Articles

Practical commentary on securities law, exempt market compliance, fund formation, investor reporting, and private capital markets.

Feb 20, 2026

When You Must File Form 45-106F1 (and How to Do It Properly)

Form 45-106F1 is the core exempt-market distribution reporting form in Canada. In Ontario, timing turns on the “distribution date,” and mistakes often happen in rolling closes, multi-province offerings, and investor classification. This guide explains when the form is required, how to file it properly, and the practical controls that reduce late fees, rejections, and compliance risk.

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