As a Singapore company, it is essential to understand the importance of company secretarial filings and the deadlines that come with them. Failure to meet these deadlines can result in penalties, fines, and even deregistration of your company. In this article, we will provide a comprehensive guide to help you navigate the complex world of company secretarial filings and ensure compliance with the relevant regulations.
What are Company Secretarial Filings?
Company secretarial filings refer to the various documents and information that a Singapore company is required to file with the Accounting and Corporate Regulatory Authority (ACRA) and other relevant authorities. These filings are necessary to ensure that the company remains compliant with the relevant laws and regulations, and to provide stakeholders with accurate and up-to-date information about the company’s financial and operational status.
Types of Company Secretarial Filings
There are several types of company secretarial filings that a Singapore company must make, including:
- Annual Returns (Form C7): This form must be filed annually within 30 days of the company’s anniversary date, and provides ACRA with information about the company’s shareholders, directors, and financial position.
- Changes to Share Capital (Form 60): This form must be filed within 14 days of any changes to the company’s share capital, including changes to the number of shares, share class, or share value.
- Changes to Directors and Secretaries (Form 45): This form must be filed within 14 days of any changes to the company’s directors or secretaries, including appointments, resignations, or changes to their personal details.
- Changes to Shareholders (Form 45): This form must be filed within 14 days of any changes to the company’s shareholders, including changes to their personal details or changes to their shareholdings.
- Notice of Change of Registered Office (Form 45): This form must be filed within 14 days of any changes to the company’s registered office, including changes to the address or name of the registered office.
- Notice of Change of Business Activities (Form 45): This form must be filed within 14 days of any changes to the company’s business activities, including changes to the nature of the business or the location of the business.
Consequences of Non-Compliance
Failure to file the required company secretarial documents and information on time can result in severe consequences, including:
- Penalties: ACRA may impose penalties on the company and its directors for non-compliance, which can range from SGD 200 to SGD 2,000.
- Fines: The company and its directors may also be liable for fines, which can range from SGD 1,000 to SGD 10,000.
- Deregistration: In extreme cases, ACRA may deregister the company if it fails to comply with the filing requirements, which can result in the company being struck off the register and its assets being forfeited.
How to Stay Compliant
To stay compliant with the company secretarial filing requirements, it is essential to:
- Keep accurate and up-to-date records of the company’s financial and operational status.
- File all required documents and information on time, including annual returns, changes to share capital, directors, and shareholders, and notice of changes to the registered office and business activities.
- Appoint a qualified company secretary who is responsible for ensuring compliance with the filing requirements.
- Monitor and review the company’s compliance status regularly to ensure that all required filings are up-to-date and accurate.
Conclusion
Company secretarial filings are a critical aspect of running a successful Singapore company. Failure to comply with the filing requirements can result in severe consequences, including penalties, fines, and even deregistration. By understanding the types of company secretarial filings required, the consequences of non-compliance, and the steps to stay compliant, you can ensure that your company remains compliant with the relevant regulations and avoids any potential penalties or fines.
FAQs
Q: What is the deadline for filing annual returns?
A: The deadline for filing annual returns is within 30 days of the company’s anniversary date.
Q: What is the penalty for late filing of annual returns?
A: The penalty for late filing of annual returns is SGD 200.
Q: What documents must be filed with the annual return?
A: The annual return must be accompanied by a copy of the company’s financial statements, a statement of changes in equity, and a statement of cash flows.
Q: Who is responsible for ensuring compliance with company secretarial filing requirements?
A: The company secretary is responsible for ensuring compliance with company secretarial filing requirements.
Q: What are the consequences of failing to file changes to share capital?
A: Failure to file changes to share capital can result in penalties, fines, and even deregistration of the company.
Q: How often must the company’s registered office be changed?
A: The company’s registered office must be changed whenever the company moves to a new location or changes its name.
Q: What is the penalty for late filing of changes to directors and secretaries?
A: The penalty for late filing of changes to directors and secretaries is SGD 1,000.
Q: What is the penalty for late filing of changes to shareholders?
A: The penalty for late filing of changes to shareholders is SGD 1,000.
Q: What is the penalty for late filing of notice of change of registered office?
A: The penalty for late filing of notice of change of registered office is SGD 1,000.
Q: What is the penalty for late filing of notice of change of business activities?
A: The penalty for late filing of notice of change of business activities is SGD 1,000.
