Annual Returns – CIPC Per Annum

R790.00

The CIPC requires all private/ proprietary companies and close corporations to file their annual returns on an annual basis, within a prescribed time period. The purpose for the filing of such annual returns is to confirm whether a company or close corporation is still in business/trading, or if it will be in business in the near future.  The annual return may be regarded as a type of annual “renewal” of the company or close corporation registration.

Therefore, if annual returns are not filed within the prescribed time period, the assumption is that the company or close corporation is inactive, and as such CIPC will start the deregistration process to remove the company or close corporation from its active records. The legal impact of the deregistration process is that the juristic personality is withdrawn and the company or close corporation ceases to exist.

FAQs

How do I file annual returns?

For a small fee, we will help you comply within 24 hours after we have received all the required information for the submission.

 

What will happen if the company or close corporation does not comply with annual returns?

The CIPC will assume that the company or close corporation is inactive, and as such CIPC will start the deregistration process to remove the company or close corporation from its active records. The legal effect of the deregistration process is that the juristic personality is withdrawn and the company or close corporation ceases to exist.

Can annual returns be filed manually?

No.  Annual returns can only be filed electronically via the CIPC Annual Return Website annualreturns.cipc.co.za or CIPC Self Service Terminal.  It should be noted that the CIPC Annual Return Website is mobile and tablet enables and therefore the annual return can be filed using a smart phone or tablet.

When must a company or close corporation file its annual returns?

It is an annual filing and it differs for companies and close corporations.  Companies must file (regardless as to whether it was active or not) within 30 business days starting from the day after its date of registration.  Close corporations must file (again regardless as to whether it was active or not) starting from the first day of the month it was registered up until the month thereafter. It may still file after such period, but an additional penalty fee will be applicable.

If a company or close corporation has filed its tax returns with SARS, is it still required to file annual returns with CIPC?

A clear distinction must be made between an annual return and a tax return.  An annual return is a summary of the most relevant information regarding the company or close corporation and is filed with CIPC while a tax return focuses on taxable income of a company or close corporation in order to determine its tax liability to the State and is filed with SARS.  Compliance with the one does not mean that there is compliance with the other.  It is two different processes, administered in terms of different legislation by two different government departments.

Will the annual return replace the filing of other prescribed or statutory forms?

An annual return is not an amendment form and therefore, the annual return must be followed by the appropriate statutory form(s) to update the CIPC registers after filing, if there are changes to the information on the annual return.  Only the following fields of the company or close corporation are updatable:

E-mail address;

Telephone number;

Cell phone number;

Website address;

Business description; and

Principle place of business.

For more information on how to amend company or close corporation information, kindly refer to the CIPC website www.cipc.co.za / maintain your business.

What is the annual return used for?

Annual returns are used to determine whether the business is still doing business or will be doing business in the future.  If annual returns are not filed, CIPC assumes that the business is dormant and starts the process to remove the business from the register of active businesses.  Also, annual returns may be used to gauge the level of compliance with the Companies Act especially financial reporting.

How will I know when to file?

CIPC does provide e-mail / sms reminders to directors (for companies) and members (for close corporations) PROVIDED that correct contact details have been provided to the CIPC when registering the business or updating its detail.  If CIPC does not have the correct information, reminders cannot be issued.  To confirm the status with annual return filings an AR Fee Calculation can be done via annualreturns.cipc.co.za or by utilising the CIPC USSD functionality.

 

Will my personal detail as a director or member be disclosed on the annual return?

Due to security concerns relating to the disclosure of personal information CIPC has affected the following changes relating to annual returns: Only the first 6 digits of a director’s or member’s identity number will be displayed; and the annual return filing certificate will not display the identity number, addresses, or contact details of a director or member.

What fee should be paid when filing annual returns?

In determining the appropriate fee for the filing of an annual return, a distinction must be made between a company and close corporation filing, and the date on which the annual return became due, since different fee structures are used for companies and close corporations.  Further, in order to determine the year from which the company or close corporation became liable to file annual returns, the roll out date for the specific category of entity must be used together with its registration date.

