Business Name Enterprise: Filing of annual return. This CAC annual returns for business name. It goes with form CAC bn/7 annual return for business name. This post gives details of documents required. It highlights also penalty for late filing of the return in Nigeria. In fact, this is Business Name Enterprise: Filing of annual return
As a matter of fact, periodic returns are monthly or quarterly returns for reporting transactions during the month or quarter. But, C.A.C annual return is not a common periodic returns. In fact, it’s a return of a business activity for a business year. It’s of special significance and so, very compulsory for every incorporated business enterprise name.
WHO NEEDS TO DO THIS?
Furthermore, it’s mandatory for every enterprise to file annually by delivering to CAC a return in the prescribed form. This form contains specified matters relating to the organisation in accordance with Companies and Allied Matters Act (CAMA).
REQUIREMENTS & PROCEDURE
Furthermore, requirement for filing annual returns shall be:
- A duly completed annual return form
- Accompanied by relevant attachments
- Such form shall be signed by the proprietor
- Where a company is the proprietor, the director and secretary of the company.
- Payment of the statutory fee.
Business Name Enterprise: Filing of annual return – WHY MAKE THIS RETURN:
As a matter of fact, filing of the annual return by a business helps to simply keep CAC abreast that such business is still active. In fact, it makes the business name avoid being delisted from CAC data base.
The filing fee is relatively cheap. However, late returns attract a penalty which is equivalent to 100% of the normal fee. This particular annual returns shall be filed not later than 30th June of the year.
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In conclusion, every register business, trade or sole proprietor must make this return annually. So, it must be on a prescribed form which conforms to the provisions of Companies and Allied Matters Act (CAMA).
WHAT WE OFFER For Business Name Enterprise: Filing of annual return
Finally, we offer you professional advice. We offer you enlightenment just as we have done here. In fact, we owe you our professional services. Therefore, we wish you will contact us when in need of corporate services with CAC. Business incorporation, changes or alterations on your incorporation documents. In fact, we will help you do your annual returns regularly. You don’t need to bother about the documentations and procedure; we will do all of that.
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