The deadline for filing 2021 annual returns by domestic companies, which were incorporated between July 1 and December 31 of any year, is Friday, December 30, 2022.
This reminder has come from acting Deputy Registrar at the Corporate Affairs and Intellectual Property Office (CAIPO), Joyann Catwell, who said the Companies Act requires every company, except one that is external, to file an annual return with the Registrar of Companies, and pay the fee of $100 at the time of filing.
Ms. Catwell explained: “A company which was incorporated between January 1 and June 30, in any year shall file its annual return no later than June 30. A company which was incorporated between July 1 and December 31, shall file its annual return no later than December 31. This is to be done in every succeeding year after incorporation.
“Section 15A (3) of the Companies Act states that a company in default of filing annual returns is liable to pay to the Registrar a penalty of $10 for every day during which the default continues, up to a maximum of $3,000. This is in addition to the filing fee of $100 per annual return. Every director and officer of the company who knowingly and willfully authorise or permit the default is also liable to that penalty.”
Ms. Catwell pointed out that the Act also gives the Registrar the authority to strike off the company from the Companies’ register if it neglects or refuses to file an annual return.
To file annual returns, Form 35 must be completed in duplicate and submitted to the Corporate Affairs Office between 8:30 a.m. and 3:00 p.m., Monday to Friday.
The form is available on www.caipo.gov.bb. Persons should click “corporate affairs”, then “other services”, then “post incorporation forms”, and select Form 35.
Payments may be made through Government’s online EZPay+ portal or through CAIPO’s agent portal, if the person has an agent number. Alternatively, an individual may visit the office to pay at the counter by cash, card or cheque.
An annual return is a record of publicly available information about a company that appears on the Companies’ Register. Such information includes the address and details of directors and secretary; shares; class of shares, and beneficial owners. It is not a financial document.