For every company registered in Singapore, the Annual Return (AR) filing with the Accounting and Corporate Regulatory Authority (ACRA) is a crucial compliance requirement. At Raffles Corporate Services Pte Ltd, we understand that navigating this process can sometimes be daunting. That’s why we’ve put together this comprehensive guide, walking you through the key sections and considerations when filing your AR via Bizfile+.
Getting Started: Your Bizfile+ AR Journey
The Bizfile+ portal streamlines the AR filing process, guiding you through several essential steps: Review Entity Information, Submit Annual Return, Review and Confirm, and Payment. As a Corporate Service Provider, we log in on behalf of our clients, such as CENTURION IE PTE. LTD., to manage their filings efficiently.
1. Annual Return Information: The Foundation of Your Filing
This section is where you confirm the fundamental details of your company for the current filing period.
- Financial Year End (FYE): The system will display your company’s Financial Year End date, for example, 31 Dec 2024.
- Company Type and Status: Your company’s classification here dictates various filing obligations, particularly regarding financial statements. For instance, a common type is an “Exempt Private Company Limited by Shares”. You’ll also confirm your company’s status as “Active” or “Dormant” and whether it is “Solvent” or “Insolvent”.
- Small Company Exemption from Audit: For eligible companies, you’ll need to indicate if your company is a “small company exempt from audit requirements”.
2. Annual General Meeting (AGM) Details: Fulfilling Your Statutory Obligations
All companies generally need to hold an AGM unless specifically exempted or dispensed from doing so.
- Did the company hold its AGM? You’ll select the appropriate option:
- Yes, Company is required to hold AGM.
- No, Company is exempt from holding an AGM as financial statements have been sent to members and no member has requested for AGM to be held.
- No, Company is a Dormant Relevant Company that is not required to prepare financial statements and no member requested for AGM to be held.
- No, a resolution to dispense with holding an AGM was passed by all members.
- Date of AGM: If an AGM was held, you’ll specify the date, e.g., 03 Jul 2025.
3. Financial Statements: What, When, and How to File
This section addresses the crucial aspect of financial reporting.
- Filing Requirement: Bizfile+ will inform you if filing financial statements is mandatory based on your company’s type and status. Even if not mandatory, you might choose to file voluntarily.
- Filing Format: Options include “XBRL format” or “Not filing financial information”. You may also be required to “Attach PDF financial statements,” especially if you are not a solvent exempt private company or a dormant relevant company.
- Director’s Statement: You’ll select the director who signed the statement by directors, for example, ETHAN NEO.
- A key question here is, “Does the directors’ statement include the directors’ interests in shares or debentures?”. You can select “Yes (including cases where no directors hold such interests)” if applicable, even if there are no such interests, due to a class exemption order available for certain companies.
- Accounting Standards Used: This is a vital selection. You will choose from the following:
- Singapore financial reporting standards.
- Singapore financial reporting standards for small entities.
- Singapore financial reporting standards (international) (including simultaneous compliance with international financial reporting standards).
- International financial reporting standards.
- Other accounting standards.
4. Audit Information: Disclosing Your Audit Status
For companies not exempted from audit, this section requires details of the auditing entity.
- Audited Financial Statements: You’ll indicate if your company’s financial statements “Have been audited?”.
- Public Accounting Entity: If audited, you can search for the public accounting entity by “Entity name” or “UEN”.
- Audit Opinion: You’ll also need to disclose:
- “Was there an emphasis of matter in audit opinion?”
- “Was there a modified opinion in the independent auditor’s report?” (e.g., qualified opinion, disclaimer of opinion, or adverse opinion)
5. Registers: Controllers, Nominee Directors, and Nominee Shareholders
Maintaining accurate registers is a crucial compliance aspect.
- Register of Controllers: You’ll state if your entity is “exempted from the requirements to keep a register of controllers” and the “Location where the register of controllers is kept” (either the registered office of the company or that of a corporate service provider).
- Register of Nominee Directors: Similarly, you’ll indicate exemption status and location for the register of nominee directors.
- Register of Nominee Shareholders: The same applies to the register of nominee shareholders – exemption status and location.
Partner with Raffles Corporate Services Pte Ltd
The Annual Return filing, while detailed, is a standard part of maintaining your company’s good standing in Singapore. By understanding each section of the Bizfile+ portal, you can ensure accuracy and compliance.
As your trusted Corporate Service Provider, Raffles Corporate Services Pte Ltd is here to assist you with your AR filing and all other corporate secretarial needs. Contact us today to ensure your company remains compliant and thriving.
Yours sincerely,
The editorial team at Raffles Corporate Services