Amnesty Announced for Companies unable to file Annual Returns during Covid-19 crisis

On 20th March the CRO announced an amnesty for companies that were unable to file annual returns during the Covid-19 crisis. All Irish company annual returns that are due to be filed between now and 30th June will be deemed to have been filed on-time providing that all elements have been filed and completed by that date.

If you are a Director or Company Secretary you will know that failure to file your Annual Return on time can result in penalty fees up to €1200 and loss of your Audit Exemption.

Annual Returns Dates During Covid-19 Crisis

The Registrar of Companies has announced that all annual returns due to be filed by any Company now and up to 30th June 2020 will be deemed to have been filed on time if all elements of the annual return are completed and filed by that date.

However, if you are in a situation where your company is late in filing your Annual Return before 19th March when the CRO announcement was made, we can apply to the District Court Under Section 343 for an extension.

Applying for Section 343

Under Section 343 of the Companies Act 2014, applications for an extension of time to file an annual return may be made to the District Court to waive the penalty fees and retain your Audit Exemption. If your company’s annual return was late prior to 19th March, you can still make a Section 343 District Court application.

The President of the District Court has deemed Section 343 applications as urgent and they will be seen to despite the current circumstances. But you will need to act quickly as most applications will not be seen to until June, so it is important to get in as soon as possible.

If the application is approved the Court will extend the date in which the Annual Return of the company may be made to up to 28 days.

Once the Court Order (Form 93) has been filed with the CRO, the company should deliver the Annual Return to the CRO within the extending time period, then the annual return will be deemed to have been received on time and the late filing fee or the loss of Audit Exemption will not apply.

How to Proceed

RegisterACompanyinIreland has handled over 100 successful Section 343 applications. Please contact us for further information and how you can avail of this service.

While you are busy trying to navigate these trying times we are available to assist with a range of services including incorporating the company, registering for corporation tax, annual compliance and filings.