Filing Bi-annual Statement of Affairs (Incorporated Trustees)

Filing Bi-annual Statement of Affairs (Incorporated Trustees)

NGN25,000.00

Filing a Bi-annual Statement of Affairs for Incorporated Trustees ensures your non-profit's compliance with CAC regulations and keeps your organization in good legal standing.

  • CAC Filing Fees Included
  • Receive copy of Bi-annual Statement of Affairs Filling Acknowledgment.
  • Receive copy of updated CAC Status Report.
  • 3 to 7 business days processing time.

Key Features of Bi-annual Statement of Affairs

  • Mandatory Filing: All organizations registered as Incorporated Trustees under the Companies and Allied Matters Act (CAMA) must file this statement. This includes churches, charities, clubs, associations, and other non-profit entities.

  • Filing Frequency: The Bi-annual Statement of Affairs must be filed twice a year, covering the periods - January 1st to June 30th (due by July 15th) and July 1st to December 31st (due by January 15th).

  • Deadline Compliance: Trustees must file within the specified deadlines to avoid daily penalties for late submission.

  • Income Reporting: The statement includes details on various income sources, such as - Subscriptions/Contributions, Donations/Grants, and Other income types with specific descriptions and amounts.

  • Liabilities Reporting: Trustees must report on liabilities, which may include - Judgments, Contracts, Estimated liabilities, and Other types of liabilities.

  • Asset Reporting: The statement requires details on the association’s assets, including - Cash at the bank, Cash on hand, and Other assets, with respective values.

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Requirements for Filing Bi-annual Statement of Affairs

  • Incorporated Trustee Information: Registration Number, Business name in full, Nature of business, Registered Office Address, and Date of Filling (dd/mm/yyyy).

  • Statement Period: The specific 6-months period covered by the statement (e.g., January 1st to June 30th or July 1st to December 31st).

  • Income Details: Provide the Value of subscriptions or contributions, the Value of donations or grants, and Details and description of other income generated (e.g., source and value).

  • Liabilities of the Association: Provide details of Judgments (monetary value), Contracts (monetary value), Estimated liabilities (monetary value), Other liabilities (description and value).

  • Assets of the Association: Provide details of Cash at the bank, Cash at hand, and Other assets (description and monetary value).

  • Updated Annual Returns Filing: Before filing for any Post-registration changes, ensure that all annual returns for the Incorporated Trustees are up to date.

  • Authorization: The application must be signed by the trustees, secretary, or an authorized representative of the Association.

Benefits of Filing Bi-annual Statement of Affairs for Incorporated Trustees

  • Legal Compliance: Ensures adherence to Section 845 of CAMA 2020, avoiding legal penalties and maintaining the organization's good standing.

  • Transparency and Accountability: Demonstrates responsible financial management and transparency in operations to stakeholders and regulatory bodies.

  • Enhanced Trust: Builds confidence among donors, members, and the public by showcasing the organization's commitment to proper governance.

  • Penalty Avoidance: Timely filing helps prevent daily penalties for non-compliance, reducing unnecessary financial liabilities.

  • Access to Opportunities: Maintains eligibility for grants, government support, and partnerships that require proof of compliance.

  • Regulatory Record Updates: Ensures the Corporate Affairs Commission (CAC) has accurate and up-to-date records of the organization.

Discover CAC Post-Registration Service

File Bi-annual Statement of Affairs for Incorporated Trustees in Nigeria

Here's how SplashDict's CAC-accredited Chartered Secretaries can assist you:

  • Bi-annual Statement Filing: We handle the submission of your bi-annual statement of affairs with the CAC, ensuring full compliance.

  • Documentation: All documents are carefully prepared and verified for accuracy.

  • Transparent Pricing: No hidden charges—all CAC and filing fees are included.

  • Quick Turnaround: Receive your updated Status Report within 3 to 7 business days.

  • Ongoing Support: We provide continuous support for compliance and future statutory needs.

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