Annual Returns

Annual Returns
Most Small and Medium Entrepreneurs are very eager to register a company with CIPC. They are oblivious of the requirements to submit Annual Returns to CIPC. Most of them will only realize it in the 5th year that their companies were long de-registered by CIPC for nonsubmission of these AR (despite being compliant with SARS)

CIPC issued a new Practice Note Number 8 on the 3rd of April 2017 which may be onerous to most start-ups and SME’s. The notice includes the following requirements for the reinstatement of a de-registered entity;

1. A certified ID of directors/members
2. A certified ID of the filer
3. Multiple Deed Search from each regional office
4.  Letter from the Department of Public Works
5. Sufficient documentary proof indicating that the entity was in business or that it had outstanding assets or liabilities
6. Mandate from applicants

Rather than doing the proper thing by filing annual returns at a cost of less than R150 per year payable to CIPC, most entrepreneurs will end up R2,5k