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How to File Annual Returns with CAC

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How to File Annual Returns with CAC

Filing annual returns with the Corporate Affairs Commission (CAC) is a mandatory requirement for registered businesses in Nigeria. It ensures that a company remains in good standing and compliant with Nigerian corporate laws. Failure to file annual returns can lead to penalties or even the delisting of the company from the CAC register.

This guide outlines the steps to file annual returns with CAC, the required documents, and other important considerations.

What Are Annual Returns

Annual returns are periodic statements submitted by a company to the CAC, providing updated information about its structure, shareholders, and financial standing. It is not a tax return but rather a confirmation that the company is still operational.

Who Should File Annual Returns

The following entities must file annual returns with CAC:

  • Private limited liability companies (LTD)
  • Public limited companies (PLC)
  • Business names (sole proprietorship and partnerships)
  • Incorporated trustees (NGOs, churches, and associations)

Newly registered companies are exempt from filing annual returns in their first year but must comply from the second year onward.

Required Documents for Filing Annual Returns

To file annual returns, a company must provide the following:

  • Completed CAC annual return form
  • Updated company details, including directors and shareholders
  • Audited financial statements for companies limited by shares (except small companies as defined by CAMA)
  • Evidence of payment of annual return fees

Step-by-Step Guide to Filing Annual Returns

Step 1: Confirm Your Company’s Status

Before proceeding, check your company’s status on the CAC portal to ensure it is active and in good standing. If the company has been inactive, additional steps may be required to restore its status.

Step 2: Obtain the CAC Annual Return Form

Visit the nearest CAC office or access the CAC portal to download the appropriate annual return form for your business type. Different forms exist for companies, business names, and incorporated trustees.

Step 3: Fill Out the Form and Prepare Required Documents

Carefully complete the annual return form with accurate company details. Attach required documents such as financial statements, list of shareholders and directors, and any additional supporting documents.

Step 4: Pay the Annual Return Fee

The CAC requires payment of a filing fee, which varies depending on the business type. Payment can be made online through the CAC portal or at designated bank branches.

Step 5: Submit Your Annual Returns

Submit the completed form and required documents at a CAC office or upload them through the CAC online platform. Keep a copy of the submission receipt for your records.

Step 6: Obtain Acknowledgment

Once CAC processes your annual return, you will receive an acknowledgment confirming that your submission has been accepted.

Consequences of Not Filing Annual Returns

  • Late filing attracts penalties, which increase over time
  • Persistent failure to file can lead to the company being marked as inactive
  • The company may be struck off from the CAC register
  • Legal and business credibility issues may arise, making it difficult to secure loans or contracts

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