We assist with the submission of your Annual Return on your behalf.
Below please find further information and regulations with regards to the Annual returns for companies and close corporations in South Africa under the Companies Act and Close Corporation Act.
Obligation to Lodge Annual Returns
The re-introduction of section 173 to the Companies Act, 1973, became operational on 25 August 2003.The section provides that all companies must lodge an Annual Return with the Registrar. It further requires that this return must be lodged every year, by no later than the end of the month, which follows upon the month within which the anniversary of the company’s incorporation occurs.
If a company fails to lodge its Annual Return and subsequently fails to pay the prescribed fee, a penalty fee is levied on the company. If after successive reminders, the company still fails to lodge and/or pay, the Registrar will, after a six month period, institute deregistration proceedings against the company.
Introduction to Annual Returns: Close Corporation Act No. 69 of 1984
What is the purpose of an Annual Return?
In keeping with legislation, the Registrar of Close Corporations needs to determine whether a registered organisation is still in business and to confirm the Registrar is in possession of the latest information of the close corporation, each close corporation is compelled in terms of the Act to lodge an Annual Return once every year.
When do I need to lodge the close corporation’s Annual Return?
An Annual Return needs to be lodged within the anniversary month of its official incorporation up until the end of the month following its anniversary month.
What will happen if I fail to lodgement the close corporation’s Annual Return?
Should a close corporation fail to lodge and pay for its Annual Returns for a period more than six months the Registrar may conclude that the close corporation is no longer conducting business and may refer it to be deregistered.
What costs and protocols pertain to the lodgement of Annual Returns?
Please contact us to get the costs involved in lodging your returns.