CIPRO introduced annual returns on 1 September 2008 for closed corporations. This is to update details with CIPRO, with regards to company and financial information, on an annual basis. An annual return fee is also payable to CIPRO based on your turnover.
Also note that should we not submit your return in due course, deregistration by CIPRO will take place.
Please treat this matter with urgency!!
What is the purpose of an Annual Return?
In keeping with legislation, the Registrar of Close Corporations needs to determine whether a registered organisation is still in business and to confirm the Registrar is in possession of the latest information of the close corporation, each close corporation is compelled in terms of the Act to lodge an Annual Return once every year.
When do I need to lodge the close corporation’s Annual Return?
An Annual Return needs to be lodged within the anniversary month of its official incorporation up until the end of the month following its anniversary month.
What will happen if I fail to lodge the close corporation’s Annual Return?
Should a close corporation fail to lodge and pay for its Annual Returns for a period more than six months the Registrar may conclude that the close corporation is no longer conducting business and may refer it to be deregistered.
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