What if Director not able to sign report

SCENARIO Company A have 2 director but 1 of the director lose contact . How to apply report to be sign by 1 director ? Companies Act Requirement Company with 2 appointed director, report must be signed by BOTH director unless is single director company So , how to comply ? Application for relief from

Significance of a Company’s Financial Year End (FYE)

Financial statements provide a snapshot of company financial insight at the particular period and it prepared based on the financial year end . Financial year end play important role in the following area : Company Tax Exemption Planing Company Decision Making Company structure reporting level Company statutory reporting compliance FINANCIAL YEAR END IN COMPANY TAX

Filing Method for Dormant Company

WHAT IS DORMANT COMPANY ? ACRA exempts Dormant companies from preparing financial statements and holding physical AGMs. Company is consider Dormant if it had NO accounting transactions within a given accounting period excluding the following Appoint a company secretary Maintain a registered office, registers, and books Pay fines, penalties, or fees to ACRA FILING METHOD

AGM : Must i attach report to ACRA ?

The following is 2 basic guideline you need to refer in comply filing annual return with ACRA . So is important to ascertain where your company belong to : Type of Company Financial Status What is the different between Insolvent and Solvent Company Company is INSOLVENT refer to the company unable to meet its debts

ACRA New Filing Deadline

TYPE OF DEADLINE Section 197 : Company required to file Annual Return with in 7 months after financial year end Section 175 : Company required to hold Annual General Meeting (AGM) within 6 months after financial year end WHAT IS THE CHANGES ? EACH section ( S197 and S175) will be granted another 60 days

What If I Do Not Want to Conduct AGM ?

To minimise the operating cost, Pte Ltd company is allowed exempted from conducting of AGM. To comply with the exempted of AGM, you need to : conduct Physical Meeting to approve dispenses off AGM All shareholder must agreed and approved ” Dispense off AGM” Company must send their financial statement to member within 5 months

Enforcement Action for Breaches of Annual Return Filing

ACRA is taking serious enforcement  against company who fail to file their Annual return and conduct Annual General Meeting (AGM). Other than  penalty or composition fine , company may face the following enforcement  : COURT PROSECUTION Attendance to Court after composition fine offered ACRA will send notice to the company registered address and offer composition
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