• Mar 01, 12
  • Statucor

The Companies and Intellectual Property Commission (CIPC) would like to accommodate customers in submitting the annual returns later than what the Acts require due to the system developments. The CIPC is waiving the late filing fee and penalties for annual returns on both companies and close corporations. The waiving of penalties and late filing fees are applicable for annual returns which became due for the current CIPC financial year that is from 1 April 2011 until 31 March 2012.

Customers are advised to submit annual returned before 31 March 2012 in order to qualify for this waiver. Any penalties that became due before 1 April 2011 for not qualify for this waiver. Any penalties that become due before 1 April 2011 do not qualify for this waiver.

The CIPC is also increasing the filing (compliance) period for annual returns becoming due from 1 April 2011 until 31 July 2011 with an additional 60 business days to a total of 90 business days. Due to the fact that the compliance period has been extended from 30 to 90 business days, the CIPC may only issue a compliance notice or refer for deregistration due to non-compliance with annual returns after such period.

The CIPC is aware of the frustrations caused by the delay in processing restoration applications. In order to accommodate customers that were deregistered for annual return non-compliance on 16 July 2010 and 23 February 2011 an automated restoration application has been made available for customers to lodge restorations electronically. The fee for the restoration is R200 and a company or close corporation will be restored after 24hours. In the interim CIPC is processing the existing applications that were received manually was well.

The current CIPC platform cannot accommodate the uploading of documentation to electronically submitted applications, especially financial statements on annual returns. The CIPC is waiving the filing of financial statements and supplements on annual returns up until 31 March 2012. Public companies and state owned companies are still required to submit these applications via a dedicated email address. This email address will be communicated shortly.

Adv Rory Voller – Acting Commissioner