Bi-Annual Statement Of Affairs Of Incorporated Trustee

NGN 750,000.0

10 days

Corporate Returns

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Description

Information about the compliance service

 According to the Companies and Allied Matters Act (CAMA), every Incorporated Trustee is required to submit a statement of affairs twice a year. This document gives the CAC a comprehensive overview of the financial position and activities of the organization. 

Requirements

Info and documents needed for this service

  1. Name of Association and Classification.
  2. Details of Registered Office.
  3. Details of period the Bi-Annual Statement of Affairs covers.
  4. Details of Subscription/Contributions.
  5. Details of Donations/Grants to the Association.
  6. Description and Value of Income generated.
  7. Details of liabilities of the Association for the period, which includes: Judgment, contracts, estimated liabilities and value of liabilities.
  8. Assets of the Association which includes: value of cash at the Bank, value of cash at hand, other assets and description of those assets

Process

Steps involved in this compliance service

  1. File all necessary documentation and prepare relevant documents (depending on whether you are filing annual returns or bi-annual statement of affairs.
  2. Fill all required information.
  3. Submit all necessary documentation and pay the Commission’s fees at the CRP.
  4. Obtain receipt of acknowledgment of payment (from Remita).
  5. Obtain confirmation of statement of affairs filing acceptance from Corporate Affairs Commission.

FAQs

Frequently asked questions about this service

  1. Who is required to file the Bi-annual Statement of Affairs? All organizations registered as incorporated trustee under the Companies and Allied Matters Act (CAMA) must file the statement. This includes churches, charities, clubs, associations, and other non-profit entities. 
  2. How often must this report be filed? The statement must be filed twice a year (every six months). The exact filing periods are determined by the CAC, and organizations are encouraged to keep track of these deadlines to avoid penalties for non-compliance. 
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