Reading Time: 2 mins

ACRA simplifies AGM and Annual Returns filing deadlines

The Singapore government is taking several efforts to ensure that doing business in Singapore is competitive, easy and friendly. One of these recent efforts is a legislative change to the Companies Act that modifies the timelines for conducting Annual General Meetings (AGMs) and filing Annual Returns (AR). These changes that came into effect on 31 August 2018 are expected to reduce the regulatory burden of companies. In addition, the Annual Returns filing process for solvent EPCs and Dormant Private Companies have been simplified. However, these legislative changes will apply only for financial year ending on or after 31 August 2018.

 

The new timelines for AGM and ARs is aligned with the financial year end (FYE) of the company and will ease the process of identifying compliance deadlines.

Here is snapshot of the;

New AGM and Annual Returns filing timelines by ACRA

FYE before 31 Aug 2018FYE on or after 31 Aug 2018
AGMFirst AGMWithin 18 months of incorporationAGM within 4 months after FYE
Subsequent AGMAnnually at not more than 15 months intervalAGM within 6 months after FYE
Financial statementsListed companiesMade upto not more than 4 months before AGM dateStatements made upto FYE and hold AGM based on FYE
Other companiesMade upto not more than 6 months before AGM dateStatements made upto FYE and hold AGM based on FYE
Annual returnsHaving a share capital and keeping a branch register outside Singapore
Listed companiesWithin 60 days after AGMWithin 6 months after FYE
Other companiesWithin 60 days after AGMWithin 8 months after FYE
For companies not having a share capital and keeping a branch register outside Singapore:
Listed companiesWithin 30 days after AGMWithin 5 months after FYE
Other companiesWithin 30 days after AGMWithin 7 months after FYE

The amendment also requires that Annual return be filed

  • Only after an AGM has been held
  • If no AGM is required to be held, only after financial statements have been filed
  • Only after FYE for a private dormant relevant company that is exempt from preparing financial statements

About DataTracks:

DataTracks is a global leader in disclosure management and regulatory compliance software and services. Seven of the top 10 accounting firms and over 13,500 enterprises across global markets trust DataTracks with their information, counting on their deep expertise to help them inform, decide and comply. Using DataTracks, enterprises across geographies file reports compliant with the standards of regulators like the SEC – US, HMRC – UK, Revenue – Ireland, various EU regulatory authorities, ACRA – Singapore, MCA – India, and CIPC – South Africa. To know why financial accounting firms and enterprises world-over trust DataTracks, please visit www.datatracks.com/sg/

Schedule A Demo

Schedule A Demo
























    Cancel