Are private companies required to file their annual returns to RCB?
A company which requires statutory audit, is required to hold its Annual General Meeting (AGM) within 18 months from the date of incorporation and to present its audited accounts to its shareholders. These audited accounts must not be made up to a date older than 6 months. After that, an AGM must be held once every calendar year but not later than 15 months from the date of the last meeting. The company’s Annual Return, together with the audited accounts, must then be filed online not later than one month from the date of the Annual General Meeting. A company, which doesn’t require statutory audit, is still required to meet the above time frame but the accounts presented at the AGM need not be audited. However, the company is required to submit a declaration of solvency, signed by its director and company secretary at the time of filing the Annual Return. If the company is unable to file the declaration of solvency, it will be required to file a set of unaudited accounts with the RCB.
