Annual Returns – Completion and Submission
Biz Facility, announces a new service to clients – the compilation and submission and Annual Returns for both companies and close corporations.
The Companies Act of 2008 requires that every juristic persons (companies and close corporations) are required to submit their annual return to CIPC, within 30 days from the annual anniversary date of the entity’s registration.
Additionally, the return must be accompanied by the entities approved AFS (annual financial statements) and PIS (Public Interest Score) calculation.
*Failure to provide this submission, will result in your entity being deregistered by CIPC.
Biz Facility will provide this service to clients on receipt of the template below.
Our fees, detailed below, are exclusive of late submissions, as a result of client missing the deadline, and will be invoiced separately. Late submission fees range between R 150,00 and R 1,000,00 per submission.
- Turnover < R 50m: Fee of R 800.00
- Turnover > R 50m: Fee of R 4,900.00
- Turnover is < R 1m: Fee of R 800.00 li>
- Turnover is > R 1m, but less than R 10m: Fee of R 1,250.00
- Turnover is > R 10m but less than R 25m: Fee of R 2,800.00
- Turnover is > R 25m : Fee of R 3,800.00
An annual return is a summary of the most relevant information pertaining to a company and close corporation. By lodging annual returns companies and close corporations ensure that the CIPC is in possession of the latest information. It also confirms that the company and close corporation is still in business or will be doing business in the near future.
All companies (including external companies) and close corporations are required by law to lodge their annual returns with CIPC (previously CIPRO) within a certain period of time every year. An annual return is a statutory return in terms of the Companies and Close Corporations Acts and therefore MUST be complied with. 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 Non-compliance with annual returns may lead to deregistration, which has the effect that the juristic personality is withdrawn and the company or close corporation ceases to exist.