It cannot hurt, if you add a very 'to the point' letter of explanation about the incorporated company, which is still operational, and your partner is actively on the company board(as I understand from your post).thank you! so relieved to know others have taken a similar approach and that IRCC officers will be familiar. We were not too keen on sending additional documents to complicate things. One additional question which we have is: the company which he opened when he incorporated in Dec 2018 (XYZ CANADA CORP) is still open, but has had no revenue in 2020 and 2021. We have kept it open as we expect it to start generating revenue in 2022. He has filed the corporate taxes for this for 2018-2020. Do we have to mention any of these in the LoE, or do they simply not care about what happened to the corporation after you went on T4?
Additionally this occupation, could also be added to the occupation activity list - where the 'to' date would be 'present' and 'from' date would be date of incorporation - since the company is still operational and you have been filing taxes through the years, even if there was no income. This line, would be in addition to when the company was under contract with the specific bank, that you already have there on the occupation list.
There is no problem in concurrent activities (date wise) on the occupation list till the time you have documentation on your side. So your partner could be in the job, as he is now, while also being a board member in the private company. And in this case both should be mentioned as current 'occupations.' Since you seek more business and that will in time reflect on your documentation for 2021-2022 probably.
Alternately, just add this detail to the occupation list and not provide any letter of explanation, since it should be self explanatory. You'll have to be the judge of that, based on your details.
This is my opinion.
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