Whether you have incorporated or changed owners or whatever the case may be, you now have a new CRA number. Please DO NOT change the CRA number on your account as this will affect your reporting and is incorrect according to CRA. You need to maintain any reports associated with the old CRA number independently for audit purposes. So, instead you need to shut down your current business and open a new one, how to best shut down the payroll for your business.
The basics are:
Issue ROEs for all employees from old company
Issue T4s for all employees from old company
Gather any records you need from your old company
You can then move on to opening a new account.
Opening a New Account
To get started with your new CRA number follow these instructions:
Choose your plan and enter the information for your new account
Hire all employees as new (make sure you filed the ROEs from the previous account/business).
Complete the ePay set up for your new business.
Your old account will be closed when payment is moved. All data will remain but you will no longer have access to it once the subscription is moved. Contact us if you need access to the old account.
Keywords: Incorporated, Amalgamated, New Business, New Business Number, New BN
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