Annual Filing Requirement for Singapore Companies

Annual Filing Requirement for Singapore CompaniesIrrespective of its size or type, each Singaporean company has to fulfil annual legal obligations mandated by ACRA and IRAS. These annual filing requirements are easy to comply with. However, small business owners find it difficult to do it within the due dates and do it accurately.

TACRA is the national regulator of all Singaporean businesses. IRAS collects taxes and describes annual filing requirements.


Filing of Annual Returns (AR) with ACRA

The Annual Return is an electronic document that gives a financial account of the company. The companies must file their annual returns under the provisions of S175, S197, and S201 of the Companies Act. It starts with tabling their accounts to the AGM. They also need to file their AR with ACRA within one month after AGM or the passing of written resolutions.

It includes information like:

  • Company Name & registration number
  • Registered address
  • Principle activities
  • Company type during the financial year
  • Share capital & summary of shares
  • Registered charges
  • Particulars of company officers/Shareholders
  • Dates of Annual Returns, AGM, & Accounts
  • Financial statements in XBRL format (if needed)
  • The AR filed to ACRA must bear the signs of director or secretary


Who Files Annual Returns of the Company?

Filing of the company’s accounts or submission of AR to ACRA is the responsibility of the company director or secretary. It is done via ACRA’s portal BizFinX.

However, many companies outsource the task to a registered filing agent. It is especially beneficial to hire a reputed provider that offers accounting services including XBRL filing services Singapore.


Tabling Your Company Accounts to AGM

The director presents the company’s accounts, complying with SFRS, to the AGM. It includes:

  • Director’s Report & statement by directors
  • Balance sheet
  • Profit and loss statement
  • Cash flow statement
  • Statement of changes in equity
  • An audit report by an independent auditor (if needed)


Annual General Meeting (AGM)

Singapore companies need to hold their AGMs each financial year and present their accounts to the shareholders. ACRA holds company directors responsible for this task.

As per Section 201 of the Singapore Companies Act, the tabled financial accounts needs to be freshly prepared. The shareholders deliberate on the Director’s Report/ Audit Report, Appoint/Reappoint of Auditors, etc.


Should I File Unaudited or Audited Accounts with ACRA?

A ‘SMALL COMPANY’ is allowed to prepare an unaudited account or the Director’s Report and file it with ACRA. A Singapore private limited company is tagged as a ‘SMALL COMPANY’ if it fulfils the 2 of 3 following criteria.

  • Its total annual revenue is $10 Million or less
  • Its total assets are $10 Million or less
  • Its employees are 50 or less in number

Rest of the companies must prepare and file their audited accounts with ACRA.


Singapore Dormant Companies

Singapore dormant companies also need to file their AR to ACRA. However, they are not required to get their accounts audited. They are allowed to file unaudited accounts along with their Income Tax Returns (Form C).


Filing in XBRL Format

Singaporean companies, unlimited or limited by shares, who needs to file their full set of financial statements in the revised XBRL format with ACRA. They must follow the revised XBRL filing requirements that came into effect from 1 Jan 2021. An experienced provider of XBRL filing services Singapore can help you out with the filing.
Many Singaporean business owners multi-task and find it difficult to steal time to ensure their compliance. SBS Consulting provides under-the-one-roof accounting services. If you need an expert hand with the company’s annual filing, call us on +65 6536 0036 or email us at for professional advise.