File an Annual Return

Filing an annual return is mandatory for incorporated companies, and it serves important purposes:

• Legal Compliance: Failing to file your annual return for two consecutive years may result in severe penalties for your business. Your company may be struck from the registry, which means losing its legal status. This can make it very difficult for you to sign contracts or operate legally. Staying compliant helps you avoid these legal repercussions.

• Maintaining Good Standing: Your business must remain in good standing to conduct operations, secure financing, and enter contracts. An up-to-date annual return is a key component of this status.

• Transparency: Annual returns promote transparency and accountability. They ensure that stakeholders, including investors and the public, have access to pertinent information about your organization.

• Updating Information: If there have been any changes in your business structure, such as new directors or a change of address, the annual return is the perfect opportunity to update this information.

How to File Your Annual Return

To file your annual return, you must go through an authorized registry service provider. It can be done online, in person or by mail. Here is what you will need to do:

1. Gather Required Information: Before you begin the filing process, collect all necessary information, including your business number, the names and addresses of current directors or board members, and any changes in your business structure.

2. Complete the Form: Fill out the annual return form with the required information. Ensure that all details are accurate to avoid delays or rejections.

3. Pay the Filing Fee: There is typically a government fee and a service fee associated with submitting your annual return.

4. Submit Your Return: Once you’ve completed the form and payment, submit your annual return. You will receive a confirmation once your filing has been processed.

Remember, the deadline for filing your annual return is typically within a specific timeframe after your fiscal year-end. Mark your calendar to avoid missing this critical deadline.

Stay Compliant with Ease

Filing your annual return is a vital responsibility for all corporations, cooperatives, and non-profit organizations in Alberta. If you need assistance with filing your annual return or have questions about your business requirements, contact Registry @ South Trail Crossing Ltd. today. We’re here to help you navigate the complexities of business compliance in Alberta. Reach out to us!