This is a short post about the CIPC annual return which is compulsory for companies to complete.
Companies need to file their returns annually. This date is within 30 business days starting from the day after its registration date.
Close corporations need to file their returns annually. The required time period starts from the first day of the month that the company was registered up until the month thereafter.
You can still file your annual return after the due period, but then you have to pay an extra penalty fee.
The due date of your return falls on the anniversary of the date you registered your company.
The purpose for the filing the CIPC annual return is to confirm that the company is still in business. (Or if it will be in business in the near future). The CIPC annual return may be regarded as a type of annual “renewal” .
Therefore, if your company’s annual returns are not filed within the prescribed time period, CIPC will assume that the company is inactive. CIPC will therefor start the de-registration process to remove the company from its active records.
The legal effect of the de-registration process is that the company ceases to exist.
You can file your annual electronically via the provided application on the CIPC website.
I will assist you to register a company or filing your annual CIPC return – contact me.
You need to provide the correct contact details of your directors when registering your company. CIPC does provide reminders to directors PROVIDED that correct contact details.
If de-registration is due to annual return non compliance then the de-registration process will be cancelled if all outstanding annual returns are filed while it is still in such status.
Credit to the CIPC website for some of the information I used in this article.