New look for ACRA’s Bizfile+
The Singapore Accounting and Corporate Regulatory Authority (ACRA) recently introduced a new online filing and information retrieval system called BizFile+. The new system allows the public to access a suite of over 400 electronic services ranging from the submission of statutory documents, to retrieval and purchases of information pertaining to business entities registered with ACRA. At present, BizFile+ handles more than 1 million transactions each year. The new customer-centric user interface was created following feedback from ACRA stakeholders and the new interface is designed to enable BizFile+ users to more easily access common e-services and relevant information.
Among it’s new user friendly features is a new announcement section to keep BizFile+ users up-to-date on the latest news, while under the BizFile_announcement section, users can search for information and services more easily. Also, all common services and information are re-organised based on user profiles, to make it easier for users including business owners, CSPs and public accountants to navigate and search for information and access e-Services quickly and conveniently. Other improvements include a more prominent login and payment cart for direct access, re-designed dashboard with easy access to frequently-used widgets and popular transactions and all e-services are grouped according to business lifecycle to enable business owners to find the right transaction at a glance. BizFile’s e-services now include a brief description as well as a step-by-step guide to guide BizFile+ users on the transaction. Users can also easily now buy business information at a click of a button and search and buy business information easily with the new Business Information menu.
SingPass and CorpPass for filing transactions with ACRA
Business entities yet to apply for a CorpPass account can continue to use SingPass to file transactions with ACRA. However, from the third quarter of 2018, CorpPass will replace the usage of SingPass business entities when transacting online with government agencies, including ACRA. Following changes to the Companies (Amendment) Act 2014, BizFile+ has incorporated new filing requirements arising from this. As for the updating of shareholder information to facilitate ACRA’s maintenance of electronic Registers of Members (EROM) of private companies from 3 Jan 2016, no fee will be charged for updating the EROM.
Streamlining of Regulatory Fee Structure
The enhanced regulatory fee structure which has been streamlined, took effect in tandem with the launch of BizFile+ on 3 Jan 16. Some businesses can expect a slight increase in their annual fees while over a hundred ad hoc transactions previously charged under a pay-per-use model, will be made free of charge.
To help the business community better understand the key legislative reforms in the Companies (Amendment) Act 2014 and the new Business Names Registration Act as well as new features of the BizFile+ system, ACRA has also jointly organised outreach seminars with it’s professional partners.