Annual Returns Filing (Business Name)

₦15,000.00

Filing Annual Returns for Sole Proprietorship and General Partnership ensures your Business Name's compliance with CAC regulations.

Key Features of Annual Returns for Business Names

Legal Compliance: Filing annual returns is a statutory obligation under the Companies and Allied Matters Act (CAMA), ensuring business names remain compliant and recognized by the CAC.
Access to Post-Incorporation Services: Filing annual returns is necessary to access vital CAC post-registration services, such as obtaining documents, updating business particulars, or changing the registered office address.
Filing Timeline: Business Names, whether active or dormant, must file annual returns by June 30th each year (excluding the year of registration) to avoid penalties and maintain legal recognition.
Updates Public Records: Filing ensures that the business name's details, such as the registered address and proprietor information, are accurate and up-to-date in the CAC public registry.
Penalties for Non-Compliance: Failure to file on time may result in fines or legal restrictions, including being marked as inactive on the CAC register.
Ease of Filing: The CAC online portal has simplified the process. All that is required is to employ the services of an accredited agent, to carry out the filing on your behalf.
Separate from Taxes: Annual returns are distinct from tax filings handled by the Federal or State Inland Revenue Services. They focus solely on corporate compliance, not taxation.

Business Name Details: This includes the Registration Number, the full Business Name, the general nature of the business activities, the Principal Place of Business, and Branch Address (if applicable).
Annual Return Details: For the year you are filing, you will need to provide the end date of the financial year or accounting year. Additionally, disclose the business's annual turnover and total net assets in Nigerian Naira (₦).
Particulars of Proprietor/Partners: The details of the proprietor or partners should include full names (surname and forenames), nationality, date of birth, gender, telephone number, identity number and type, email address, occupation, residential address (full details), service address (full details), as well as the proprietor/partner's signature and the date of signing.
Particulars of Corporate Partner (if applicable): If the business has any corporate partners, their details must be included. This includes the name of the corporate body, its registration number, and the corporate partner's full address.
Certification: The filing must be authenticated by the proprietor, partner, or an authorized representative, confirming that all provided information is accurate and complete.

Ensures Legal Compliance: Filing annual returns keeps your business name compliant with Nigerian law, avoiding fines, penalties, or deregistration.
Avoid Being Marked 'Inactive': Filling annual returns prevents the business from being marked as inactive by the CAC, which could limit operations and legal recognition.
Avoids Penalties for Late Filing: The Commission imposes penalties on companies for late filing, which must be paid when rectifying the filing situation.
Avoids Striking Off from the Register: A Business Name may be struck off the register if the business is in default of filing returns for 10 consecutive years.
Ease of Future Regulatory Processes: Regular compliance can simplify the process of obtaining other regulatory approvals, renewing licenses, or making changes to the Business' structure or operations.
Enhances Credibility: Demonstrates accountability and professionalism, increasing trust with clients, investors, and partners.

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

Annual Returns Filing: We file your business name' annual returns with the CAC on your behalf.
Documentation Preparation: We ensure all required documents are properly prepared for filing.
Transparent Pricing: Filing fees are included with no hidden charges.
Quick Turnaround: Receive official annual returns acknowledgment and status report within 3 to 7 business days.
Continuous Support: We assist with future compliance and statutory needs.