Table of Fees

 

Can a company or close corporation request exemption for the filing and payment of annual returns?

A company or close corporation is mandated by law to file annual returns annually and therefore, CIPC cannot exempt companies and close corporations from filing/complying with such requirement. The prescribed filing fees for annual returns are legislated, and therefore such cannot be waived by the CIPC.  The CIPC also cannot make arrangements for payment of annual returns in “installments” since the prescribed fee must accompany the filing.  If the prescribed fee does not accompany the filing, the filing is invalidated and must be refiled.

If the company or close corporation was dormant/inactive for an annual return period, should it still file and pay annual returns?

Yes.  The Companies Act, 2008 (and its predecessor Companies Act, 1973) and Close Corporations Act, 1984 does not make a distinction between an active and inactive company or close corporation.  Therefore, even if the company or close corporation was inactive, it is still legally required to file and pay annual returns.

What will happen if the company or close corporation do not file annual returns?

As indicated above, there are cost implications for late filings. Continuous non-filing will result in the company or close corporation being placed into deregistration and eventually being finally deregistered. During the deregistration process or final deregistration, government departments, SARS, banks and other organisations or the service providers of the company or close corporation may refuse to do business with the company or close corporation until such time that outstanding annual returns have been submitted.

Deregistration will be automatically triggered by the CIPC when two or more successive annual returns are outstanding.  During deregistration companies and close corporations will be notified by registered mail or alternative electronic methods of communication of the pending deregistration.  The contact details as per the CIPC records will be used to communicate the business status.  If your contact details are outdated or incorrect, you will not receive such notification. If finally deregistered, the business will have to be re-instated first before it can continue doing business.

How can the reason for deregistration of my company or close corporation be determined?

The request must be logged via the CIPC online enquiry system www.cipc.co.za / enquiries.

Must financial statements be filed with the annual returns?

Companies (except external companies) are required to either file its audited financials, reviewed financials or financial supplement with its annual returns.

All companies (except external companies) and close corporations, if it is required in terms of Companies Regulation 28 read with Companies Regulation 26 to prepare audited financial statements, must file such with CIPC at the same time of filing is annual returns via www.cipc.co.za / e-services / logon using customer code and password / transact / document upload / annual financial statements.

Companies and close corporations that is neither required to file its audited financial statements, nor voluntarily filed its audited financial statements or reviewed financial statements, must file a financial accountability supplement (CoR30.2) after filing its annual returns by completing the online form via the CIPC website www.cipc.co.za / Maintain Your Business / Financial Statements and Independent Review

When must a company file audited financial statements, reviewed financial statements or a financial supplement with its annual returns?

All companies must prepare annual financial statements (“AFS”).  Public and State Owned companies (SOC) must have audited AFS while a Private, Personal liability and Non-Profit company and close corporation is not required to have its AFS audited unless –

in the ordinary course of its business, it holds assets in a fiduciary capacity for persons who are not related to the company, in excess of R5 million in value at any time during the year;

it is a non-profit company and was directly or indirectly incorporated by the state, a state owned company or foreign entity;

it is a non-profit company and was incorporated primarily to perform a statutory or regulatory function in terms of any legislation or to carry out a public function; or

its public interest score in that financial year, as calculated in accordance with Regulation 26 (2), is 350 or more or is at least 100 if its AFS have been internally compiled.

Any other company must have its AFS independently reviewed in accordance with ISRE 2400 unless –

it is exempt, in terms of section 30 (2A) to have its AFS audited for that year or reviewed (every person who is a holder or has a beneficial interest in any securities issued is also a director of the company);

it is required by its own Memorandum of Incorporation (“MoI”) to have its AFS audited; or

it has voluntarily had its AFS audited for that year.

A company or a close corporation that is required to have its AFS audited, as indicated above, must file a copy of its latest approved audited AFS with its annual return while a company or a close corporation that is not required to have its AFS audited as indicated above, may file a copy of its audited, reviewed AFS or a financial accountability supplement  (CoR 30.2) after its annual return.

