Every company must hold an AGM and file its annual return with RJSC. Here's what's required and the risks of ignoring it.
Many business owners believe their obligations to RJSC end once the company is incorporated. In reality, every company must keep its records updated with RJSC every year through the annual return.
What is the annual return?
The annual return is a statutory filing that records the company's shareholders, directors, share capital and other key information as of the date of the Annual General Meeting (AGM). It includes Schedule X along with supporting documents.
What's required
- Holding the AGM within the timeframe required by the Companies Act.
- Preparing AGM minutes and resolutions.
- Filing the annual return (Schedule X) with RJSC within the permitted time after the AGM.
- Filing any changes in directors, shares or address separately.
Risks of non-compliance
- Late filing fees and penalties that grow over time.
- Difficulty obtaining certified copies and company documents.
- Problems with bank facilities, tenders and licence renewals.
We track your AGM and filing dates, prepare the documents and file your annual return on time — every year.
#RJSC#Annual Return#AGM
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