Reminder to hold the AGM - Section 175 Companies Act (CA) Requirement
COMPANY NAME: ABC PTE. LTD.
ANNUAL GENERAL MEETING (AGM) DUE DATE: 01/03/2323
ANNUAL RETURN (AR) DUE DATE: 01/04/2023
REMINDER TO HOLD THE AGM - SECTION 175 COMPANIES ACT (CA) REQUIREMENT
1. Every company is required to hold an AGM. The date on which the AGM is held must comply with the following statutory requirements:
a. For public companies which are listed, the AGM must bee held within four months after the end of each financial year; or
b. For any other company, the AGM must be held within six months after the end of each financial year.
2. Please note that private companies may be exempt from holding AGMs subject to certain requirements. For further information as to whether your company is eligible for exemption, please refer to: Exemptions from holding an AGM.
REMINDER TO PRESENT FINANCIAL STATEMENTS AT THE AGM - SECTION 201 CA REQUIREMENT
3. At the AGM, the director(s) of the company must lay or present financial statements for the financial year in respect of which the AGM is held.
REMINDER TO FILE AR AFTER AGM - SECTION 197 CA REQUIREMENT
4. The AR is an online form which you must complete and file online through ACRA's BizFile web portal:
a. For public companies which are listed, the AR must be filed within 5 months after the end of its financial year.
b. For any other company, the AR must be filed within 7 months after the end of its financial year.
5. A company which has been granted waiver of Income Tax Return submission by IRAS is still required to comply with the statutory obligations to hold an AGM, present financial statements at the AGM and file the AR with ACRA.
COMPLIANCE WITH THE ABOVE REQUIREMENTS
6. If the above requirements are not met, late lodgment penalties will be imposed and ACRA may choose to take other enforcement actions.
DEBARMENT OF DIRECTORS OR COMPANY SECRETARY
7. A director or company secretary who fails to comply with statutory filing requirements as set out in the Companies Act for a continuous period of three months or more, may face a debarment order from the Registrar preventing the director or company secretary from taking on any new appointments as director or company secretary of any company (section 155B Companies Act).
EXTENSION OF TIME TO HOLD THE AGM AND FILE AR
8. If you cannot comply with the timelines stipulated under section 175 CA and/or section 197 CA, you may apply to ACRA for an extension of time (EOT) to hold the AGM or file AR. For more information on how to apply for an EOT, please refer to Applying for an Extension of Time to hold your AGM.
9. If your company is not in operation and there is no intention to carry on business, you may consider applying to ACRA to strike off the company. Before submitting your online application, please refer to the criteria required for striking off a company at Striking Off a Local Company. If the striking-off is not successful, the company is required to comply with the requirements to hold the AGM, present financial statements at the AGM and file AR.