What happens if my federal corporation misses its annual return?

Corporations Canada sends a default notice. The law allows it to dissolve a corporation after one year of not filing; its policy is to dissolve after two years, with a final notice giving 120 more days to file. A dissolved corporation cannot do business, so file on time even if nothing changed.

Source: Policy on annual filings: Canada Business Corporations Act, Corporations Canada, Innovation, Science and Economic Development Canada