Annual Filing Requirements for Ontario Corporations: What You Must Do Every Year

When you incorporate in Ontario, you take on a set of recurring obligations that continue for the life of the corporation. These are not optional — they are legal requirements under the Ontario Business Corporations Act, the Income Tax Act, and the Excise Tax Act. This guide covers every major annual filing your Ontario corporation must complete and the consequences of missing them.

1. T2 Corporate Income Tax Return

Every Ontario corporation must file a T2 corporate income tax return every year — even if the corporation had no income, no activity, or is dormant. There are no exceptions.

• Due date: 6 months after the corporation's fiscal year-end
• Tax owing is due: 2 months after year-end (3 months for CCPCs with income under $500,000)
• Penalty for late filing: 5% of unpaid tax + 1% per month (max 12 months)
• Corporations with no activity: file a "nil return" — T2 with nil income

2. Ontario Annual Return

Every Ontario corporation must file an Ontario Annual Return with the provincial government to confirm that the corporation is still active and to update its registered information. This is separate from the CRA T2 return.

• Filed with: Ontario Business Registry (not CRA)
• Due date: within 6 months of the corporation's fiscal year-end
• Filing fee: $12.50 for online filing
• Required information: registered office address, director information, officer names

3. HST Returns

If your corporation is registered for HST, you must file HST returns on schedule — annually, quarterly, or monthly depending on your assigned filing frequency.

• Annual filers: one return per year, due 3 months after fiscal year-end (June 15 if December 31 year-end)
• Balance owing: due with the return
• Penalty: 1% per month compounding on late-filed returns with a balance owing
• Even nil returns must be filed if you are registered

4. T4 Payroll Slips (If You Have Employees or Pay Salary)

If your corporation paid salary to anyone — including yourself as the incorporated owner — during the calendar year, T4 slips must be issued to each recipient and filed with the CRA.

• T4 filing deadline: last day of February of the following year
• Must issue T4 to employee and file T4 Summary with CRA simultaneously
• Electronic filing required if filing 6 or more slips
• T4A required for contractors paid $500+ in the year

5. T5 Dividend Slips (If You Pay Dividends)

If your corporation paid dividends to shareholders during the year, T5 investment income slips must be issued to each shareholder and filed with the CRA.

• T5 filing deadline: last day of February of the following year
• Required for dividends paid — even to the sole shareholder-owner
• Include gross dividend amount and grossed-up amount on T5
• File T5 Summary with individual T5 slips

6. Minute Book Update

While not a government filing requirement, updating your minute book annually is a legal obligation under the OBCA. Your corporate records must be kept current at all times and available for inspection.

• Annual meeting minutes: elect directors, appoint officers, approve financial statements
• Dividend declarations: board resolution required for each dividend payment
• Any significant corporate changes: new directors, officer changes, share transfers
• Must be available for shareholder inspection on request

Key Takeaways

Ontario corporations carry more administrative overhead than sole proprietorships — but all of these obligations are manageable with the right systems. A CPA who handles your corporate year-end will typically file the T2, prepare your T4s and T5s, and update your minutes as part of an integrated annual package. The goal is to never miss a deadline.