Annual Returns

Last updated on September 1, 2023

Each year an eligible business corporation (EBC) must submit an Annual Return together with a completed Annual Return Form (PDF, 70 KB), copies of its financial statements, updated central securities register (CSR) and a copy of its latest annual report filed with the registrar of companies.

EBCs are encouraged to submit these documents online via the electronic Tax Credit Application (eTCA) system. Alternately, EBCs may submit PDF copies of the documents electronically to their Portfolio Manager or to the Venture Capital Tax Credit Program at

EBCs are required to file the annual return within six months of their financial year end.

Financial statements must have been prepared by a Certified Professional Accountant or other person who is a licensed or registered member of an accounting association, in accordance with Canadian accounting standards.

Note: Effective January 1, 2022, EBCs that have raised less than $1,000,000 under the venture capital tax credit program may submit “Compilation Engagement Report” financial statements, while EBCs that have raised $1,000,000 or more are required to submit “Review Engagement” financial statements.

EBCs must submit an annual return in each of the five consecutive fiscal years following the date of the EBC's most recent issue of shares for which tax credits were issued. See section 28.97 of the Small Business Venture Capital Act for additional information.