Annual Return
Singapore companies are required to submit an annual return to the Accounting and Corporate Regulatory Authority (ACRA) after the annual general meeting, per the Singapore Companies Act (S175, S197, and S201).
Frequently asked questions
During the annual review process, companies are required to submit updated information to ACRA, which includes important details about the company, such as the names of the directors, the secretary, its members, and the date on which the company’s financial statements were prepared.
Company information, such as company type, business scope, registered address, the personal information of the important members of the company, creditor registration, and other information that is subject to changes.
Shareholding information, such as the type of shareholding, the number of shares, issued shares, paid-up capital, etc.
Financial reports of the company.
Time of the company’s annual general meeting (if applicable).
After the successful filing of the Annual General Meeting, an updated Bizfile needs to be saved
***In the case of dormant companies, the company will still need to file tax returns with the Inland Revenue Authority of Singapore (IRAS) after a successful annual audit filing.
Under the Singapore Companies Act, every Singapore company is required to file an annual return filing with the relevant government agency every year. These annual return requirements are mandatory and include the following:
Preparation of accounts, completing the company’s accounts for the previous financial year in accordance with Singapore Accounting Standards.
Prepare the company’s financial report per the Singapore Financial Reporting Standard (SFRS).
Convene the Annual General Meeting (AGM) of the company. If the company is eligible, it can also apply to not hold an Annual General Meeting. It may choose to circulate the financial statements to the directors for signing instead.
The signing of resolutions, declarations, and other relevant documents by the directors of the company for the annual audit.
Submission of the application for the Annual General Meeting to ACRA with the relevant documents.
After the annual audit, download and file the latest Bizfile, the company’s registration document.
***Once the annual return is completed, do not forget to file the appropriate tax returns with the tax authorities.
In accordance with the relevant provisions of the Singapore Companies Act Cap 175, 197, 201, a company whose financial year ends after 31 August 2018 is required to file its annual return on time.
For newly registered companies, the first financial year must end within 18 months. The financial year of a company in Singapore is calculated on the basis of 12 natural months.
After the end of the company’s financial year:
Listed companies :
Must hold a general meeting of shareholders of the company within 4 months.
The annual return must be submitted within 5 months.
Unlisted companies.
The general meeting of shareholders must be held within 6 months.
The annual return must be submitted within 7 months.
Based on actual operating conditions and experience, to avoid incurring unnecessary delays or penalties, SWIFT strongly advises companies to complete the company’s bookkeeping and annual audit process early.
Companies are required to file an ECI with the IRAS, which must be filed within 3 days after the end of the company’s fiscal year. Therefore, the company needs to complete its accounts before the tax return is due.
Once the company has completed its financial statements, the directors must sign off on them. If the company chooses not to hold a general meeting, the documents need to be circulated to each shareholder and director, so that they may sign off on them. This process may take some time.