There is no fixed national “grace period” to repair an outdated minute book; the expectation in Canadian corporate and tax law is that records are kept accurate and up to date on an ongoing, annual, and event-driven basis. In practice, you usually have only as long as it takes before a regulator, CRA, lender, […]
The Timing on Outdated Minute Books Read More »
Outdated or incomplete corporate minute books in Canada can trigger statutory fines and even imprisonment, and they also increase the risk of CRA penalties, audits, and corporate dissolution. The exact penalties depend on the statute (federal vs provincial) and the specific record-keeping failure, but they can be significant for the corporation, directors, officers, and
What Legal Penalties Arise from Outdated Minute Books? Read More »
