Why submit an Annual Return?
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
Annual returns
What is an Annual Return?
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.
CIPC Compliance Checklist
South Africa’s Companies and Intellectual Property Commission (“CIPC”) has introduced a new requirement when lodging annual returns in the form of a Compliance Questionnaire. This form is a mandatory form.
Annual returns.
What happens if I don’t submit an Annual Return?
Non-compliance with annual returns may lead to deregistration, which has the effect that the juristic personality is withdrawn and the company or close corporation ceases to exist.
Annual Return Payment Calculator
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.
Annual Return Payment Calculator
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 |
Calculate your companies public interest score
Companies that must have Annual Financial Statements audited
The following private companies are required to have their annual financial statements audited:
Exceeds R5 million
Any private or personal liability company if, in the ordinary course of its primary activities, it holds assets in a fiduciary capacity for persons who are not related to the company, and the aggregate value of such assets held at any time during the financial year exceeds R5 million;
(PIS) of 100 or more
Any private or personal liability company that compiles its financial statements internally (for example, by its financial director or one of the owners) and that has a Public Interest Score (PIS) of 100 or more;
(PIS) of 350 or more
Any private or personal liability company that has its financial statements compiled by an independent party (such as an external accountant) and that has a Public Interest Score (PIS) of 350 or more;
Memorandum of Incorporation (MOI)
Unless the company has opted to have its annual financial statements audited or is required by its Memorandum of Incorporation (MOI) to do so, a private or personal liability company that is not managed by its owners may be subject to independent review if:
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- It compiles its financial statements internally and its Public Interest Score is less than 100;
- It has its financial statements compiled independently at its Public Interest Score is between 100 and 349;
Contact Statucor should you require assistance you with lodging the annual return of your company.
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
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