CAO Guide on Annual Condo Act Requirements

Condominium corporations have legal obligations under the Condo Act. Learn what they are and access tools and resources to help condo boards and directors comply.

The Condo Act requires condo corporations to conduct certain activities or meet specific requirements annually such as:

• Holding annual general meetings
• Filing annual returns with the CAO
• Preparing and approving financial statements
• Maintaining insurance
• Updating the reserve fund study

This part of the guide sets out many of the regularly occurring legal requirements for condo corporations. It includes general descriptions, references to the Condo Act and specific deadlines for obligations such as:

• Holding AGMs
• Issuing periodic information certificates
• Creating annual budgets
• Filing returns
• Appointing auditors
• Creating financial statements

The best practices section of the guide outlines processes and procedures that condo boards may adopt to help their condo corporation operate efficiently such as:

• Creating an annual plan
• Conducting vendor and service reviews
• Collecting owner feedback

The guide provides additional information about resources, such as:

• CAO Condo Registry
• an annual condo legal requirements checklist
• the CAO Condo Calendar Tool