Which set of financial statements should be used to determine the turnover of the company or close corporation for purposes of filing annual returns?

A company or close corporation must use its latest approved financial statements for purposes of determining the turnover for purposes of filing annual returns.

Will CIPC provide notification of the pending deregistration?

Yes. During the deregistration process notifications are mailed to the company or close corporation’s registered postal address as per CIPC records, informing it of the intended deregistration and a request to either provide confirmation that it is still active or to file outstanding annual returns.  At the time of notification, the company or close corporation’s legal persona is not yet removed.  The notification only serves to inform the company or close corporation of the intention to deregister it, if no objection or filing of annual returns occurs.

Can deregistration be cancelled if the company or close corporation has been placed in deregistration due to annual return non compliance?

Yes.  If deregistration is due to annual return non compliance, deregistration process will be cancelled if all outstanding annual returns are filed while it is still in such status.

WARNING:  The outstanding annual returns must be filed before the date the company or close corporation is finally deregistered.

If a voluntary deregistration, an objection letter must be e-mailed to deregistrations@cipc.co.za.  The objection letter must clearly state the reason for objecting to the deregistration and must be signed by the person who is objecting to the deregistration.  Once signed, it must be scanned in either PDF or TIFF and e-mailed as a single e-mail with all attachments in PDF or TIFF to deregistrations@cipc.co.za.

WARNING:  The objection letter must be submitted to the CIPC before the date the company or close corporation is finally deregistered.  If the company or close corporation was finally deregistered, the company or close corporation must apply for re-instatement.  No supporting documents are required to object to the deregistration.

If the company or close corporation was deregistered for non compliance with annual returns, can the company or close corporation still be re-instated (restored)?

Yes.  Once a company or close corporation has been finally deregistered, the company or close corporation or any third person may apply for re-instatement upon filing of a form CoR40.5 and if required, supporting documents. Upon the processing of the re-instatement application, the status will be changed to “in re-instatement process”.

Should all annual returns be up to date before a close corporation converts to a company?

If a close corporation converts to a company and the conversion application on form CoR18.1 is received on or before the last day before the start of the anniversary month of the close corporation, then the annual return for such year does not need to be filed.  The reason for this is that no obligation has yet arisen for the filing of the annual return for the current year.  All other outstanding years must be brought up to date.

For future filing of annual returns, the anniversary month will then be the month within which the close corporation was converted.

Should the close corporation file its application for conversion within the month of the anniversary of its incorporation or the month thereafter then all annual returns must be brought up to date including the annual return for the current year

Should all annual returns be up to date if the company converts from one category of company to the other?

No.  The company does not have to be up to date with annual returns before converting but it should not be in “deregistration process” or “final deregistered”.  If in “deregistration process” the company must first object to deregistration in writing (if not due to annual return non compliance) or file all outstanding annual returns (if due to annual return non compliance) before applying to convert. If the company is final deregistered it must first be re-instated.  Kindly refer to the Re-instatement section of the FAQ’s for the requirements to apply for re-instatement.

What sections of the legislation governs annual returns?

Companies:

Filing Requirement:

Section 33 of Companies Act

Regulation 30 of Companies Regulations

Deregistration Requirement:

Section 82(3) of Companies Act

Regulation 40 of the Companies Regulations

Re-instatement Requirement:

Section 82(4) of Companies Act

Regulation 40 of the Companies Regulations

Filing of Financial Information:

Section 30 of Companies Act

Regulation 40 (2) – (4) of Companies Regulation

Regulations 28 and 29 of Companies Regulations

Close Corporations

Filing Requirement:

Section 15A of Close Corporations Act

Regulation 16 of the Close Corporations Administrative Regulations

Deregistration Requirement:

Section 82(3) of Companies Act

Regulation 40 of the Companies Regulations

Re-instatement Requirement:

Section 82(4) of Companies Act

Regulation 40 of the Companies Regulations

Filing of Financial Information:

Section 30 of Companies Act

Item 5 of Schedule 5 of Companies Act (relating to the amendments of section 58 of

Close Corporations Act)

Regulation 40 (2) – (4) of Companies Regulation

Regulations 28 and 29 of Companies Regulations

What fee should be paid when filing annual returns?

