The Registrar General’s Department (RGD) has extended the deadline for the filing of annual returns for all companies whose financial year ended by December 31st, 2019.
The original submission date which was scheduled for April 30th, has now been extended to June 30th 2020.
Such companies include Companies Limited by Shares, Companies Limited by Guarantee, External Companies as well as those seeking to renew their partnerships.
The extension has become necessary due to the partial lockdown imposed by the President, Nana Akufo-Addo in a move to curb the spread of the novel Coronavirus Disease (COVID-19).
This was contained in a statement signed by the RGD’s Head of Public Relations, Constance Adomaa Takyi yesterday.
Instructively, all other Companies whose financial year ended before 30th June, 2019 have been mandated to file their respective annual returns by end of December this year.
Consequently, the RGD has insisted that companies who in spite of this extension still fail to submit their annual returns within the stated two months grace period are liable to pay a penalty of GHS450 for non-compliance in July.
Section 126 of the Companies Act, 2019, (Act 992) makes it mandatory for companies to file their annual returns once every year which include particulars of every member of the Company as well as its beneficial owners.
Under section 6(1) of the Incorporated Private Partnerships Act, 1962, once every year, “the Partners shall deliver to the Registrar of Partnerships a statement in the prescribed Form renewing the Partnership”.
Furthermore, Sole Proprietorships are required by law to renew their Business Names once every year or shall be deemed to have lapsed whereupon the Registrar may take the Business Name off the Companies Register.
To be in good standing and avoid being taken off from the companies register, Business Names would have to pay for the number of years they have not renewed up to date but are not expected to pay any penalty.