The Companies (Amendment) Bill 2019 (the “Bill“) has been published and its sole purpose is to amend section 343 of the Companies Act 2014 (the “2014 Act“) with respect to the time periods permitted for the filing of annual returns.
Currently, a company is obliged to file its annual return together with its statutory financial statements (if applicable) with the Companies Registration Office within 28 days of its annual return date.
The Bill proposes to change the current time limits from 28 days to 56 days in order to reduce the administrative burden on companies by simplifying the process for filing annual returns by turning it into a single-step process that can be carried out electronically. There will be no additional costs for companies that file their annual returns on time.
The Bill will now move through the Houses of the Oireachtas.
Click here for a link to the Bill.