EQBR Process of Dissolving a Business

EQBR Process of Dissolving a Business

Our process of doing dissolution is straightforward:

    1. Contact Easy Quick Business Registration (EQBR) via e-mail or telephone (contact page) and indicate the type of business you are looking to dissolve:
      1. Sole Proprietorship
        or
      2. Corporation (business not started)
        or
      3. Corporation (commenced business)
    2. Easy Quick Business Registration will then send you the EQBR related form/questionnaire.
    3. Answer the pertinent questions and return to Easy Quick Business Registration along with any required paperwork.
      1. In the case of a dissolution of a sole proprietorship, a copy of the existing and valid Master Business License must be included with the paperwork when returned to Easy Quick Business Registration.
      2. In the case of a dissolution of a corporation, the original Letter of Authorization from the Minister of Finance must be provided as described below in Step 8A. —  Please see Step 10 & 11 for more information.
    4. Easy Quick Business Registration will review the submitted answers for completeness and accuracy.
    5. Easy Quick Business Registration will be in contact to review any questionable data and answer all questions or concerns that you may have.
    6. Once both parties are satisfied, Easy Quick Business Registration will ask for payment method and execute the billing process.
    7. Easy Quick Business Registration will then fill out the related government form based on the information provided in the questionnaire before returning it back to you (Corporation Dissolution only) for any required signatures (2 copies).
    8. Once both copies have been signed (Corporate Dissolution only), they are to be returned to Easy Quick Business Registration.
      1. In the case of a dissolution of a corporation, the original letter from the Minister of Finance that authorizes the dissolution to Easy Quick Business Registration must be provided. This letter must be dated no later than 50 days from the date submitted to Easy Quick Business Registration. — Please refer to Step 10 below for more information.
      2. In the case of dissolution of a corporation, provide copies of 2 pieces of valid, government issued identification for each director (1 being a Photo ID such as a Driver’s License or Passport).
      3. In the case of dissolution of a sole proprietorship, provide copies of 2 pieces of valid, government issued identification for each director (1 being a Photo ID such as a Driver’s License or Passport).
      4. Should you decline to process the Ontario government corporation dissolution documentation back to Easy Quick Business Registration, you are then entitled to a 25% refund once you have notified Easy Quick Business Registration within 10 days of the dated EQBR form (submitted in Step 3).
    9. Once the signed documentation has been received (Corporation Dissolution only), Easy Quick Business Registration then files it with the Ontario government.
    10. Disclaimer: For information only, please check with the Canada Revenue Agency for the most current information. In the case of dissolving a corporation the client will need to send a letter to the Ministry of Finance requesting dissolution of an Ontario Corporation. The letter should start with a statement “I am requesting a Consent Letter to dissolve an Ontario corporation.”
      1. The letter must contain:
        1. Legal name of business
        2. Corporate tax #
        3. Contact name & phone #
        4. Mailing address
        5. Date of dissolution
        6. Signed by a director
      2. The letter is to be sent by mail to:

        Ministry of Finance
        Account Management and Collections Branch
        Tax Roll Management Unit
        4-33 King Street West
        PO Box 620
        Oshawa, ON
        L1H 8E9

        or

        By fax to : 905-433-5418

      *Please note: The Ministry of Finance may take up to 10 weeks to provide the Consent Letter.

    11. Disclaimer: For information only, please check with the Canada Revenue Agency for the most current information in the case of dissolving a corporation.In association with dissolving an Ontario company, the Canada Revenue Agency (CRA) provides form RC145 to close multiple Business Number Program Accounts. It is strongly recommended that the company wishing to dissolve review and adhere to:
      1. Once the Consent Letter is provided then you must provide CRA with:
        1. Final Tax Return
        2. Form RC145 (Request to Close Business Number (BN) Program Accounts)

 

 

Should you have any questions about our services, please do not hesitate to contact us and one of our representatives will assist you further with your inquiries or concerns.