 

In determining the appropriate fee for the filing of an annual return, a distinction must be made between a company and close corporation filing, and the date on which the annual return became due, since different fee structures are used for companies and close corporations.  Further, in order to determine the year from which the company or close corporation became liable to file annual returns, the roll out date for the specific category of entity must be used together with its registration date.

 

Examples (Companies) Examples (Close Corporations)
The company was registered on 26 June 1995.  If it is a public or external company, its first annual return became due in June 2003.  Therefore, annual returns should have been filed on an annual basis as from June 2004 until June 2011, and should then continue to be filed annually every year thereafter.

 

If the company is a private company, its first annual return became due June 2005.  Therefore, annual returns should have been filed on an annual basis as for June 2005 to June 2011, and every year thereafter.

 

If the company was registered 26 June 2009 and it is any other type of company, the first annual return became due in June 2010.  Therefore, annual returns should have been filed on an annual basis for June 2010 and June 2011, and every year thereafter.

If the close corporation was registered on 26 June 1995, its first annual return became due in June 2009.  Therefore, annual returns should have been filed on an annual basis for June 2009 to June 2011, and every year thereafter.

 

If the close corporation was registered on 26 June 2009, its first annual return became due in June 2010.  Therefore, annual returns should have been filed on an annual basis for June 2010 and June 2011, and every year thereafter.

If the annual return became due 1 May 2011 or thereafter, the fee structure under the Companies Act, 2008 must be used.  If it became due before 1 May 2011 the Companies Act, 1973 fee structure must be used.

 

Companies Act, 1973 fee table:

 

Annual Turnover Private and Incorporated Companies Public Companies External Companies
Less than R10 million R450 R4000 R4000
More than R10 million but less than R50 million R2500 R4000 R4000
R50 million or more R4000 R4000 R4000
Penalty fee for each late lodgment R150 R150 R150
Re-instatement Application (Form CoR40.5) R200

 

Companies Act, 2008 fee table:

 

Annual Turnover Filing within 30 business days after anniversary date Filing more than 30 business days after anniversary date
Less than R1 million R100 R150
R1 million but less than R10 million R450 R600
R10 million but less than R25 million R2000 R2500
R25 million or more R3000 R4000
Re-instatement Application (Form CoR40.5) R200


Close Corporations Act, 1984 fee table:

Annual Turnover Filing within 2 months from beginning of  anniversary month Penalty for each late lodgment
Between 0 to R50 million R100 R150
R50 million and above R4000 R150
Re-instatement Application R200

The fees payable for annual returns can also be determined by consulting the CIPC Annual Return website annualreturns.cipc.co.za / AR Calculator.  For assistance on how to conduct a fee calculation refer to the published step by step guide annualreturns.cipc.co.za / how to guide

 

What is an Annual Return

An annual return is a small yearly fee, paid to the Registrar of Companies, to make certain that your company is still active and to keep it registered. It was implemented to stop thousands of South African companies just becoming dormant

 

Must I pay it?

Yes, you are legally required to pay it every year, on the anniversary of the date that the company was started. If you fail to pay it penalties are added. If you continually fail to pay it your company will become deregistered. This means cease to exist. It is extremely hard to restore your company if this happens.

 

Time it takes?

Annual returns are completed within one business day after receiving payment.

 

 

Our fees are R190 + the CIPC Fees for an Annual Return. Past years that remain unpaid are R100 per year.

 

But I am not using my company?

If your company has no assets and you dont want it any more, then do not pay. It will eventually cease to exist. If you have property, assets or liabilities under this company, you must pay it.  Deregistration under these circumstances will become a great headache to you, and the results can take months to resolve.

