How to: Close a Canadian-Controlled Private Corporation (CCPC) | Part 6 - Post Dissolution Steps
📋 Are you managing corporate records or preparing for a company dissolution? This video is your ultimate guide to legal compliance and efficient record-keeping for Canadian businesses!
🔍 What You’ll Learn in This Video:
1️⃣ Retention Periods for Corporate Records
Permanent Records: Understand what to keep indefinitely (e.g., share registers, general ledgers) and the required retention period after dissolution.
Non-Permanent Records: Learn about retaining tax returns, financial statements, and source documents for six years.
2️⃣ Maintaining Accurate and Complete Records
Best practices for documenting financial transactions, decisions, and resolutions.
Tips for ensuring all records are audit-ready and compliant with CRA standards.
3️⃣ Using Electronic Record-Keeping Systems
How to ensure electronic records are accessible and secure.
Guidelines for backing up records and converting paper to digital formats.
4️⃣ Managing the Transfer or Distribution of Property
Steps to obtain a CRA clearance certificate before distributing assets.
Tips for documenting the distribution process and ensuring compliance with tax obligations.
5️⃣ Regularly Reviewing and Updating Records
Why periodic reviews are critical.
How to responsibly dispose of records no longer required.
🎯 Whether you're a business owner, bookkeeper, or tax professional, this video provides actionable insights to keep your corporate records compliant and organized.
📝 Helpful Resources:
Canada Revenue Agency guidelines on record-keeping: https://bit.ly/3V3Tb2E
Learn more about electronic records standards: https://bit.ly/4i3RuMD
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👉 Don’t miss our tips on dissolving corporations and managing corporate transitions with confidence.
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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.
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