Annual Returns

Since when must Annual Returns be submitted to CIPC ?
1 September 2008
The Purpose of the annual return ?
In keeping with legislation, each close corporation ia compelled in terms of the Act to lodge an Annual return once a year. The Registrar of companies needs to determine two things: Whether a registered organisation in still in business Confirmation that the Registrar is in possession of the latest information of the company.
What will happen if I fail to lodgement the close corporation/company’s Annual Return ?
Should a close corporation/company’s fail to lodge and pay for its Annual Returns for a period of more than 6 months, the Registrar may conclude that the close corporation/company’s is no longer conducting business and may refer it to be deregistered
What costs and protocols are involved
ALL Companies/CC’s MUST submit Beneficial Ownership Declaration with CIPC to stay compliant – This is an additional cost of R800
Annual Return Cost for Companies: Turnover < R1 mil  R650 Turnover between R1 mil and R10 mil  R950 Turnover between R10 mil and R25 mil  R3000 Turnover > R25 mil  R4500	Annual Return Cost for Close Corporations: Turnover < R50 mil   R650 Turnover > R50 mil   R4500

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