The annual update of the minutes book should generally be carried out at the time of the company's annual corporate formalities, in particular when holding its annual general meeting or adopting the written resolutions that serve as such, rather than automatically at the end of its financial year.
Each year, certain decisions by shareholders and directors must be made and documented. These may include the election of directors, the appointment or retention of certain officers, and other required annual decisions.
Where permitted by law, these decisions may be recorded by means of written resolutions rather than at an assembly or meeting.
This annual update is also a good time to verify that corporate records accurately reflect changes that have occurred during the year, particularly with respect to directors, officers, the issuance and transfer of shares, and shareholders.
The preparation of financial statements or tax returns may be a convenient time to perform this verification, but it does not replace annual corporate formalities or deadlines prescribed by law.
In summary , it is recommended to update the minutes book when the annual corporate formalities are due. The important thing is to respect the applicable deadlines and ensure that annual decisions and changes that occurred during the year are properly documented.