 

Notes

 

All companies are required to pay annual returns to CIPC in order to maintain their status as active on the CIPC database. Failure to pay the annual returns will result in your company being deregistered by CIPC followed by the freezing of your bank account. To prevent this from happening, CIPC requires that the annual returns be paid to them on the anniversary date of the company’s inital registration. The CIPC fees are based on the turnover of the company however there may be penalties due for previously outstanding or late returns.

 

What do you mean by annual return?

Annual returns is what we pay to CIPC, to keep the company active, Even if you are not trading or using the company, annual returns must still be paid if you want to use the company in the future. By law all company’s registered through companies and intellectual property commission must pay Annual returns.

 

Do you get reminders to pay your annual returns?

All companies  registered  through  CIPC  is  supposes  to  get  reminders  from  CIPC  either   via email or post. We get many clients who have registered directly with CIPC and other companies and have not received any notification. Our company  SwiftReg   has an automated system, so if you have registered with us we will send you a email and sms reminding you to pay your annual returns, Even if you have not registered your company with us but have submitted annual returns with us we will still send you a sms and email every year with a reminder to pay the annual returns.

 

What is an annual return CIPC?

Annual  returns is a yearly fee that you pay to companies intellectual and property commission to keep the company active. So even if no activities are done on the company you will stay have to pay your annual return. You should not get confused with tax returns to South African Revenue Services and cipc annual returns.

 

When  must  Pty  companies  file annual returns?

Annual returns must be filed by  pty companies within 30 business days after the anniversary date of its incorporation.

 

Must Non profit companies pay annual returns?

Yes, non profit companies must pay annual returns to cipc to keep the company active and in business. At sars non profit companies can be exempted from tax but not annual returns at the companies and intellectual properties commission.

 

What is the advantages of paying your annual returns on time every year?

The advantages are that you do not have to pay any penalty fees or worry that your bank account or assets are dormant and  if you want to go the the bank for a loan, or sell your assets on the companies name there will be no hold ups and everything will run smoothly.

 

When must   Close Corporation companies file annual returns?

Close Corporation companies file within the anniversary month of its incorporation. If the company was registered in September 2017 the annual returns must be paid within the month of September 2018.

 

What happens if the annual returns is not paid on time?

If annual returns is not paid on time cipc charges a penalties fee and if no payment has been paid within six month cipc will deregister the company. If the company is deregistered due to non payment of annual returns the client still has time to pay the annual returns fee and penalties and if still no payment has been made the company will go into final deregistration.

 

If the company goes into final deregistration due to non payment of annual returns you will first have to restore the company which is a very long process once restoration is approved by cipc annual return fees and penalties must be paid, then the status will be changed to in business.

 

What does Annual Returns Final deregistration mean?

Annual returns final deregistration means that the company is closed down by cipc due to the fact that no annual returns  has been submitted and the company must be restored which is a very long and expensive process as well then annual returns must be submitted. If the company does not own a fixed property on the business or never traded on the business it will be better to open a new company.

 

All assets belonging to the company will then belong to the state until you restore and pay up your annual returns. If you have property owned by the company it cannot be sold until annual returns are paid up.

 

What does Annual Returns deregistration process mean?

Annual returns deregistration means that the company is dormant by cipc due to non filing of annual returns. This process is not that complicated, you could just pay up our outstanding fees and penalties per  year and business will be in business and active again.

 

Where can I pay my annual returns?

You can pay your annual returns directly with cipc via there website by creating your own user name and password, or you can use a professional company like Swiftreg or any authorised representative to do your annual returns, guaranteed a annual return lodgement and certificate on receipt on completion by swiftreg.

 

Why must I pay annual returns?

Annual returns must be paid if you want to trade on your business as companies intellectual property commission will deregister the company whether you are trading or not.

 

If my annual returns is no paid on time what will happen to my company?

If the annual returns are not paid on time you will have to pay annual returns penalty fees to cipc, if you still not paying the company will eventually be closed down by cipc.

 

When are annual returns due?

Annual returns are due every year on the companies anniversary date. The anniversary date is the date the company was registered by cipc for example if the company was due in January 2018 the company will only be due to pay annual returns in January 2019.

 

How long does it take for annual returns to be submitted?

