Every Irish company is required to file Annual Returns with the Companies Registration Office (CRO) on a yearly basis regardless of whether the company has traded or is dormant. A company’s financial year typically begins when the company was incorporated, and the financial year ends the following year. As a result, the financial year of many companies does not follow the calendar year (1st January – 31st December) which can be problematic for sales forecasting and reporting.
The ideal Annual Return Date for Irish companies is 30th September because it is the last day that companies can file a full calendar year of accounts (1st January – 31st December). Plus, the company will have a full nine months to prepare its filings for the previous year. Irish companies may be able to file their accounts early and change their Financial Year End date to the 30th of September. It is recommended that you seek assistance from a professional Company Secretary to help you choose the ideal Annual Return Date (ARD) as this change can only be made once every five years.
What information needs to be filed with an Annual Return?
The annual return must detail a company’s statutory information, to include the following:
- Company Name
- Registered Office Address
- Directors’ and Secretaries Details
- Authorized and issued share capital
- List of past and present members
- Information relating to the financial statements
Annual returns must be filed with the CRO within 56 days of the company’s Annual Return Date. Failure to file annual returns on time will result in a penalty of €100 on the first day following the deadline and then €3 per subsequent day up to a maximum penalty of €1,200. If you have not yet filed your annual returns for this calendar year or know your return will be late, please take action immediately. Contact our Company Secretarial team to ensure your company remains compliant and avoid late fees.
Additionally, if you would like to take advantage of the ideal Annual Return Date of the 30th of September and extend your company’s Financial Year End to December 31st. Please Contact Us today. Our team will file the appropriate additional form to change a company’s annual return deadline.