What are the annual requirements and what is an annual return?
Companies are to hold annual general meeting where the financial statements are presented to the shareholder.
The annual return is an electronic form lodged with ACRA and contains important particulars of the company such as the name of the directors, secretary, its members, and the date to which the financial statements of the company are made up to. The annual return provides critical information that helps the company’s stakeholders to make informed decisions.
The appointed officer of your company (e.g. a director or company secretary) can file the annual return on ACRA’s online filing portal BizFile+. Alternatively, we can be your registered filing agent to do this on behalf of the company.
Timeline to file annual returns
File annual returns within five months (for listed companies)or seven months (for non- listed companies) after financial year end.
For companies having a share capital and keeping a branch register outside Singapore,file annual returns within six months (for listed companies) or eight months (for non-listed companies) after financial year end.
Applying for an extension of time to file annual return
We can assist to apply for an extension of time to file annual return is applicable only to companies with financial year ending on or after 31 August 2018.
Companies can apply for an extension of time of 60 days to file the annual return. As it requires up to 14 working days to process the application, you are advised to submit the EOT application more than 14 working days before the deadline. The application costs $200.
Filing overdue annual returns
If your company has not filed its annual returns for more than one financial year, you would need to file the overdue annual returns before you can proceed to file the annual return for the latest financial year.
Enforcement action for annual return filing breaches
All companies are required to file their annual returns on time. There is a late lodgement fee of $300 imposed against companies for annual returns filed after the deadline.
We can assist you in your annual return filing process today. Contact us at firstname.lastname@example.org
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