Why submit an Annual Return?
All companies (including external companies) and close corporations are required by law to lodge their annual returns with CIPC every year during the anniversary month of their incorporation.
What is an Annual Return?
An annual return is a statutory return in terms of the Companies and Close Corporations Acts. Failure to do so will result in the Commission assuming that the company and/or close corporation is not doing business or is not intending on doing business in the near future.
Whether a company is trading or not, it is required to file an annual return in order for it not to be deregistered. Non-compliance with annual returns may lead to deregistration, which has the effect that the juristic personality is withdrawn and the company or close corporation ceases to exist.
