It was set up years ago and has worked fine since. Has anyone read it lately?

Working fine is not the same as checked

A PREC that has paid you without incident for several years feels settled, and mostly it is. But nothing about the way a corporation operates day to day would reveal a gap in how its articles are drafted. The absence of a problem is not evidence that someone looked.

Early templates were early

PRECs are relatively new, and the drafting available in the first years reflected that. A corporation set up early is more likely to have been assembled from a general template than one drafted today.

A quiet, cheap way to find out

Reading the articles against the regulation is exactly the work the free check does, and it costs nothing to find out that everything is fine.

How to check yours

The PREC Articles Health Check is free. You upload or paste your articles of incorporation and it reads them against both regimes that govern a PREC: the RECO registration conditions in Ontario Regulation 536/20, and the Canada Revenue Agency rules that decide how the corporation is taxed.

You get a Red, Yellow or Green rating for each regime, with every requirement named and what was actually found in your text. There are no forms to fill in.

Your articles are analysed in your browser. The document is never uploaded, stored, or sent to Capital Toolkit.

What it is, and what it is not

The Health Check produces a drafting-quality hint from the article text you provide. It is a starting point to bring to a qualified lawyer and CPA, not a legal finding that your corporation qualifies as a PREC, and not tax advice. Always have a professional review before you rely on or file anything.

It does not replace your lawyer or your accountant, and it is not meant to. It is meant to make the conversation with them shorter and sharper: you arrive knowing where your articles stand and which protections need attention, instead of paying for that discovery from scratch.

If you want the full analysis

The rating and the list of which protections are present or missing cost nothing. What is paid for is the PREC Deep Dive at $1,000 CAD: the full clause-by-clause written analysis of what is wrong, why it matters, and what to raise with your lawyer. HST is added at checkout.