In South Africa, the Companies and Intellectual Property Commission (CIPC) requires all registered companies and close corporations to submit annual returns. This process is crucial for keeping the CIPC updated with the latest information about your business and confirming its continued existence.
Here's a guide to the process of submitting annual returns to the CIPC
Purpose: Annual returns provide the CIPC with the latest information regarding your company or close corporation and confirm that it is still in business. Frequency: These returns must be filed annually, within a specific period after the anniversary of the company or close corporation’s date of registration.
We will need Financial Statements or Financial Accountability Supplement (FAS): Depending on the size of your business, you will either submit audited financial statements or complete a financial accountability supplement form (CoR30.2).
The filing fee for annual returns depends on your company’s turnover during the financial year. We will calculate the fee for you using the CIPC fee chart.
We will file the Annual returns via our CIPC eServices professional account
Late submissions are subject to penalties. If left unpaid, it may lead to the deregistration of the company or close corporation.
Annually review and prepare for your submission in advance to avoid last-minute issues or penalties.
Filing annual returns is a mandatory requirement for maintaining your company or close corporation’s good standing and legal compliance. If you are unsure about any aspect of the process, consider consulting a financial professional or legal advisor with experience in South African corporate law.
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