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Notice of Withdrawal from Partnership
NextGen Docs form ND-1224. Search ND-1224 on docs.ngz.ca to make this document again.
Tells your partners in writing that you are leaving the partnership, from a set date, with a checklist to limit your liability.
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What you will fill in
- Partnership's name
- Your full name and address (the partner leaving)
- Names of the other partners
- Is there a written partnership agreement?
- Your last day as a partner
- What happens to the business?
- Which province's laws apply?
- Date of this document
Good to know
- A partner who leaves is still liable for partnership debts made before they left. To avoid liability for new debts, tell every customer and supplier who dealt with the firm, and in Ontario publish a notice in the Ontario Gazette (Partnerships Act s. 36).
- Ontario Business Names Act: the partnership's registration must be amended within 15 days after a partner leaves. Do it on the Ontario Business Registry.
- Tell the bank to remove you as a signer, and tell CRA (the partnership's business number for HST and payroll). Ask for a final accounting of your capital and profit share.
Help in your language
Every question comes with help like this. For example, “Partnership's name”:
English: The registered business name of the partnership, for example: Sandhu & Qureshi Accounting.
اردو: شراکت کا نام۔
ਪੰਜਾਬੀ: ਭਾਈਵਾਲੀ ਦਾ ਨਾਮ।
हिन्दी: साझेदारी का नाम।
Français: Le nom enregistré de la société de personnes, par exemple : Sandhu & Qureshi Comptabilité.
Questions people ask
How much does the Notice of Withdrawal from Partnership cost?
It is free to fill in, preview and download.
Can I fill in the Notice of Withdrawal from Partnership in Urdu, Punjabi, Hindi or French?
Yes. The finished document is in English, but every question has plain help in English, Urdu, Punjabi, Hindi and French, and you can speak your answers.
Do I need a lawyer?
Many people use this document on their own. If your situation is complicated, or a lot of money or your home is involved, talk to a lawyer or licensed paralegal. In Ontario, the Law Society Referral Service (findlegalhelp.ca) gives a free 30-minute consultation.
Is my information private?
Only you can see your answers. They are saved on your device, and in your own account if you sign in, so you can finish on another device. NextGen Docs is not a law firm and does not give legal advice.