What are the annual commitments for a Strata Corporation?

A Strata Corporation’s annual commitments include filing of annual returns and annual registration. In accordance with sections 4(5) and 4(7) of the Registration (Strata) Titles Act, each strata corporation is required to register annually on or before the 1^st day of April and to file the report of its activities within one hundred and twenty (120) days of the 31^st of March.

What is Annual Registration?

This is the payment of the strata corporation registration fees as required under the Registration (Strata) Titles Act.

The requirements for completion of your annual registration are as follows:

1. Payment of the annual and filing fees as detailed in the statement of account that is sent yearly.
2. Submission of all documents/information outlined in the attached annual returns checklist

You are encouraged to complete your annual registration within the prescribed timelines in order that you may receive your certificate of compliance within the first quarter of the upcoming financial year.

What is Annual Returns and who is required to file?

Annual returns is a report of the strata corporation’s activities during the financial year. It alerts the Commission to any discrepancies or issues a strata may encounter.

All strata corporations are required to file returns except in cases where an application for waiver from said requirements is made and approved on the basis of sole ownership of all strata lots contained in the strata corporation using Form 14. Copies of the certified titles must be submitted evidencing sole ownership.

• Complete Annual Returns

What you will need

Forms 8, 13A, 13B and 13C

AGM Minutes

Notice of the meeting

A listing of all proprietors

Audited Financial Statements

Details of current Executive

What is the process

Step 1: Submit Annual Return

The following documents should submitted to the Main Office for processing:

• Forms 8, 13A, 13B and 13C
• Minutes (& supporting documents) of AGM held within your financial year.
• Notice of the meeting
• A list of all proprietors balances and strata lot numbers, as at the date of the meeting.
• Audited financial statements or subject to the approval of the Commission, a copy of the accounts prepared in accordance with generally accepted accounting principles. This must be signed by the Chairman of the Corporation and at least one other member of the executive committee.
• Names and addresses of current executive
• Proof of Insurance (insurance article to not insure)
• Filing Fee of $1000.00

Step 2: Review of Submission

You will be notified by the Strata Commission regarding the status of your submission after it has been comprehensively reviewed. The Strata Corporation will be issued a Certificate of Compliance if no deficiencies are found.