An annual return is a statutory return in terms of Section 165 of the Companies and Other Business Entities Act (Chapter 24:31) and provides the Companies Registry with up-to-date key information about your company.
Who should file Annual Return?
Section 165 (1) Subject to subsection (2), every company shall make and file with the Registrar an annual return consisting of a summary, in the form contained in the Fourth Schedule (“Form of annual return of company”)
What information should be filed on the return?
When to submit Annual Returns
An annual return should be submitted once every 12 months, usually by the same date each year. The first annual return date is 12 months after the company’s date of registration (the ‘date of incorporation’) asstated on your certificate of incorporation
Is there grace period allowed?
Section 165 (2) The annual return of a company must be submitted within twenty-one (21) days of the anniversary date of its incorporation, registration or re-registration (in terms of section 303).
Any legal consequences for defaulting?
Section 165 (7) If the company makes default in complying with any of the requirements of this section the company and every officer of the company who is in default shall be liable to a category 3 civil penalty.
At Prodigies we can help you avoid civil penalties and litigations by keeping a calendar of these due dates for each and every one of our clients. Engage us so that we can also help you file your annual returns with the Registrar of Companies.