The Registrar General’s Department through a communique has extended deadlines for filing of annual returns. This was in response to the lock-down announced by the President.
The deadline has been extended for the filing of annual returns for the following entities.
|
Entities
|
Old Deadline
|
Extended Deadline
|
|---|---|---|
|
Companies Limited by Guarantee
|
30th April 2020
|
30th June 2020
|
|
Companies Limited by Shares
|
30th April 2020
|
30th June 2020
|
|
External Companies
|
30th April 2020
|
30th June 2020
|
|
Partnerships
|
30th April 2020
|
30th June 2020
|
Implications
This means that, should your company or partnership not file its returns on time, you will have to pay a penalty. There is a new rate of GH¢450 which will take effect from Monday July 6, 2020.
NB: Newly incorporated companies have 18 months from the date of incorporation to submit their annual returns.
Action points - Changes in filing annual returns
A two month extension shouldn’t mean waiting till the last week to start compiling documents. The Companies Act, 2019 (Act 992) was assented into law on 2nd August 2019. This brought more requirements and changes which may affect your annual return filing. Some of the changes include the following.
- A new requirement for the Company Secretary to be duly qualified under the Act
- Enhanced corporate governance requirements for company directors
- Registration of ‘beneficial owners’ with the registrar of companies when it is formed
Takeaway
During this period of restricted movements, it might be useful to start preparing the information you will need for your annual return. If you need any help filling in the forms or appointing a qualified company secretary, get in touch here and we’ll be happy to assist.
