Key Takeaways
- In Singapore, all businesses are required to file an annual return.
- Filing must be done via BizFile+ within the stipulated deadlines after the financial year-end.
- Businesses must maintain accurate and current information to avoid fines.
- Expert corporate secretarial services can guarantee timely and easy filing.
For businesses registered in Singapore, filing your Annual Return (AR) is a crucial compliance requirement. It ensures that your business’s records with the Accounting and Corporate Regulatory Authority (ACRA) are up-to-date and accurate. Failing to file on time can lead to penalties, compliance issues, and even prosecution. This guide covers everything you need to know to stay compliant and avoid unnecessary risks.
What is Annual Return Filing?
Every Singaporean business is required to submit an electronic Annual Return to ACRA. It provides important details such as:
- Company name and registration number
- Principal business activities
- Registered office address
- Directors, company secretary, and shareholders
- Share capital and paid-up capital
- Financial statements (if applicable)
Who Needs to File an Annual Return in Singapore?
All businesses, whether active or dormant, must file an Annual Return with ACRA. This includes:
- Private limited companies (Pte Ltd)
- Public companies
- Foreign companies registered in Singapore
When Should You File the Annual Return?
The filing deadlines vary depending on the type of business you run:
- Private businesses: Seven months following the end of the fiscal year (FYE)
- Publicly traded companies: Five months following the fiscal year
💡 Tip: You must hold your Annual General Meeting (AGM) before filing the AR unless exempted.
Key Steps to Prepare for Annual Return Filing
- Hold an AGM (if required) Review financial statements and obtain shareholder approval.
- Ensure Bookkeeping Compliance Accurate financial record keeping and timely management accounts preparation are essential to avoid discrepancies.
- Prepare Financial Statements It is necessary to adhere to the Singapore Financial Reporting Standards (SFRS).
- Check Company Information Update any changes in registered address, officers, or shareholding before submission.
- File via BizFile+ Submit the AR through ACRA’s online filing portal.
Common Mistakes to Avoid
- Missing the deadline
- Providing outdated company information
- Failing to file even if your company is dormant
- Not updating details of directors or shareholders
Penalties for Late or Non-Filing
Failing to comply can result in:
- Late filing penalties starting from SGD 300
- Possible court summons
- Disqualification of directors for repeated offences
Why Choose Singapore’s Professional Annual Return Filing Services?
Outsourcing to a corporate services provider ensures that:
- Filing is done accurately and on time
- You remain compliant with Singapore corporate regulations
- You maintain current accounting and bookkeeping records at all times.
Professional service providers also offer payroll bookkeeping, accounts reconciliation, and outsourced bookkeeping services, which make the AR filing process smoother.
Stay Compliant, Stay Stress-Free
Filing an annual return in Singapore doesn’t have to be difficult. With proper preparation and professional support, your company can stay fully compliant, avoid penalties, and focus on growing your business.
📞 Need help with Annual Return filing? Reach out to PG Secretarial right now for expert bookkeeping services and assistance with compliance.