Filing Annual Returns
All Singapore-incorporated companies are required to file annual returns with ACRA to ensure that the company’s information 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.
It is the responsibility of the directors to fulfill these statutory obligations; to ensure that the company holds its Annual General Meeting (AGM) and that Annual Return (AR) is filed after the company’s financial year end (FYE).
What is an Annual General Meeting?
An AGM is a mandatory annual meeting of shareholders (also known as “members”). At the AGM, your company will present its financial statements (also known as "accounts") before the shareholders so that they can raise any queries regarding the financial position of the company.
Listed companies are to hold the AGM within 4 months after FYE, while any other company is to hold their AGM within 6 months after FYE.
What is an Annual Return?
Annual Return is filed electronically and it contains important information about the company such as the name of the directors, the secretary, its shareholders (also known as members), and the date to which the financial statements of the company are made up. Annual Return provides critical information that helps the company’s stakeholders to make informed decisions.
Listed companies are to file AR within 5 months after FYE, and for all other companies, within 7 months after FYE.
Can a company apply for an extension of time to hold the AGM and to file an Annual Return?
A company can apply for an extension of time of up to 60 days if it needs to delay holding the AGM or filing the Annual Return. The application must be submitted to ACRA 14 working days before the actual deadline.
The application can be made by a director, secretary, or by a professional firm on behalf of the company.
Why Accmaster is a good choice to be your corporate service provider?
Accmaster is committed to giving your company a high compliance rating. We do this by constantly sending compliance alerts and reminders to the directors to ensure that the necessary documents are completed before the filing due date.
One of our focus areas is to innovate technology and streamline processes. To ensure that up-to-date and correct information is filed to ACRA, we use software solutions that automate the preparation and filing of Annual Return as well as Financial Statements with ACRA. Our software automatically generates the annual returns and is linked to ACRA’s Bizfile portal. We implemented the electronic signing that will ease the directors and shareholders the hassle of paper signing.
Speak to us to know more about the small company concept, exemptions from holding AGM, filing annual returns for dormant companies, and more about compliance matters.
