Home > News > 2014 > May 26, 2014 Do you know that as of July 1, 2014, trusts operating a commercial enterprise must register with the Registraire des entreprises?

May 26, 2014
Do you know that as of July 1, 2014, trusts operating a commercial enterprise must register with the Registraire des entreprises?

Bill 128, An Act to enact the Money-Services Businesses Act and to amend various legislative provisions, amended the Act respecting the legal publicity of enterprises to require certain trusts to register.

Registration requirement 

A trust must register if

  • the trust operates a commercial enterprise; and
  • the trust is administered by a trustee not registered with the Registraire des entreprises.

A trust that operates a commercial enterprise does so in order to turn a profit. The following types of trusts are examples of such trusts:

  • business trusts;
  • investment trusts;
  • real estate investment trusts.

How to register

Trusts required to register must file form RE-204, Déclaration d’immatriculation pour une fiducie exploitant une entreprise à caractère commercial, and pay the required fees. 

A trust that operates a commercial enterprise that voluntarily registered before February 14, 2011, must file form RE-403, Déclaration de mise à jour annuelle ou courante pour une fiducie exploitant une entreprise à caractère commercial, making sure to provide the following information:

  • purpose of the trust;
  • the name(s) of the administrator(s) of the property of others, if applicable.

The forms will be available on the List of Forms page a few days before the new requirement comes into force. Note that the registration fee for trusts that operate a commercial enterprise is the same as for for-profit legal persons.

For more information, contact us.

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