Frequently asked questions
Why do I need to file an annual return?
Under the Companies Act, all Singapore-incorporated companies are required to file annual returns with ACRA to ensure that the company’s information on ACRA’s register is up to date. The company must also submit the date of its annual general meeting (AGM) if it has held its AGM, as well as the company’s financial statements (if applicable). Company officers may face enforcement action for failing to file their company’s annual return.
What is an annual return?
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.
When should I file an annual return?
Generally you should file annual returns within seven months (for non- listed companies) after financial year end.
What happens if I do not file an annual return after the required period?
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. The relevant composition for late holding of the annual general meeting will also be imposed at the point of filing the annual return. You could also be prosecuted in court, and if convicted, be liable to a fine of up to $5,000 and even be disqualified from acting as a director.