How To: How to Close a Canadian Controlled Private Corporation (CCPC) | Step-by-Step Guide (Overview)

Stay tuned for our upcoming video series, where we’ll provide in-depth coverage on each step involved in closing your Canadian Controlled Private Corporation (CCPC). Over the next few weeks, we'll dive deeper into each topic, offering detailed guidance and expert insights to help you successfully navigate the dissolution process. Don't miss these essential tutorials!

From reviewing your corporate documents to settling financial obligations and filing final tax returns, this video covers all the essential steps you need to take to properly wind down your corporation and avoid any issues with the CRA (Canada Revenue Agency).

🔑 In this video, we’ll cover:
1. How to Review Corporate Documents to ensure everything is in order for dissolution.
2. The process to Obtain Board and Shareholder Resolutions to authorize the dissolution of your CCPC.
3. Steps to Settle All Financial Obligations and ensure debts are cleared before closing.
4. How to File Final Tax Returns with the CRA, including requesting a tax clearance certificate.
5. Completing the Legal Dissolution by filing appropriate forms with Corporations Canada or your provincial registry.
6. Important Post-Dissolution Steps, such as retaining corporate records and distributing remaining assets after receiving the clearance certificate.

Make sure to follow these steps to close your corporation smoothly and avoid penalties from the CRA. Don’t forget to subscribe for more Canadian tax and business tutorials!

Disclaimer:
The information provided in this video is for general educational purposes only and is not intended to be legal, tax, or professional advice. Closing a Canadian Controlled Private Corporation (CCPC) involves legal and financial considerations unique to each business, and you should consult with a qualified legal, tax, or financial advisor for specific advice tailored to your situation. Relying solely on this information may not address all relevant factors or requirements for your particular circumstances.

Don't forget to like, subscribe, and hit the notification bell for more expert advice on tax compliance and financial management!

Check out my socials for other tips and tricks on how to run a successful business in Canada, and as always, feel free to message me with any questions!

Register your Sole Prop/ Incorporate thru Ownr (15% Discount through Affiliate Link): https://partners.ownr.co/n7amjwp1phfn

https://www.instagram.com/fixmybooks
https://www.facebook.com/fixmybooksca​
https://www.linkedin.com/company/fix-my-books-inc/
https://www.fixmybooks.ca/

Don’t forget to Like and Subscribe!

 
Previous
Previous

How To: Close a Canadian-Controlled Private Corporation (CCPC) | Part 1 - Review Corporate Documents

Next
Next

How To: QuickBooks Online Recording GST HST Instalment Payments Made EASY