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All south African companies whether it be a CC, Private or Public company are required to submit annual returns with the CIPC. Annual returns will vary dependent on the turnover of the business as well as whether it is submitted within the 30 days of incorporation each year.
Here is some answers to questions you may have about annual returns submission
When do you submit these returns?
Within 30 Days of the companies incorporation.
What if I have never submitted annual returns?
If the annual returns are not submitted within 30 days of the companies incorporation date penalties will be charged dependent on number of years the fees are outstanding as well as the annual return fee x the number of outstanding years.
Why should I pay these returns?
The annual returns system is in place to ensure CIPC has current information of the business as well as to know whether it is still operational.
If the company is no longer active?
If a company is no longer active one should approach the CIPC in order for the company to be deregistered in stead of just forgetting about it or ignoring the company.
Visits Phase One Business Registration in order to find out whether your returns are due and let us help you submit them before penalties arise.