CIPC Transactions and Annual Returns
To transact with the Companies and Intellectual Property Commission (CIPC), visit their website. Click on Online Transacting, then choose e-Services. Alternatively, access e-services directly at eservices.cipc.co.za. Calculate, file and pay your Annual Return through these online services. It’s important to check financial statements and independent review requirements on the CIPC website. If you need to retrieve your customer code, you should contact CIPC directly.
Requirements for Companies and Directors
An annual report typically consists of four statements: the balance sheet, the income statement, the cash flow statement, and the shareholders’ equity statement. This report is essential for summarizing the financial activity of a Limited Liability Company (LLC). It should capture income, expenses, assets, liabilities, and equity, and is typically prepared by an accountant or bookkeeper. Once prepared, the LLC must file this report with the state where it’s registered.
For update requirements, directors must inform CIPC of any changes in names, surnames, addresses, and directors that have left, all within 30 days following the Annual General Meeting (AGM). The number of directors must align with the minimum and maximum specified in the company’s Constitution. To change the number of directors, the Constitution must be amended accordingly.
Filing Fees, Penalties, and Compliance
Annual return fees are dependent on the filing date. Filing within 30 days of the company’s anniversary date incurs less cost compared to filing late. Please note to always reference the customer code when paying, so CIPC can easily identify the company.
Failure to pay annual fees on time can result in penalties. Filing late will incur late fees, and persistent non-compliance could lead to CIPC deregistering the company. Deregistration disables the company from legally trading or entering into contracts.
You should regularly check your company’s status on the CIPC website to ensure that annual returns are filed on time and to avoid accruing penalties, the amounts of which increase the later you file.
Financial Statements and Name Reservations
All public and state-owned companies are obligated to file audited financial statements annually with the CIPC as part of their annual return filing.
The current filing fee is R75 for a manual submission and R50 for an electronic submission. Remember to provide all relevant documentation when submitting.
If you wish to reserve a company name during the registration process, the cost is R50 per reservation. Alternatively, you can let CIPC automatically generate a name for you. First National Bank (FNB) can facilitate this process by verifying the applicant’s details before forwarding them to CIPC. Payment is processed once all details are validated.
Payment Methods and Contact Updates
If annual fees are due, generate an invoice to obtain all the necessary payment details. Accepted payment methods include credit card, Electronic Funds Transfer (EFT), and debit card. Be sure to follow the invoice instructions accurately to ensure proper payment.
Keep your contact details up-to-date with CIPC so that they can send reminders for the annual return. You can check the filing status either on the website or through USSD.
For security reasons, companies are advised to only display the first six digits of their ID numbers and to omit addresses on the annual returns. Filing fees will vary according to the submission method and how timely the submission is.
Name Reservation Costs and Constitution Amendments
Each name reservation is charged at R50, which is a non-refundable filing fee. If there is a need to modify the number of directors specified in the Constitution, the fee for this amendment is R17.50