Its already that time of year again! Mark your calendars for the upcoming filing deadline for annual returns, which is only one month away. The filing deadline is March 31st, 2019.
Each year, condominium corporations are required to file an annual return with the Condominium Authority of Ontario (“CAO”). Annual returns must include the following information about the corporation:
- the date of registration;
- the corporation’s legal name;
- the type of corporation;
- the address for service;
- the municipal address, if one is contained in the declaration;
- the total number of units (if not a common element condominium corporation);
- the total number of eligible voting units (i.e. excluding parking/storage units pursuant to section 49(3) of the Act);
- the maximum number of votes that could be counted at a meeting of owners (if a common element condominium corporation);
- the name of each director and date of election or appointment;
- the name and address for service of the management company, if any;
- the start and end date of the fiscal year;
- a statement of whether there has been an inspector appointed pursuant to the Act (and the name and business address of the inspector and the date of appointment, if applicable); and,
- the date of the last annual general meeting.
An annual return may also include an electronic mail address for the corporation if one is available.
For any condominium corporations created on or after January 1, 2019, annual returns must be filed within 90 days of the date the corporation was created. For all other condominium corporations, annual returns must be filed by no later than March 31st, 2019. All returns can be filed online through the CAO’s website.
This year, the CAO will be imposing a $200.00 late filing fee on all overdue returns, effective April 1st, 2019.
So don’t miss this deadline-mark your calendars for the week before March 31st, 2019 to avoid any late filing fees!