Many Ontario business owners incorporate their company and then stall on the next steps — registering with the CRA, setting up proper accounts, and getting compliant before doing any business. This guide walks through every CRA account you need after incorporation, in the right order, so you start on solid footing.
Step 1: Obtain Your Business Number
When you incorporate an Ontario corporation, the Ontario Business Registry automatically notifies the CRA, which assigns a Business Number (BN) to your corporation. Your BN is a 9-digit number that identifies your corporation with the federal government for all tax purposes.
- BN is automatically assigned after provincial incorporation — usually within 1–5 business days
- Format: 123456789 (9 digits)
- Each program account adds a 2-letter code and 4-digit reference: e.g., 123456789 RC0001 (corporate tax)
- You need the BN to register for all other CRA program accounts
Step 2: Register for a Corporate Tax Account (RC)
Your corporation's income tax account is an RC account. This is where your annual T2 corporate tax returns are filed. The account is typically created automatically when the CRA assigns your BN after incorporation.
- Program account: 123456789 RC0001
- T2 corporate income tax return due: 6 months after corporate fiscal year-end
- Corporate tax installments: due monthly for corporations owing more than $3,000 in tax
- Set up CRA My Business Account to view your RC account online
Step 3: Register for HST (RT Account)
If your corporation will be making taxable supplies of goods or services, you must register for HST once revenues exceed $30,000 — or you can register voluntarily from day one (recommended for most businesses).
- Register online through CRA Business Registration Online (BRO)
- Program account: 123456789 RT0001
- Effective date: typically the date of incorporation or the date you start generating revenue
- Choose your reporting period: annual (under $1.5M), quarterly, or monthly
Voluntary registration tip: Register from day one if you will have startup expenses with HST. You can claim input tax credits on your first HST return for HST paid on incorporation fees, equipment, software, and other pre-revenue expenses.
Step 4: Register for a Payroll Account (RP) — If You Have Employees
If your corporation will be paying salaries — including to yourself as the incorporated owner — you need a payroll account before the first payroll is processed.
- Program account: 123456789 RP0001
- Required before your first payroll
- Used to remit CPP, EI, and income tax withholdings to CRA
- Remittance frequency assigned by CRA based on your average monthly withholding
Owner salary: Even if you are the only person in the corporation, taking a salary requires a payroll account. Many incorporated owners pay themselves dividends only (no payroll account needed) or a combination of salary and dividends.
Step 5: Set Up CRA My Business Account
CRA My Business Account is the online portal where you manage all your corporate tax accounts, file returns, view correspondence, and communicate with the CRA. Setting this up early is essential.
- Register at canada.ca/my-cra-business-account
- Use your BN and a CRA security code (mailed to your registered address)
- Link all program accounts (RC, RT, RP) under your My Business Account
- Set up direct deposit for HST refunds
- Review all CRA mail online — paper notices may still be sent to your registered address
Authorize your CRA representative: If you work with a CPA, authorize them as your representative in My Business Account so they can file and communicate with CRA on your behalf. This is done through the "Manage Authorized Representatives" function.
Key Takeaways
Post-incorporation CRA setup takes a few hours but is foundational to your corporation's compliance. The most common mistakes are registering for HST too late (missing startup ITCs) and setting up payroll after the first payroll has already been processed. Do this setup before your first transaction — not after.
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