All Companies, closed corporations and non-profits must file their CIPC annual returns on a yearly basis, along with the prescribed fee. If annual returns are not filed within the prescribed time period, the CIPC assumes the company is inactive and begins the de-registration process to remove it from its active records. The CIPC can deregister a company for failing to file annual returns for two or more years without a court order and often without the knowledge of the business owners.