Corporations Canada has provided, on its website, a list of the Corporations Canada - Top Ten Deficiencies found in CNCA continuance applications. These deficiencies are actual errors that have been seen often enough by Corporations Canada in continuance applications to make their list. While the following tips may seem to be common sense, as is often the case, it appears that small details are slipping through the cracks. Don't risk having your application rejected because of a minor error!
We have already blogged about General Deficiencies and Deficiencies #1 and #2. This blog deals with Deficiencies #3 and #4.
Deficiency #3: Corporation Number
In the Articles of Continuance, a corporation must provide its corporation number. This is the number that is set out in the top right-hand corner of the Letters Patent. This number is not the same as the business number (BN) assigned to the corporation by the Canada Revenue Agency. When Corporations Canada receives the application to continue, it will type in the corporation number given to see if it matches the corporation name. If it does not, the application will be rejected.
In order to avoid this mistake, before sending in your application, go to Corporations Canada online database of corporations and look up your organization. Both the corporation number and the business number will appear at the top of the page. Please ensure that the corporation number set out in your application is correct.
Deficiency #4: Location of Registered Office
The Articles of Continuance (Section 4) must indicate the province/territory where the registered office will be located. Form 4002 - Initial Registered Office Address and First Board of Directors, must set out the address of the registered office. Please ensure that the address of the registered office is in the same province/territory indicated in the Articles of Continuance.
Stay tuned for our next blog on Deficiencies #5 and #6.
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