What do I need to do after incorporating my business in Ontario?

Receiving your certificate of incorporation is only the beginning. There are several practical steps to take before your corporation is fully operational.

First, organize the corporation internally: hold the inaugural organizational meeting (even if it is just you), elect directors, appoint officers, issue shares, pass initial by-laws, and record all of this in your minute book. Second, open a dedicated corporate bank account — mixing personal and business funds creates accounting headaches and can undermine your liability protection. Third, register for the applicable tax accounts: a Harmonized Sales Tax (HST) number if you expect revenue above the small supplier threshold, a payroll account if you will pay employees or yourself a salary, and a corporate income tax account with the Canada Revenue Agency.

You should also consider whether your business activity requires a licence (some regulated activities need municipal or provincial permits) and whether your corporation needs to register an Ontario business name if it will operate under a trade name. Annual filings — including an annual return with the Ontario Business Registry and corporate tax returns — must be kept up to date to maintain good standing. A business lawyer and accountant working together can keep you on track.