Annual Returns - How to pay yours...

What is an Annual Return

An annual return is a small yearly fee, paid to the Registrar of Companies, to make certain that your company is still active and to keep it registered. It was implemented to stop thousands of South African companies just becoming dormant

Must I pay it?

Yes, you are legally required to pay it every year, on the anniversary of the date that the company was started. If you fail to pay it penalties are added. If you continually fail to pay it your company will become deregistered. This means cease to exist. It is extremely hard to restore your company if this happens.

Time it takes?

Annual returns are completed within one business day after receiving payment.

Costs

Our fees are R190 + the CIPC Fees for an Annual Return. Past years that remain unpaid are R100 per year.

But I am not using my company?

If your company has no assets and you dont want it any more, then do not pay. It will eventually cease to exist. If you have property, assets or liabilities under this company, you must pay it. Deregistration under these circumstances will become a great headache to you, and the results can take months to resolve.

Notes

All companies are required to pay annual returns to CIPC in order to maintain their status as active on the CIPC database. Failure to pay the annual returns will result in your company being deregistered by CIPC followed by the freezing of your bank account. To prevent this from happening, CIPC requires that the annual returns be paid to them on the anniversary date of the company’s inital registration. The CIPC fees are based on the turnover of the company however there may be penalties due for previously outstanding or late returns.