ANNUAL RETURN SUBMISSION (COMPANY RENEWAL)(COMPANIES AND CLOSE CORPORATIONS)

Jun 28, 2020
Annual return submission (company renewal)(companies and close corporations) picture

 

Who must submit the annual return?
All cc's and companies must submit annual returns to avoid penalties charged and the possibility of being de-registered and closed.
An annual return is NOT a tax return submission. Tax returns MUST ALSO be submitted to SARS.

My company is not trading, must I submit the annual return?
Yes, if a company is dormant, will be used in future and you do not want this to be de-registered (closed) the the annual return MUST be filed.

When must the annual return be submitted?
The annual return must be submitted during the anniversary month of the company.
For example, if the company was incorporated during 15 May, then every year 15 May the annual return will be due for submission.

Why must the annual return be submitted?
To update the latest information and annual turnover with the Companies and Intellectual Properties Commission.
Annual return submissions keep the company in business and avoid this from being closed.

What happens if the 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. The company name will then become available to the general public for registration.

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