Does a court-appointed guardian have to file annual accounts with the Ontario court or the Public Guardian and Trustee?

Yes, generally. A court-appointed guardian of property in Ontario is expected to keep detailed, accurate records of the incapable person's income, expenses, assets, and any transactions carried out on their behalf, and to provide regular accounts reflecting that management, typically on an annual basis, to the people entitled to review them, which can include the Public Guardian and Trustee and, where relevant, the court itself.

This accounting obligation exists because a guardian is a fiduciary handling someone else's property without that person's ongoing oversight, so regular, transparent record-keeping is the main safeguard against mismanagement or misuse of funds. A guardian who fails to account properly, or whose accounts raise concerns, can face closer scrutiny, a court-ordered formal passing of accounts, or, in serious cases, removal. Because keeping proper, organized records from the very start of the guardianship makes annual accounting far more manageable, anyone taking on this role should set up a clear system for tracking transactions immediately and get guidance from a lawyer on exactly what the accounting obligations require in their specific situation.