Singapore Company Secretarial Filings: A Step-by-Step Guide to Meeting the Filing Deadlines
Singapore is a popular destination for businesses, with its business-friendly environment and attractive tax incentives. However, with the numerous regulatory requirements and filing deadlines, company secretaries and directors may find it challenging to keep up with the compliance requirements. In this article, we will provide a step-by-step guide to help you meet the filing deadlines and ensure compliance with the Singapore Companies Act.
Step 1: Register Your Company
The first step in company secretarial filings is to register your company with the Accounting and Corporate Regulatory Authority (ACRA). You can do this online through the BizFile+ portal or through a registered filing agent. You will need to provide the required documents, including the company’s constitution, share register, and director’s consent.
Required Documents:
- Company’s constitution (Memorandum and Articles of Association)
- Share register
- Director’s consent
Step 2: File Annual Returns
Every year, companies are required to file annual returns with ACRA. The annual return must be filed within 30 days of the company’s anniversary date. The annual return must include the company’s financial statements, director’s report, and auditor’s report (if applicable).
Required Documents:
- Financial statements (Balance Sheet, Income Statement, and Cash Flow Statement)
- Director’s report
- Auditor’s report (if applicable)
Step 3: File Financial Statements
Companies are required to file financial statements with ACRA within 6 months of the company’s financial year-end. The financial statements must be audited by a certified public accountant (CPA) or a certified chartered accountant (CCA) if the company’s annual revenue exceeds SGD 10 million.
Required Documents:
- Financial statements (Balance Sheet, Income Statement, and Cash Flow Statement)
- Auditor’s report (if applicable)
Step 4: File Notice of Change
Companies are required to file a notice of change with ACRA within 14 days of any changes to the company’s constitution, directors, or shareholders. The notice must include the details of the changes, including the name and address of the new director or shareholder.
Required Documents:
- Notice of change
- Consent of new director or shareholder
Step 5: File Notice of Appointment of Auditor
Companies are required to file a notice of appointment of auditor with ACRA within 28 days of the appointment of a new auditor. The notice must include the name and address of the new auditor.
Required Documents:
- Notice of appointment of auditor
- Consent of new auditor
Conclusion
Meeting the filing deadlines and ensuring compliance with the Singapore Companies Act can be a daunting task for company secretaries and directors. However, by following the step-by-step guide outlined above, you can ensure that your company is in compliance with the regulatory requirements. Remember to keep accurate records and file the required documents on time to avoid any penalties or fines.
FAQs
Q: What is the penalty for late filing of annual returns?
A: The penalty for late filing of annual returns is SGD 200 for the first 30 days, SGD 400 for the next 30 days, and SGD 800 for each subsequent 30-day period.
Q: What is the penalty for late filing of financial statements?
A: The penalty for late filing of financial statements is SGD 400 for the first 6 months, SGD 800 for the next 6 months, and SGD 1,200 for each subsequent 6-month period.
Q: What is the deadline for filing notice of change?
A: The deadline for filing notice of change is 14 days from the date of the change.
Q: What is the deadline for filing notice of appointment of auditor?
A: The deadline for filing notice of appointment of auditor is 28 days from the date of appointment.
Q: Can I file my company’s documents online?
A: Yes, you can file your company’s documents online through the BizFile+ portal or through a registered filing agent.
