Annual Returns For Business Name
NGN 10,500.0
3 days
Corporate Returns
Description
Information about the compliance service
The annual returns filling with the Corporate Affairs Commission (CAC) is a mandatory process that all Nigerian businesses must complete to show to the CAC that their business is active, compliant and operational.
Requirements
Info and documents needed for this service
- Business name.
- General nature of business.
- Registered address of business.
- Branch address (if any) of business.
- Proprietor and partners information.
- Annual returns filing year.
Process
Steps involved in this compliance service
Fill the form.
To fill the form, the following information must be provided:
To fill the form, the following information must be provided:
- Registration number.
- Business name.
- General nature of business.
- Registered address of business,
- Branch address of the business (if any),
- Annual returns details.
- Particulars of proprietors/ partners,
- Particulars of corporate partners (if any) and Authentication.
FAQs
Frequently asked questions about this service
1. Is filing of annual returns compulsory?
Yes it is. It is a compulsory requirement for businesses in Nigeria to file their annual returns, this is to confirm to the CAC that the business is still active and operational.
2. Is there a penalty for late filing?
Yes there is, the penalty fee for late filing is ₦5,000.
3. Are annual returns the same as tax returns?
No, they are not. Annual returns are filed with the CAC to update the business's information, while tax returns are filed with the relevant tax authorities to report the business's income and tax liability.
Note that the fee of 10,500 covers annual returns filing for business names for only a single year. If there are any outstanding filings from previous years, a penalty fee for late filing applies for each of those years. The fees vary depending on the number of years whose annual returns are outstanding. Where it is discovered that there are outstanding/backlog filings from previous years, an invoice would be sent via mail covering the additional penalty fees for late filing that are due.
Yes it is. It is a compulsory requirement for businesses in Nigeria to file their annual returns, this is to confirm to the CAC that the business is still active and operational.
2. Is there a penalty for late filing?
Yes there is, the penalty fee for late filing is ₦5,000.
3. Are annual returns the same as tax returns?
No, they are not. Annual returns are filed with the CAC to update the business's information, while tax returns are filed with the relevant tax authorities to report the business's income and tax liability.
Note that the fee of 10,500 covers annual returns filing for business names for only a single year. If there are any outstanding filings from previous years, a penalty fee for late filing applies for each of those years. The fees vary depending on the number of years whose annual returns are outstanding. Where it is discovered that there are outstanding/backlog filings from previous years, an invoice would be sent via mail covering the additional penalty fees for late filing that are due.