ACRA Revised Annual Returns Filing Penalties
(Commencing 14 January 2022)

ACRA has announced on 25th November 2021 a revised framework for late annual filing penalties as part of its voluntary compliance framework to simplify the understanding and computation of penalties and encourage increased compliance efforts.

At present, all incorporated companies and VCCs in Singapore are required to file their Annual Returns within 5 (for listed companies) or 7 (for listed companies) months after the end of their financial year financial year-end, while LLPs are required to file their Annual Declarations within 15 months of registration and subsequently, once in every calendar year within 15 months of the last lodgment.  

The revised framework shall commence from 14 January 2022 onwards, and shall include 2-tiers of penalties as follows:

Revised Framework for Late Annual Filing Penalties (Reflected at Point of Lodgment)

Entity Type

Filing Due Date on or after 14 January 2022

Filing Due before 14 January 2022

Local Companies
Variable Capital Companies (VCC)
Foreign Companies
Limited Liability Partnerships (LLP)

(i) S$300 within first 3 months after filing due date; or
(ii) $600 after the first 3 months

Flat rate of S$300 for Local Companies and Variable Capital Companies;
8-tier penalties ranging from $50 to $350 for Foreign Companies and Limited Liability Partnerships

Late Ad-hoc Filing Penalties

For all other ad-hoc filings to be made by Local Companies, Limited Liability Partnerships and Sole Proprietorships such as changes to the particulars of officers or amendments made to entity information, the existing penalty framework will continue to apply for such late filings.

A new 2-tier framework will however apply to late ad-hoc filing penalties for Variable Component Companies as follows:

Entity Type

Filing Due Date on or after 14 January 2022

Filing Due before 14 January 2022

Local Companies
Foreign Companies
Limited Liability Partnerships (LLP)
Limited Partnerships (LP)

8-tier of penalties ranging from S$50 to S$350

8-tier of penalties ranging from S$50 to S$350

Sole Proprietorships
Partnerships

8-tier of penalties ranging from S$10 to S$250

8-tier of penalties ranging from S$10 to S$250

Variable Component Companies (VCC)

(i) S$50 within first 3 months after filing due date; or
(ii) $200 after the first 3 months

8-tier of penalties ranging from S$10 to S$250

Any penalties imposed shall be imposed and reflected at point of lodgment through BizFile or VCC portals.

For more details, please refer to ACRA’s website.

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