Update On The CNCA Continuance Process

For federally incorporated non-profit corporations (both charities and NPOs), the deadline for completing their continuance under the Canada Not-for-Profit Corporations Act (CNCA) is approaching rapidly.  The continuance must be completed by October 17, 2014.  The consequences of non-filing by this date are described below, but include the possibility of dissolution as a corporation and (if applicable) de-registration as a charity.

In February, Corporations Canada held an information/feedback session, which included an update on various matters pertaining to non-profit corporations.

The majority of corporations have not yet completed the continuance process.  As of February, only about 2500 corporations (out of approximately 13,000 federally incorporated non-profit corporations in Corporations Canada's records) had completed the transition under the CNCA.  Of these 2500 continuances, 1900 were done in 2013.  It can therefore be anticipated that a significant spike