If you have a Limited Liability Company, you are required by law to file an Annual Return form yearly.
Annual returns are periodic filings that Limited Liability Companies submit to the Companies Registry to confirm or update the Company's essential information. These filings aim to ensure that the government's record of the Company remains current and accurate.
Annual returns typically include:
Annual returns do not contain financial information, like income or expenses—that’s generally reserved for financial statements or tax filings. Instead, they focus on organizational details. Filing these returns is mandatory, and failure to comply can result in penalties, loss of good standing, or even the striking off of the company.
To file annual returns online, all directors, secretaries, and the company must have a Companies Registry Online System (CROS) account. You must create a Companies Registry Account (CRA) to access the system. Once logged in, you can complete and submit the Annual Return and the required fee and then deliver the signed Annual Return to the Registry.
To file for annual returns, you will need to provide the company's name, address, and contact details; the names, addresses, and contact information of directors, company secretaries, and members; a summary of the shares issued along with shareholder details; and information about the company's debts, liabilities, and loans.
Yes, to have MyBiz prepare and file your Annual Return forms, the fee is currently $506 per company per year.
To avoid late filing penalties an Annual Return must be filed within 30 days of the Company's Anniversary date of Incorporation.
If an individual or company does not submit their Annual Return on time, the Registrar of Companies may impose a penalty of three hundred TT dollars ($300.00 TTD) for each month, or any portion of a month, that the filing is overdue and possibly face having their company struck off the register.
The Attorney General may periodically announce an amnesty on penalties for late filing of annual returns. During an amnesty period, companies can submit all outstanding annual returns without incurring penalty fees; however, the standard filing fee for each annual return is still required.
If your Company has been struck off the registry, MyBiz can help you reinstate the struck-off company.
MyBiz would file the annual return form 28 or form 29 on your behalf.
MyBiz became necessary to keep companies compliant.
The Office of the Attorney General and Ministry of Legal Affairs publishes warnings like the one below:
Non-compliant company incorporations incur severe penalties and even imprisonment.
The Main Benefits of MyBiz are:
Company Information
Information about Directors & Members
Shareholder Information
Information about the Company's Debts
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