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that the juristic personality is withdrawn and the company or close corporation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.
Annual returns for local companies, external companies and close corporations must
be filed within 30 business days from the anniversary date of incorporation. If
filing later that the 30 business days an increased fee is payable up until the
date the local company, or close corporation is deregistered due to non-compliance.
No manual lodgment of annual returns will be allowed, due to the volumes involved.
To lodge a return electronically,
Filing within 2 months from beginning of anniversary month
Penalty for each late lodgment
Between 0 to R50 million
R50 million and above
CIPC currently waives the requirement for financial statements to be filed with
the local company, external company or close corporation. Customers are advised
to regularly refer to the CIPC website for details as to when such financials must
be lodged with an annual return.