Revoking Dissolution Intent for Canada NFP Organizations

Understanding the Statement of Revocation of Intent to Dissolve (Form 4020) by ISED-ISDE

If your organization, registered under the Canada Not-for-profit Corporations Act (NFP Act), has previously submitted an intent to dissolve but now wishes to continue its operations, you will need to complete and submit the Statement of Revocation of Intent to Dissolve (Form 4020). This official document, issued by Innovation, Science and Economic Development Canada (ISED-ISDE), serves to formally revoke the dissolution process and keep your corporation active.

Objectives of the Form

The primary purpose of Form 4020 is to provide a legal record that the members of your corporation have resolved, through a special resolution, to revoke the previously filed intent to dissolve. This form ensures that the corporation remains in good standing with federal authorities and prevents the dissolution from proceeding. It is a crucial step for organizations that have reconsidered their decision to dissolve and wish to continue their activities under the NFP framework.

Preparing Your Submission

Key Information Required

• Corporate Name: The official registered name of your corporation as it appears on federal records.
• Corporation Number: The unique identifier assigned to your corporation by Corporations Canada.
• Declaration: A statement certifying that you are a director or an authorized officer of the organization.
• Legislative Authority: A declaration that the revocation is made under the authority of the NFP Act, specifically subsection 221(10).
• Signature and Contact Details: The signature of the authorized individual, along with their printed name and telephone number.

Important Legal Considerations

It is essential that the information provided is truthful and complete. Providing false or misleading statements can lead to legal penalties, including fines of up to $5,000 or imprisonment for up to six months, as stipulated under subsection 262(2) of the NFP Act.

Filing the Form: Online or Paper Submission

Organizations can submit Form 4020 either through the official online platform provided by Corporations Canada or by mailing a completed paper copy to the designated office. The digital submission process is generally faster and allows for easier tracking of your application status.

Online Submission

The digital platform for filing is accessible via the Corporations Canada website. You will need to create an account or log in using your existing credentials. After completing the form electronically, you can submit it directly through the portal, which provides confirmation of receipt.

Paper Submission

If you prefer to submit a paper copy, ensure that the form is filled out legibly and signed. Mail the completed form to the address specified on the instructions, and consider using a trackable mailing service to confirm delivery.

Processing and Follow-Up

Once received, the application undergoes review by the appropriate authorities at ISED-ISDE. Processing times can vary depending on the volume of submissions and whether additional information is required. It is advisable to keep a copy of your submitted form and any correspondence for your records.

If the revocation is approved, your corporation will remain active, and you will be notified accordingly. Conversely, if there are issues or missing information, you may be contacted to provide clarification or additional documentation.

Contacts and Additional Resources

For questions related to the completion of Form 4020 or the filing process, you can contact Corporations Canada through their official contact channels. It is also recommended to review the relevant provisions of the NFP Act and the official guidelines provided by ISED-ISDE to ensure compliance.

Remember, maintaining accurate and current corporate records is essential for ongoing compliance and organizational integrity under federal law.