Last Chance to Transition Under the Canada NPO Corporations Act!

The former Corporations Canada, now known as Innovation, Science and Economic Development Canada, has announced that all federally incorporated not-for-profits (NPOs) are required to obtain their certificates of continuance by July 31, 2017. If corporations (this includes registered charities as well) fail to make this transition by the deadline, your organization will be dissolved by then.

Dissolution may result in a wide range of consequences for your organization, especially if it is a registered charity. This article can provide guidance on dissolved corporations and what you can do if you run into this sticky situation!

If your organization has not yet filed for continuance, do so as soon as possible! Remember, the deadline is July 31, 2017 to avoid facing the consequences of dissolution! And of course, if you need any assistance, contact myself at michelle.steele@rlb.ca or any member of the NPO Team!

More information on the Canadian NPO Corporations act can be found here.

 

Reference:

Miller Thomspson Lawyers

CRA Notice – July 31, 2017