Annual Return is a short description of the most relevant information of a company, also known as Annual Company Renewal. The purpose of an Annual Return is to confirm that the company is trading or will be trading in the future. All companies and close corporations are required by law to file and pay their annual returns with CIPC every year on the anniversary of the company or close corporation registration date. If these returns are not filed and paid on time, it will incur penalties and can even lead to de-registration of the company followed by the freezing of the company’s bank account as well.
There is, however, a difference between Annual Returns and SARS Tax Returns. An Annual Return is like a ‘revival’ for the company and confirms whether CIPC has the most recent information of the company and that the company is still in business. A Tax Return is filed with SARS and focuses on the taxable earnings of a company in order to determine the tax accountability of the company to the State.
In order for us to lodge an Annual Return for a company, the following information is required:
Once we receive the above mentioned information, we will calculate the annual return fee and send you a notification about the amount that needs to be paid to CIPC.
The Annual Return process takes up to 24-48 hours. However, If there is a delay from CIPC due to excessive workload, the process could take longer.
Once an Annual return is submitted, you receive the following:
- An Annual Return Certificate
Cost for CIPC Annual Return (Our Submission Fee for 1 Year) R 199.00