INITIAL INFORMATION RETURN

Contact Neufeld Legal PC for your incorporation legal work at 403-400-4092 / 905-616-8864 or Chris@NeufeldLegal.com

An Initial Information Return is a mandatory, one-time governmental filing for newly incorporated companies, that is mandated in certain jurisdictions (i.e., federal, Ontario), but not in other jurisdictions (i.e., Alberta). The primary purpose of the Initial Return is for the corporation to formally confirm and update its statutory information with the government registry shortly after incorporation. It ensures the government has accurate and complete details about the new entity.

While the exact details can vary slightly by jurisdiction, an Initial Return generally requires the corporation to provide or confirm the following information:

• Corporate Details: The legal name, incorporation date, and corporation number.

• Office Address: The registered office address (and often a separate mailing address).

• Directors' Information: The full names and addresses for service of all corporate directors, as well as the date they became a director.

• Officers' Information: The names, titles (e.g., President, Secretary, CEO), and addresses of the corporation's most senior officers.

• Business Activity: A code that identifies the corporation's primary business activity (e.g., the North American Industry Classification System, or NAICS, code).

• Verification: The name and address of the individual (usually an officer or director) who is verifying that the submitted information is true and complete.

The Initial Return is a critical first step in post-incorporation compliance for several reasons:

1. Legal Compliance and Good Standing

It is a mandatory legal requirement. In jurisdictions like Ontario, corporations are typically required to file this return within a specific time frame, often 60 days of incorporation. Failure to file can result in penalties, fines, or even the involuntary dissolution (cancellation) of the corporation, causing it to lose its legal status and ability to operate.

2. Public Record Accuracy

The filing updates the public corporate registry. This ensures that the public record—which is consulted by investors, partners, clients, and consumers—has the most accurate and up-to-date information, such as the names of the directors and the corporation's official address. This promotes transparency and accountability.

3. Government Communication

It ensures that the government has the correct contact information, including the official email address, to communicate with the corporation about compliance matters and other official notices.

So if you are looking to incorporate a new corporation or deal with the corporate legalities impacting your company, contact us at 403-400-4092 [Alberta], 905-616-8864 [Ontario] or via email at Chris@NeufeldLegal.com.