Every year companies must submit an annual return. It can easily be done through the online registry, and only takes a few minutes – especially if you have no changes to make. If you do not submit an annual return on time you will have to pay late fees. If you fail to submit an annual return for 6 months, your company will be removed from the register. There are no annual return filing dates in December or January due to the holiday season. If your company incorporated in December, then the annual return filing date will be November. If your company incorporated in January, your filing date will be in February.
Getting a reminder
You will receive two reminders by email (to the address you provided). The first is on the day before the first day of your annual return filing month (eg 31 May if your filing month is June). You will receive a second reminder 5 days before the end of the filing month. The email will have a link that will take you to the VFSC registry website where you log in and follow the steps.
You will need to confirm any company details or update any changes.
Paying the fee
Pay the VFSC fee either online or in person to complete the annual return.
Submitting an annual return
Once you have paid your fee you will be able to click submit on your online application. If you have never used the VFSC Registry website, you will first need to create an account. Click on the Create an Account link from the home page. Once you have done this, search for your company, and click request authority. Follow these instructions for getting authority over your company.
Late fees and Removal
You have one month to submit your annual return. After that time you will have to pay a late fee. See this link for details.
If your annual return is more than 6 months late, your company will be removed from the company register. This has significant consequences for operating your business. Under the Companies Act, while removed, the assets of the company are transferred to the Crown.
Restoring your company
If you pay all outstanding annual return fees and late fees, you can have your company restored on the register. All assets will transfer back to the company and will be deemed never to have transferred to the Crown. There is a separate fee payable for restoring a company.