Change of owner or directors

Whenever one of the owners or directors of your business changes, it is important that you call us at 1-800-959-5525.

Depending on the structure of your business, a change of owner could trigger a legal name change or require the registration of a new business number (BN) and CRA accounts.

Sole proprietorship

If you sell or stop operating your business, you must close your business number (BN) and all your CRA accounts.

If you sell your business, the new owner will have to register for a new BN and CRA accounts.


If the structure of the partnership changes and a partner leaves or one is added, call us at 1-800-959-5525. A change of partners will have a different impact on your business depending on your partnership agreement and whether or not your business was registered using the legal names of each partner or the provincially registered partnership operating name.

In some cases, if the partners change, the business is considered a new legal entity and requires a new business number (BN) and CRA accounts.


If the structure of the corporation changes and a director leaves or one is added, call us at 1-800-959-5525.

It is important that we have the correct director name and social insurance number (SIN) on file because if a corporation (including for-profit or non-profit corporations) fails to deduct, withhold, remit, or pay amounts held in trust for the Receiver General for Canada, the directors of the corporation at the time of failure may be held personally liable along with the corporation to pay the amount owing. This amount includes penalties and interest.

However, if the directors take action to ensure the corporation makes the necessary deductions or remittances, we will not hold the directors personally responsible.


We ask for the name and social insurance number (SIN) of at least one owner/director/partner and the business activity of the business when updating business owner information for GST/HST.

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