Bi-Annual Statement Of Affairs Of Incorporated Trustee

Bi-Annual Statement Of Affairs Of Incorporated Trustee

NGN25,000

File Bi-Annual Statement of Affairs with the CAC for your Incorporated Trustees (NGO, Church, Association, or Society) with CAC.

Ensure your organization remains compliant with CAC regulations by submitting this mandatory report, which provides an update on your organization’s activities and financial standing. Let SplashDict’s CAC-accredited experts handle the entire process seamlessly for you.

  • We’ll prepare and file the Bi-Annual Statement of Affairs with the CAC on your behalf.
  • CAC filing fees and other associated costs are included.
  • Receive an acknowledgment from the CAC confirming submission.
  • Ensure compliance with regulatory requirements.
  • Processing Time: 2 to 10 business days turnaround.

Service Fee (All inclusive):

NGN25,000

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 with CAC

  • 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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