De-Listing Imminent for 3000 Canadian Non-Profits!

When the Canada Not for Profit Corporations Act (CNCA) came into force in 2011, it required all Federally incorporated non-profit corporations, including charities, to transition into the new regime by October 2014.

This date has been pushed back several times, but a CRA Notice has recently confirmed that 31 July 2017 is the absolute final deadline for transition into the new system. Any non-profit corporation that have failed to transition to the CNCA – estimated at about 3000 companies in total! – will be discontinued.

If the organization is a charity, discontinuance of the corporation will also end its charitable status, and in theory a new corporation would have to be formed and a fresh application made to the CRA for charitable status, which would take at least several months. Accordingly, it is of particular importance to any non-profit with charitable status to stay within the regulations and complete its transition immediately.

Questions about your non-profit or charitable venture? Feel free to contact me.

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