New Corporate Governance Reporting Requirements

In 2024, a new reporting requirement went into effect through the Corporate Transparency Act. All domestic and foreign entities, including corporations and limited liability companies (LLCs) that have filed formation or registration documents with any U.S. state, are required to report Beneficial Ownership Information (BOI), unless specifically exempted. While your business may not be physically operating in the U.S., it may still need to fulfill this reporting requirement.

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Between COVID and a new U.S. President, the immigration landscape between the U.S. and Canada has experienced both victories and challenges. Some of the major changes and roadblocks that have occurred over the past three months include:

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Canadian-headquartered Pride Pak processes fresh vegetables, making ready-made salads in a bag and chopped vegetables. The company also sources raw vegetables from both the US and Canada. Pride Pak was started in 1984 and has their main office in Mississauga with another facility in New Foundland.  They currently employ over 200 people and sell to grocery retailers and into the restaurant industry.

 Tags: canadian business cross border business international business

Insight into U.S. Human Resource Policies

There are a number of differences in human resource policies between the U.S. and Canada, making it important for Canadian businesses owners considering a U.S. expansion to fully understand regulations. Policies and procedures that focus on employees and comply with Federal and State Labor laws are imperative.

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I travel to Canada a few times each month as I work to help Canadian companies expand their business into the U.S. This November, I’m heading to Montreal to meet with companies through AmCham Quebec for a program focusing on business opportunities in the State of New York for Quebec companies; the following week I’ll be engaging companies at Select USA in Toronto; and finally on November 23rd I’ll participate in the Ontario Export Awards in Mississauga. With all this travel, waiting bumper to bumper to cross the border is not the best use of time- and that’s why I have the NEXUS pass. NEXUS program is designed to expedite the border clearance process for low-risk, pre-approved travelers into Canada and the United States.

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