AGM and Annual Return Calculator Is Useful and Here’s Why
Never Miss Your AGM Date and File Your Annual Return on Time
All businesses in Singapore must hold an Annual General Meeting (AGM) and file their annual return. An AGM and Annual Return calculator helps you keep track.
As the director of a company, you will be required to comply with several statutory obligations. These obligations are mandated in the Companies Act Cap 50 (“the Act”). The Accounting and Corporate Regulatory Authority (ACRA) is responsible for overseeing compliance with these obligations. ACRA will take enforcement action against companies found to be in breach.
What Obligations Do I Need to Fulfil?
Section 175 of the Companies Act requires states that companies must hold an AGM. As of 31 August 2018, listed companies in Singapore must hold their AGM within four months after their FY end. Other companies can hold an AGM within six months after their FY end.
If you are a private company in Singapore, you may not need to conduct an AGM if you fulfil the criteria under Section 175A of the Companies Act.
Section 197 of the Companies Act requires states that companies must file AR. Listed companies in Singapore must file their AR within five months after their FY end. Other companies can file their AR within seven months after their FY end.
Is an AGM and Annual Return Calculator Useful?
Yes, an AGM and annual return calculator is going to be a useful tool to have on hand. This is because penalties are imposed if an AGM is held late, or if annual returns are filed late.
If you hold your company AGM late, the penalty incurred is a composition fine of $300. If your annual returns are filed late, the penalty is a late lodgement fee of $300. As such, using an AGM and annual return calculator will avoid penalties and late submission.
Use Our FREE AGM and Annual Return Calculator
3E Accounting provides you with a free and easy to use AGM and Annual Return date calculator. Find out when you should hold your next AGM and file your Annual Return and never miss a date again! File your annual returns promptly and on time based on your current financial year (FY) end.