Welcome to our guide on how to file annual returns on CIPC. The Companies and Intellectual Property Commission (CIPC) requires all registered companies in South Africa to file annual returns every year. Filing these returns on time ensures that your company remains in good standing with the CIPC and avoids facing legal action that might lead to automatic de-registration of your company.
The Annual Return Process
The annual return process is a legal obligation that all companies have to comply with. A company's annual return is a snapshot of the company's information in the CIPC records. Every year, companies are required to submit an annual return to the CIPC, which includes details such as:
- Company name and registration number
- Registered address
- Director information
- Financial information
- Details of members or shareholders
How to File Annual Returns on CIPC
Here are the steps to follow when filing annual returns on CIPC:
- Log in to the CIPC website using your registered user ID and password.
- Click on the 'File Annual Returns' option on the left-hand side of the screen.
- Select the name of the company for which you want to file annual returns.
- Confirm the company's details including the registered address and financial year end.
- Enter the necessary financial information such as turnover, assets, liabilities, and net profit before tax.
- Confirm or update the company's director information.
- Submit the annual return and pay the prescribed fee.
Points to Note When Filing Annual Returns on CIPC
When filing annual returns on CIPC, here are some essential points to note:
- The company's financial statements need to be audited by an independent auditor, except for companies that meet certain criteria.
- The Annual Return must be filed within 30 working days of the anniversary date of the company's registration.
- Filing of annual returns can be done online via the CIPC portal or at a CIPC self-service terminal.
- Filing annual returns late incurs penalties, and if these penalties remain unpaid, the CIPC may initiate the deregistration process.
- Finally, if a company fails to file annual returns for two consecutive years, it may result in automatic deregistration.
In Conclusion
In conclusion, filing annual returns on CIPC is a mandatory obligation that all South African companies have to comply with. Failure to file annual returns on time can lead to severe consequences, including a company being de-registered, and the directors facing criminal charges. Therefore, all directors and company secretaries must ensure that annual returns are filed promptly.
