Corporate & business
Statutory Declaration of Beneficial Ownership (Ontario Corporation)
Free template from Minute Notary, an Ontario notary office. A director's or officer's sworn statement listing every individual with significant control over an Ontario corporation, for a bank, lender or other institution that asks who owns or controls the company.
No charge until a notary signs it
Word files are editable. Review any changes carefully before signing or uploading.
Also known as
- Beneficial ownership declaration
- Declaration of individuals with significant control
- Ultimate beneficial owner declaration
+2 more names
- Beneficial owner certification for a bank
- ISC declaration Ontario
The blanks fill themselves in as you type.
- Scope
- General template, not legal advice
- Formats
- PDF + editable Word downloads
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- Live preview as you type
Statutory Declaration of Beneficial Ownership (Ontario Corporation)
A compact preview of this template
01You (the declarant)
Your full legal name
Exact legal name of the corporation
Individuals with significant control
STATUTORY DECLARATION OF INDIVIDUALS WITH SIGNIFICANT CONTROL
(Beneficial ownership of an Ontario corporation)
I, ______, of ______, in the Province of Ontario, DO SOLEMNLY DECLARE THAT:
I am the ______ of ______, Ontario corporation number ______ (the “Corporation”), and I have knowledge of the matters I declare below.
The Corporation keeps a register of individuals with significant control, as section 140.2 of the Business Corporations Act (Ontario) requires, at ______.
During its current financial year the Corporation has taken reasonable steps to identify every individual with significant control over it and to keep the register accurate, complete and up to date.
In this declaration, an individual with significant control is a person who is the registered holder or beneficial owner of, or has direct or indirect control or direction over, shares carrying 25 per cent or more of the votes or making up 25 per cent or more of all outstanding shares by fair market value, or who has influence that, if exercised, would result in control in fact of the Corporation.
The individuals with significant control over the Corporation are:
Name: ______
Date of birth: ______
Latest known address: ______
Jurisdiction of residence for tax purposes: ______
Nature and extent of control: ______
Became an individual with significant control on: ______To the best of my knowledge, no other individual has significant control over the Corporation, and no one holds shares of the Corporation for another person except as described above.
I make this declaration at the request of ______, to confirm who owns or controls the Corporation.
AND I make this solemn declaration conscientiously believing it to be true, and knowing that it is of the same force and effect as if made under oath and by virtue of the Canada Evidence Act.
Signed and sworn (or affirmed/declared) before me by videoconference in Ottawa, Ontario, while the Affiant(s)/Declarant(s) were located in ______________________, on ______________________, pursuant to O. Reg. 431/20, and Electronic Commerce Act, 2000.
______________________________ | ______________________________ |
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How it works
Prepare your document, one step at a time.
Answer the questions, choose the download you need, then continue with signing or booking.
Overview
About this document
- 01
What is a statutory declaration of beneficial ownership?
It is a solemn declaration in which a director or officer names each individual with significant control over the corporation and describes how that control arises, with the details the corporation's own register holds.
It does not replace the register. The corporation must keep the register itself, at its registered office or another place in Ontario chosen by the directors.
- 02
When you need one
You may be asked for this declaration when:
- A bank opening a business account asks who the beneficial owners are.
- A lender, investor or buyer wants sworn confirmation of who controls the company.
- A foreign bank, supplier or partner asks for proof of ownership.
- Your accountant or lawyer needs a sworn record for a transaction.
- 03
What to include
Have these ready:
- The corporation's exact name and Ontario corporation number.
- Your office in the corporation, such as director, president or secretary.
- For each individual with significant control: full name, date of birth, latest known address and tax residence.
- How each person has control, such as the number and class of shares and the percentage of votes, and the date it began.
- Where the register is kept.
- 04
Official source and who accepts it
Under the Business Corporations Act, an individual has significant control if they are the registered holder or beneficial owner of shares, or have direct or indirect control or direction over shares, carrying 25 per cent or more of the votes or making up 25 per cent or more of the shares by fair market value. A person whose influence would give control in fact also counts, and two or more people can each qualify when they hold such interests jointly.
Section 140.2 requires the register to show each person's name, date of birth, latest known address and tax residence, the dates they became or stopped being an individual with significant control, how they have control, and the steps the corporation took to keep the register current. The corporation reviews it at least once each financial year and records new information within 15 days of learning it. Offering corporations, listed companies and their wholly owned subsidiaries are exempt.
- 05
Common mistakes
Avoid these:
- Listing only the registered shareholders and missing someone who controls shares through a holding company, a trust or an agreement.
- Leaving out tax residence, which the register must record.
- Relying on an out-of-date register. Review it before you swear the declaration.
- Signing before the appointment.
- 06
How to get it notarized in Ontario
Fill in the form on this page and download a clean, ready-to-sign PDF. Do not sign it yet: an affidavit or statutory declaration is signed in front of a notary public or commissioner for taking affidavits, after the oath or affirmation.
When you are ready, book an appointment with Minute Notary. You can swear or affirm it before a notary by video from anywhere in Ontario, or in person on a mobile visit. Bring government-issued photo ID; the notary administers the oath or affirmation and applies the seal.
Good to know
Before you fill it in.
Short notes on this template. Worth a minute before you start.
- 01
Prepared for use in Ontario. A general template, not legal advice.
- 02
Notarize online by video across Ontario, or in person anywhere in Ontario.
- 03
Sign in front of the notary, who administers your oath or affirmation and applies the seal.
Frequently asked
Questions about the Statutory Declaration of Beneficial Ownership (Ontario Corporation)
- Who can make the declaration?
- A director or officer who knows the corporation's ownership. If more than one institution needs it, the same person can swear separate copies.
- Is this for a federal corporation too?
- No. A corporation under the Canada Business Corporations Act keeps its own register under federal law. This declaration is written for corporations under Ontario's Business Corporations Act.
- What if no one holds 25 per cent?
- Someone may still have control in fact, such as a person who directs the board. If the corporation cannot identify anyone after reasonable steps, the Act requires further reasonable steps; ask the corporation's lawyer how to record that before you swear.
- Can I swear it by video?
- Yes. It is a statutory declaration, so a notary can commission it by video from anywhere in Ontario, or in person on a mobile visit. Keep the register and share records at hand.
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