I Have My Alberta Trade Name Registered... Now What Do I Do?

I Have My Alberta Trade Name Registered... Now What Do I Do?

Congratulations! Registering your Trade Name is a huge first milestone toward making your business official. You’ve got the certificate or official declaration in hand—but if you're wondering, "What am I supposed to do next?", you aren't alone.

Once your name is officially recorded with the Alberta Corporate Registry, there are a few essential legal, operational, and financial steps you need to take to get fully ready for business.

Here is your straightforward, step-by-step post-registration checklist.

1. Open Your Commercial Bank Account

Priority: Immediate

Before accepting a single dollar from a client, set up a dedicated business bank account.

  • Why it matters: Banks will not allow you to deposit cheques or e-Transfers made out to your trade name into a personal account.
  • What to bring: Your official Declaration of Trade Name, a CRA Business Number (if you have one already), and two pieces of government-issued ID for all account owners.

2. Get a Federal Business Number (BN) from the CRA

Priority: Required for tax setup

Your Business Number (BN) is a unique 9-digit federal identification number issued by the Canada Revenue Agency (CRA). Think of it as your business's tax ID.

You'll need a BN to set up official government tax accounts (like GST or payroll) and to complete formal banking documentation.

3. Evaluate Your GST Account Requirements

Priority: Check your revenue threshold

In Alberta, you only pay the 5% federal GST (there is no Provincial Sales Tax). However, whether you need to charge it depends on your gross revenue:

  • Under $30,000/year: You are classified as a "small supplier" and are not required to collect GST.
  • Over $30,000/year: The moment your gross sales cross $30,000 in a single calendar quarter (or over four consecutive quarters), GST registration becomes mandatory.
Pro Tip on Voluntary Registration: Even if you earn less than $30,000, registering for a GST account voluntarily lets you claim back the GST you pay on your start-up business expenses (via Input Tax Credits)!

4. Check for Local Municipal Permits & Licenses

Priority: Varies by town or city

A provincial trade name gives you the legal right to operate under that name, but local municipalities require their own permission.

Depending on whether you operate out of a physical storefront, a home office, or provide mobile services, check with your local city or town hall to secure a Commercial or Home Occupation Business Licence.

5. Set Up Bookkeeping & Invoicing

Priority: Crucial for tax season

Don't wait until tax time to organize your receipts. Set up accounting software (like QuickBooks, Wave, or Xero) and link it directly to your new business bank account.

Ensure all your official invoices display your registered Trade Name—and if you've registered for GST, your 15-digit GST number (e.g., 123456789 RT0001).

Quick Summary: Next Steps Checklist

  • Open a business bank account using your trade name document
  • Obtain a 9-digit CRA Business Number (BN)
  • Register for a GST account (if earning over $30k or registering voluntarily)
  • Apply for a local municipal business license
  • Set up dedicated bookkeeping software

Need Help Setting Up Your CRA Accounts?

Navigating government portals, setting up Business Numbers, and applying for GST accounts can feel confusing when you're focused on serving your clients.

At Alberta Registrations, we don't just handle your initial Trade Name and Incorporation filings—we can also assist with secondary filings and help get your business fully setup and compliant!

👉 Contact AlbertaRegistrations.ca today to streamline your business startup journey.

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