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ACRA Compliance

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ACRA Compliance

2021-02-05T12:51:59+08:00October 16, 2012|0 Comments

All locally incorporated companies are required to hold their Annual General Meeting (AGM) and file their annual returns.

Filing Annual Returns of a Local Company

All locally incorporated companies are required to hold their Annual General Meeting (AGM) and file their annual returns under S175, S197, and S201 of the Companies Act.

Companies can be incorporated if you are a foreign individual, a company, or if you are a local Singaporean Resident. At the AGM, directors shall present a true and fair view of the company’s accounts to their shareholders. The Companies Act does not prescribe the minimum level of qualifications for the person preparing the accounts.

However, it will be the responsibility of the directors to appoint individuals with the required level of expertise for the preparation of such accounts.

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When to Hold an AGM and File Annual Return

Requirements 

Descriptions 

Companies Act 

Annual General Meeting (AGM) 

1. A company is required to hold its first AGM within 18 months after its incorporation. 

 

2. Subsequent AGMs must be held every calendar year and the interval between AGMs should not be more than 15 months. 

Section 175 

Audited/Unaudited Accounts 

The Annual Return must be filed with the Registrar within one month after the AGM. 

Section 197 

Public/Listed Company 

For a public company listed or quoted on a securities exchange in Singapore:  

Accounts presented at the AGM shall be made up to a date not more than 4 months before the AGM. 

 

In the case of any other company: Accounts presented at the AGM shall be made up to a date not more than 6 months before the AGM. 

Section 201 

ACRA Compliance FAQs

Where can I get professional advice for annual compliance?2020-12-16T10:38:57+08:00

You can engage with an expert from Paul Hype Page. Paul Hype Page is a Full Practicing Member of the institute of Certified Public Accountants of Singapore (ICPAS) and also registered as a Public Accounting Firm with Accounting and Corporate Regulatory Authority (ACRA). 

My company’s financial year is not 12 months, what should I do?2020-12-16T10:38:29+08:00

If your company has an unusual financial year period (52 weeks for example), you should notify ACRA. 

Who needs to register with ACRA?2020-12-16T10:38:41+08:00

Every business owner must register his/her business with ACRA as long as he/she is conducting any activity for profit continuously unless:

  • The business is conducted under one’s full name as reflected in NRIC.
  • The business is conducted under one or more partners using their full names as reflected in their NRICs.

An individual must be 18 years old to register a business with ACRA.  

What does ACRA stand for?2020-12-16T10:36:41+08:00

ACRA stands for Accounting and Corporate Regulatory Authority of Singapore. 

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