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Company Annual Returns
Annual Return is a short description of the most relevant information of a company, also known as Annual Company Renewal. The purpose of an Annual Return is to confirm that the company is trading or will be trading in the future. All companies and close corporations are required by law to file and pay their annual returns with CIPC every year on the anniversary of the company or close corporation registration date. If these returns are not filed and paid on time, it will incur penalties and can even lead to de-registration of the company followed by the freezing of the company’s bank account as well.
There is, however, a difference between Annual Returns and SARS Tax Returns. An Annual Return is like a ‘revival’ for the company and confirms whether CIPC has the most recent information of the company and that the company is still in business. A Tax Return is filed with SARS and focuses on the taxable earnings of a company in order to determine the tax accountability of the company to the State.
Who must submit the Company Annual Return?
All close corporations and companies must submit annual returns to avoid penalties charged and the possibility of being de-registered.
If a cc or company is dormant and you do not want this to be de-registered annual returns MUST also be submitted.
When must the Company Annual Return be submitted?
The annual return must be submitted during the month following the anniversary (incorporation) month.
Why must the Company Annual Return be submitted?
To update the latest information and for the companies and intellectual properties commission and for them to determine whether a company is still in business.
What happens if the Company Annual Return is not submitted on time?
If a company fails to lodge its annual return within the prescribed period, the company will eventually be final de registered, meaning that it will no longer exists.
In order for us to lodge an Annual Return for a company, the following information is required:
• Name of the company
• Registration number of the company
• The annual turnover of the company
Once we receive the above mentioned information, we will calculate the annual return fee and send you a notification about the amount that needs to be paid to CIPC.
For Companies, Annual Returns fee table for CIPC is as follows:
ANNUAL TURNOVER FILING WITHIN 30 BUSINESS DAYS AFTER ANNIVERSARY DATE FILING MORE THAN 30 BUSINESS DAYS AFTER ANNIVERSARY DATE Less than R1 million
R1 million but less than R10 million
R10 million but less than R25 million
R 2 000
R 2 500
R25 million or more
R 3 000
R 4 000
For Close Corporations, Annual Returns fee table for CIPC is as follows:
ANNUAL TURNOVER FILING WITHIN 2 MONTHS FROM BEGINNING OF ANNIVERSARY MONTH PENALTY FOR EACH LATE LODGEMENT Between 0 to R50 million
R50 million and above
R 4 000
To get started with your Annual Return Application:
R149 + CIPC Fee’s per year
Upon your order, the invoice will be updated according to your Return