If we have all the necessary information and we submit the annual returns the status will be active or in business immediately, however  we still have to await the certificate to be emailed to us within twenty four to forty eight hours from cipc. If it’s in final deregistration and we submit all the relevant documents required from cipc. The restoration will take one to two week to be approved by cipc and take out of final deregistration putting it into deregistration process where you have to now file your annual returns.

 

How do you calculate annual returns?

Annual returns is calculated by the amount of turnover the company has and depends on what type of company it is for example Close corporation, PTY, Non profit companies, Incorporations and Co-operatives and if it is in the old or new act. The turnover for the annual returns is calculated on the last financial year and not the calendar year so that there is no confusion with tax returns and annual returns. nnual return turnover for the old companies act in 1973 turnover Less than ten million is four hundred and fifty rand, turnover more than ten million but less than fifty million fee Is two thousand five hundred rand and turnover  fifty million and more is four thousand rand. Annual returns turnover fee under the Close corporation Act in 1984 Turnover less than fifty million is one hundred rand, Fifty million and more is four thousand rand.

 

Annual returns turnover fees in the New Companies act 2008 less than one million paid in thirty business days is one hundred rand. Less than one million paid after 30 business days is one hundred and fifty rand. One million but less than ten million paid within 30 business days is four hundred and fifty rand. One million but less than ten million paid after 30 business days is six hundred rand. Ten million but less than twenty five million paid within 30 business days is two thousand rand. Ten million but less than twenty five million paid after 30 business days is two thousand five hundred rand. Twenty five million and more paid within 30 business days is three thousand rand. Twenty five million and more paid after 30 business days is four thousand rand.

 

What is the disadvantage of not paying your annual returns?

If failure to pay your annual returns the bank s freezers your business bank account and no money can be withdrawn or no loans can proceed. If you bought a property on your business and annual returns not up to date the property is frozen until annual return are paid up. No change can be made on companies like changing member or name change of business until annual returns are up to date. Purchasing of a business vehicle cannot be bought if annual returns are not up to date and you cannot renew your vehicle licence if annual returns are not up to day.

 

What documents are necessary to prove that your company was in business after the company was deregistered due to non filing of annual returns?

The information required by CIPC is certified identity copies of each director if a PTY or non profit company or identity copies of members if it’s a close corporation company. We will also need and deed search reflecting if the company own a fixed property or not from the nine provinces of South Africa. If the company does own a fixed property we will need a letter from the national treasury and the department of public works. You will also have to place and advertisement in the local newspaper giving twenty one days notice of the proposed application of non filing of annual returns. CIPC require a full page reflecting the name of the news paper and date.

 

We also need an affidavit giving the reason why annual  returns  was not submitted. We also need proof that the company was in business after the time of deregistration, like a bank statement, invoices. If the company was not trading and company is close and you have no proof of trading like invoices and statements, CIPC will not re-instate the company.

 

Can  the  annual  returns  be exempted like the tax returns?

No the annual returns cannot be exempted for companies and close corporation   because by law annual returns must be paid.

 

Can annual returns be paid off like other accounts?

No, annual returns cannot be paid off like other accounts, it must be the full amount required or due by cipc .No arrangement can be made. If you do not have the full amount no annual returns can be submitted.

 

What  is  the  difference  between  annual returns and tax returns?

A annual return is a renewal of the company every year to be paid by cipc, it is like your television licence you pay every  year. A  tax return is the tax liabilities of the company paid to South African Revenue Services.

 

This is two different government departments. Many clients think if they pay annual returns there tax returns are sorted as well and the same if the pay tax returns they think the annual returns are sorted.

 

Must the company be active and in business if you want to do any changes on a close corporation and a PTY?

Yes the company must be in business, even if you owe one year outstanding annual returns and the status shows in business, changes can be made. However if the company shows deregistered or final de-registration annual returns and reinstatement must be done before you can do a conversion  or any other changes on the company.

 

Who must remind you to pay annual returns?

