Staying Compliant in Singapore: A Guide to Company Secretarial Filing Deadlines and Requirements
As a Singapore-registered company, staying compliant with the regulations and filing deadlines is crucial to avoid penalties, fines, and even deregistration. In this guide, we will walk you through the key company secretarial filing deadlines and requirements to help you stay on top of your compliance obligations.
Annual Return (AR)
The Annual Return (AR) is a key filing requirement for Singapore companies. The AR needs to be filed with the Singapore Registrar of Companies (ROC) within 30 days after the anniversary date of the company’s incorporation.
- Contents: The AR should include the company’s name, registered address, business activities, and details of directors, secretary, and shareholders.
- Penalties: Failure to file the AR on time attracts a penalty of SGD 150 to SGD 300.
Financial Statements
Singapore companies must file their financial statements with the Accounting and Corporate Regulatory Authority (ACRA) within 5 months after the financial year end. The financial statements must include the balance sheet, income statement, and notes to the accounts.
- Form 4 (Financial Statements) must be filed electronically through the BizFile+ portal.
- Penalties: Failure to file the financial statements on time attracts a penalty of SGD 300 to SGD 2,000.
Corporate Tax Filing
Singapore companies are required to file their corporate tax returns with the Inland Revenue Authority of Singapore (IRAS) within 3 months after the financial year end. The tax return should include the company’s income statement, balance sheet, and notes to the accounts.
- Penalties: Failure to file the corporate tax return on time attracts a penalty of SGD 30 to SGD 1,800.
Other Filing Requirements
Aside from the AR, financial statements, and corporate tax return, Singapore companies have other filing requirements, including:
- Charge Filing: Companies must file a charge on the ROC’s portal within 30 days of the creation or variation of a charge.
- Statutory Declaration: Directors and secretaries must file a statutory declaration within 30 days of taking up office.
- Notices of Appointment and Resignation: Companies must file notices of appointment and resignation of directors and secretaries with the ROC within 15 days of the change.
Consequences of Non-Compliance
Failure to comply with company secretarial filing deadlines and requirements can result in serious consequences, including:
- Fines and Penalties: Non-compliance attracts fines and penalties, which can range from SGD 150 to SGD 2,000 or more.
- Deregistration: Non-compliance may lead to deregistration of the company, resulting in the company’s assets and liabilities being dissolved.
- Loss of Business Opportunities: Non-compliance may impact a company’s credibility and reputation, leading to lost business opportunities.
Conclusion
Staying compliant with company secretarial filing deadlines and requirements is essential for Singapore-registered companies. Failure to comply can result in serious consequences, including fines, penalties, deregistration, and loss of business opportunities. In this guide, we have highlighted the key filing requirements and deadlines to help companies stay on top of their compliance obligations.
FAQs
- Q: What is the penalty for failure to file the Annual Return on time? A: The penalty is SGD 150 to SGD 300.
- Q: What is the deadline for filing financial statements? A: The deadline is 5 months after the financial year end.
- Q: What are the consequences of non-compliance with company secretarial filing requirements? A: Failure to comply may result in fines, penalties, deregistration, and loss of business opportunities.
- Q: Can companies file their Annual Return and financial statements electronically? A: Yes, companies can file their Annual Return and financial statements electronically through the BizFile+ portal.
