Partnership Dissolution Agreement and Notice

How it works

What you will fill in

• Does any of these apply?
• Partnership's name
• Names and addresses of all partners
• Date the partnership ends
• How the assets are divided
• How the debts are paid
• Profit and loss split for the final accounts
• What happens to the business name and customers?
• Which partner keeps the name
• Partner in charge of winding up
• Which province's laws apply?
• Date of this document

Good to know

• Partnerships Act (Ontario): after dissolution, partners still have authority to wind up the business, and each stays liable for debts made before the end. Notice protects you from new debts.
• Publish a notice of dissolution in the Ontario Gazette and send it to every customer, supplier and lender. Cancel the Business Names Act registration on the Ontario Business Registry.
• Tell CRA: file the final HST return, close the payroll and HST accounts, and file any final partnership information return (T5013) if the partnership has to file one.

Help in your language

Every question comes with help like this. For example, “Does any of these apply?”:

English: These raise liability, tax or property questions. We still make the full agreement, and we'll flag it.

اردو: کیا ان میں سے کوئی بات ہے؟

ਪੰਜਾਬੀ: ਕੀ ਇਹਨਾਂ ਵਿੱਚੋਂ ਕੋਈ ਗੱਲ ਹੈ?

हिन्दी: क्या इनमें से कोई बात है?

Français: Ces cas soulèvent des questions de responsabilité ou d'impôt. Nous préparons quand même l'entente.

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