Annual Corporate Return and Resolutions

[warriorboy10]

I've been advised that a corporate registry can deal with the annual return at a far less cost, especially for small corps vs corporate lawyer.

Lawyer fee for corporate return has been approx. $300.00 annually, cost with Corporate Registry is $80.00.

Anyone have experience doing the Annual Return etc. on your own through a registry vs lawyers office?

I understand the value of having the return completed correctly but there isn't much remaining. Is it worth it?

Thanks,

[2 Tollers]

I think there was a cost of about $30.00 to switch to have the notifications sent by Corporate Registry directly to me.

I made the switch and do this now --- there is no fuss, simple questions if anything on your corporate registration has changed with shareholders, address etc.

[MountainTi]

I do mine every year in either Sundre or Caroline at registries for $80. Cheap and easy. Doesn't take much longer than renewing registration on your vehicle

[Sitting Bull]

I do mine at AMA. Did the lawyer thing in my first year, then said the hell with that. Been doing it at registries and AMA for years.

[tirebob]

Yep super easy... I do mine every year at the registry. You just confirm if there have been any shareholder changes or not, address changes etc and submit... Done.

[Cement Bench]

yes the second year and later are easy if no changes

[Drewski Canuck]

Perhaps you have to understand exactly what the Annual Meeting of Shareholders and Directors really do. That is what the Corporate Solicitor is actually doing for you when the Annual Return is prepared and filed.

If Dividends are being declared by the Corporate Accountant, are the Dividends eligible or non eligible, and do you even know what I'm talking about?

If Canada Revenue Agency does an audit, and looks at the documentation in your Shareholders and Directors Annual Meeting Minutes for the years of Dividend Declaration, what happens when you have nothing?

Annual Returns for a Corporation at $300 is pretty cheap. It is the Record Office for service of any Statement of Claim on the Corporation as well as any Government Notices under numerous pieces of legislation. Is that worth having a Lawyer handle the Annual Returns and preparation of the necessary Corporate Meeting Minutes?

Drewski