ACRA has announced on 25th November 2021 that the late filing of Annual Lodgement for Singapore-incorporated companies, Variable Capital Companies (VCCs) and Limited Liability Partnerships (LLPs) penalty will be $300 for late filing within 3 months from due date and $600 for filing more than 3 months from due date.
It is a requirement for all ACRA - regulated entities to file Annual Lodgment / Declaration on time as this will ensure timely public disclosure of key information of the entity.
Singapore-incorporated companies, Variable Capital Companies (VCCs) can engage Corporate Service Providers to assist with corporate filing in order to avoid such unnecessary penalties.
Do note that ACRA has highlighted that they will not be sending reminders for these filing due dates.
Late Filing Penalty for Annual Lodgment
Entity Type | Filing due before 14 Jan 2022 | Filing due on or after 14 Jan 2022 |
|---|---|---|
Local companies | Flat rate of $300 | $300 within the first 3 months after filing due date; or $600 after the 3 months. |
Variable Capital Companies (VCC) | Flat rate of $300 | $300 within the first 3 months after filing due date; or $600 after the 3 months. |
Foreign Companies | 8-tier penalties ranging from $50 to $350 | $300 within the first 3 months after filing due date; or $600 after the 3 months. |
Limited Liability Partnership (LLP) | 8-tier penalties ranging from $50 to $350 | $300 within the first 3 months after filing due date; or $600 after the 3 months. |
*Source (ACRA Announcements) https://www.acra.gov.sg/announcements/file-your-annual-lodgments-on-time
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