| July 22 | Board of Governors Meeting in New York |
| July 23 | Compliance Buy-Out Period Begins Period to Negotiate and Sign 2003 Draftees Begins Period to Extend QOs Begins Period to Negotiate with Own Club's RFAs/UFAs Begins |
| July 28 | Deadline for Exercising Club Options/Player Options for 2005/06 Deadline for Signing 2003 Draftees/Deadline for Making Required BFOs |
| July 29 | Deadline for Initiating Compliance Buy-Outs (5:00 PM Notice) |
| July 30 | 2005 Entry Draft |
| July 31 | Deadline for Qualifying Offers |
| August 1 | RFA/UFA Period Begins |
| August 5 | Deadline for Election of Group 5 Free Agency |
| August 10 | Player-Elected Salary Arbitration Notification |
| August 11 | Club-Elected Salary Arbitration Notification |
| August 12 | NHL/NHLPA to Schedule Arbitration Cases |
| August 15 | Qualifying Offers Expire Automatically |
| August 22 | First Day of Salary Arbitration Hearings |
| September 1 | Last Day for Salary Arbitration Hearings |
| September 2 | Last Day for Issuance of Salary Arbitration Awards |
| September 4 | Last Day for Second Buy-Out Period [Only for Clubs with Salary Arbitration Cases] (Latest Day for Clubs Receiving Salary Arbitration Awards on September 2 to Exercise Second Buy-Out Option) |
| December 1 | Signing Deadline for Group 2 Free Agents |