Companies Intellectual and property commission must remind you every year to pay your outstanding annual returns, If  you  have an accountant doing  your  books  they  will pick it up as well. If you dealing with business bank accounts the banks can also remind you to pay annual returns. Any other professional company doing your annual returns can also send you a courtesy email reminding you regarding your annual returns .

 

What is Annual Returns financial Accountability Supplement?

Annual  returns  financial  accountability supplements of the company is a statements and reports of the company. Annual returns financial Accountability Supplements must be submitted with each annual return submitted to cipc every year.

 

Requirements needed to file Annual Returns Accountability Supplements?

The name of  the person responsible for recording of all day to day transactions of the business.  The identity  number  of the person responsible for recording of day to day transactions. If financial records  are  being  kept manually or electronically. Indicating how the statements and income balance sheets is prepared for example Monthly, Quarterly, Annually. If the company does stock taking and which month it is done.

 

Requirements needed to file Annual Returns Accountability Supplements?

Yes, annual  returns must be paid every year even if you not trading and have a nil return it must still be paid if you want to use the company at a later stage.

 

What If I don’t want to pay my annual returns?

If you don’t want to pay your annual returns CIPC will deregister your company and then close it down after a few years if no payment has been received.

 

How do I close my company?

You can contact companies and intellectual property commission to close your company, alternatively you can ignore paying your annual returns to CIPC and the company will be close down.

 

Can annual returns be submitted before the anniversary date?

No, annual returns cannot be submitted before the anniversary date .As  CIPC  annual returns cannot be paid before the time as it will show no returns due.

 

What is the difference between Company  annual  returns   and  Coida Annual Returns?

Coida annual returns is annual returns of Earnings (ROE) to the compensation fund and done at the labour department. Coid annual returns must be done every year .

 

Company  annual  returns  is  calculated on the companies  turnover  and  each  year of registration.  Company annual returns  is submitted to cipc (Companies Intellectual Property Commission).

Should all CC’s/Companies submit Annual Returns even if the entity has not conducted in any trade?

Yes, a CC/Company must submit an annual return to CIPC (CIPRO) annually within 1 month after it’s anniversary.

From what year should annual returns be lodged?

As from September 2008 for Close Corporations and from 2005 for Companies.

What happens if a CC/Company fails to submit a annual return?

The entity will be referred for deregistration and then eventually de-registered from CIPC (CIPRO’s) database which can mean that bank accounts will be frozen, no credit can be applied for etc. In essence the CC/Company can no longer trade if de-registered.

What happens if my CC/Company is already de-registered?

The CC/Company needs to be restored and a prescribed fee paid to CIPC (CIPRO). After a CC/Company has been restored it needs to bring all annual returns up to date or it will be placed in de-registration again. You can restore a de-registered CC/Company here.

How long does this process take?

You will receive a certificate of submission within 48 hours from placing your order.

What if I am not sure if there are any outstanding annual returns with CIPC for my CC/Company?

You can send an e-mail to info@myfinance-online.co.za to enquire about the status of your CC/PTY.

Are there any additional costs involved?

No, these fees are inclusive of all CIPRO fees and therefore NO EXTRA FEES are payable.

Is this the same as SARS income tax returns?

No, it is totally different from SARS returns which must also be filled annually. For more info on income tax and tax returns you can CLICK HERE

Category:

Description

The CIPC requires all private/ proprietary companies and close corporations to file their annual returns on an annual basis, within a prescribed time period. The purpose for the filing of such annual returns is to confirm whether a company or close corporation is still in business/trading, or if it will be in business in the near future.  The annual return may be regarded as a type of annual “renewal” of the company or close corporation registration.

Therefore, if annual returns are not filed within the prescribed time period, the assumption is that the company or close corporation is inactive, and as such CIPC will start the deregistration process to remove the company or close corporation from its active records. The legal impact of the deregistration process is that the juristic personality is withdrawn and the company or close corporation ceases to exist.

Reviews

There are no reviews yet.

Be the first to review “Annual Returns – CIPC Per Annum”

Your email address will not be published. Required fields are marked *