Company Annual Return Filing with ACRA
Annual Return – Under Section 197 of the Companies Act (Cap. 50), every company with share capital is required to file a return annually containing its particulars, with the Accounting and Corporate Regulatory Authority (ACRA). This annual return is to be filed with ACRA no later than five months for listed companies or seven months for other companies after the end of its financial year. Also, unless the company has dispense with the Annual General Meeting (AGM), the company must hold its AGM before filing the annual return.
The AGM must be held within 6 months from the date of the end of financial year for unlisted companies.
There will be penalty imposed on companies for breaching the relevant sections of the Companies Act such as S175 (AGM held late), S197 (AR lodge late), S201(1) (Financial Statements laid at AGM is more than 6 months). The penalty will range from $300 to $900 depending on the sections which are in default.
ACRA may also take further enforcement action on companies and/or on the directors of the companies by disqualify directors, under S155 of the Companies Act for breaching the filing requirements. Once an individual has been disqualified, he/she cannot be a company director of any local company or foreign company for five years
If you have not appointed us as your Company Secretary and you would prefer us provide the Annual Return Filing service as a “one-time” engagement or to prepare the company’s financial statement, we do render such ad-hoc assignments.
- Change in the name of the company
- Change of address of the registered office of the company
- Change in the share capital
- Transfer of shares
- Change of the company’s principal business activities
- Change of particulars of the officers of the company
- Conversion of company type, either from private limited to public or vice versa
EnterpriseBizpal.com can help your company by preparing the required documentation for the changes and file it with the ACRA.