All companies (including external companies) and close corporations are required by law to lodge their annual returns with CIPC every year during the anniversary month of their incorporation
An annual return is a statutory return in terms of the Companies and Close Corporations Acts. Failure to do so will result in the Commission assuming that the company and/or close corporation is not doing business or is not intending on doing business in the near future.
Non-compliance with annual returns may lead to deregistration, which has the effect that the juristic personality is withdrawn and the company or close corporation ceases to exist.
The annual return payment due to CIPC is calculated as follows:
|Where the turnover is:||Amount Payable to CIPC|
|Between R1 million and R10 million||R 450.00|
|Less than R1 million||R 100.00|
|Between R10 million and R25 million||R 2 000.00|
|Above R25 million||R 3000.00|
Should the company or close corporation fail to lodge the annual return on time penalties will be imposed by the Commission (CIPC)
It is also a requirement that Private or personal liability companies that are required to be audited by the Companies Act, 2008 or regulation 28, must file a copy of the latest approved Audited Financial Statements on the date that they file their annual return with the CIPC.
The following private companies are required to have their annual financial statements audited:
Private or personal liability companies that are not required to have their financial statements audited, may elect to voluntarily file their audited or reviewed statements with their annual returns. If such companies choose not to file a full set of financial statements, they must file a financial accountability supplement with their annual return