CIPC Annual Return Filing

Описание: If you would like any assistance with submitting your annual returns to CIPC, please use the following link:

https://www.swiftreg.co.za/swiftreg/P...

We at SwiftReg look forward to assisting you. We have a dedicated call center 021-595 44 33 (available during business hours) alternative please browser our website on https://www.swiftreg.co.za/index.aspx for more services.

And now for the video script... :)

In this video I am going to explain the basics of Annual Returns, how we can make this easy for you.

All companies must pay annual return fees to CIPC. This is not to be confused with Income Tax to SARS which is completely different. As the name suggests these payments are due each year on the anniversary date of when the company was initially registered, and you have 30 days within which to make the payment before you incur penalties.

We have set up automated emails for all our clients to remind them that their annual returns are due. Since CIPC can only process these payments during the 30 day window period, we can’t take payments in advance.

CIPC has also made calculating the amounts due quite tricky; as they have different pricing for 3 different categories

1. Close corporations
2. Old Company Act for companies registered before 1 May 2011
3. New Companies Act

These amounts also differ by category and are dependent on your turnover as well as penalties.

So we have simplified the process to help you get an accurate quote. All we require is your company data and turnover values which we use to generate an accurate quote. We are completely transparent about our processing charges which is R190 to which we add the CIPC outstanding costs. Should we need to process more than 1 years worth of returns, R100 per additional year is added.

It is essential to provide accurate turnover figures as CIPC checks this against the SARS database. The correct value is the turnover of your last financial year as submitted to SARS.

CIPC has recently added extra mandatory information in the financial accountability supplement. It does need to be accurately completed and we will submit it with your annual return. Without it, your annual return certificate will not be issued by CIPC.

So what happens if you don’t pay your annual returns?

1. After 30 days CIPC will add penalties for late payment.
2. Your company will also be frozen by CIPC. No company changes can be completed until the annual returns are paid up, including the penalties.
3. After a period of time, usually about 24 months, CIPC deregisters the company.
4. You now lose the right to keep your company name
5. At the same time, the banks are instructed by CIPC to freeze your company bank account.

You really don’t want CIPC to deregister you company. It is extremely frustrating and time consuming to restore it. Additionally, there are penalties due for each year which need to be settled before the company can be restored.

We do assist with restoring companies which have been deregistered. This is especially necessary for companies which own properties and can’t transfer them to the new owners until the company is restored and all the annual returns and penalties have been settled for each outstanding year. I have made a separate video on Restorations which you can watch on our channel. So it is essential to keep your company’s annual returns up to date.

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   • CIPC Annual Return Filing  

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