Annual Filing - are you up to date with Big Brother?

You are a starter. You have incorporated your company and you are working away creating good stuff. You are enjoying the entrepreneurial buzz. The adrenaline is rushing. The stress is there but it is the motivational kind. You are well past your first year of incorporation humming along.

Now that you have past the first year, this is an important time for your company. It is not a romantic time but it is a time nonetheless that you must go through. Is your Annual Filing information with the government up to date?

Yes, you must keep your information up to date with the government. In Canada, you can review the status of your company by visiting Corporations Canada website (http://www.ic.gc.ca/eic/site/ic1.nsf/eng/h_00000.html) and select "Search for a Federal Corporations". Type in your Company Name or Corporation Number and voila, you arrive at your baby. From this page, you can view the pertinent information.

The key piece that you are looking for is "Status of Annual Filings" This should be updated for the year you just finished. If it is, you are a Starter that is on the ball. If it is not, go to Corp Canada's Online Filing Centre and locate "File Annual Return". Input your company info and proceed through the steps. For a cheap $20, you can complete this in the comfort of your own space with no middlemen (can we say Canada Post). The result...a headache free and fast way to ensure you are up to date with Big Brother.

Big Brother is actually a very nice and helpful one for us Canadians. The online filing centre is so helpful that any person can go through it. As you are a starter, this will be no problem for you. Just have the discipline to do this yearly.