Ontario transparency register (ISC register)
Required for private OBCA corporations since January 1, 2023.
| Section | OBCA s. 140.2 |
| In force | January 1, 2023 |
| Threshold | 25 percent of votes or fair market value, or control in fact |
| Filed with Ontario? | No, kept at the corporation |
Who is an individual with significant control
An individual who holds, directly or indirectly, shares carrying 25 percent or more of the votes or 25 percent or more of fair market value, or who has direct or indirect influence that would result in control in fact.
What to record
- Name, date of birth and latest known address
- Jurisdiction of residence for tax purposes
- Date they became or ceased to be an ISC
- How they meet the definition
- Steps taken each financial year to keep it accurate
Need an ISC register?
Included and prefilled in every book.
Have us prepare it, CA$89 →Updating and access
Update within 15 days of becoming aware of a change. Certain authorities can request the register.
Common trap: leaving it blank
A corporation with no ISC still records that fact and the steps taken to identify them.
Federal comparison
CBCA corporations keep a similar register under s. 21.1 and also file ISC information with Corporations Canada.
Frequently asked questions
Is the register public in Ontario?
No. It is kept by the corporation and available to specified authorities on request.
Is it in your book?
Yes, prefilled from the shareholders you enter.
Does it apply to public companies?
The requirement is for private (non-offering) corporations.
Sources
This page is general information, not legal advice. We are a document preparation service, not a law firm. Review by a lawyer licensed in your province is recommended.