The confirmation statement must be filed at least once a year, within 14 days of the end of a "review period", which for existing companies will be 12 months beginning the day after the last review period (or, in this first year, 12 months beginning on the last annual return reporting date).

A company should be sure that, prior to completing any PSC details in the confirmation statement, it has served notice on the PSC requiring the person concerned to:

  • confirm whether he, she or it is a registrable PSC in relation to that company; and
  • where the person confirms that status, also confirms or corrects his, her or its particulars stated in the company's PSC register.

The confirmation statement will require every company to report details of each of its PSCs, including the person's name, nationality, country of residence, service address, residential address, the date he, she or it became a PSC, and which of the conditions of being a PSC was met. While the residential address and full date of birth of the PSC must be reported, the residential address will not appear on the public record and only the month and year of birth will be shown.

If a company does not have a PSC, has not yet identified its PSC, or the details are not yet confirmed with the PSC, the PSC register should contain one of the following prescribed statements, which will also appear on the company's confirmation statement and therefore on the public record:

  • the company knows or has reasonable cause to believe that there is no registrable person or registrable relevant legal entity in relation to it
  • the company knows or has reasonable cause to believe that there is a registrable person in relation to it but it has not identified the registrable person
  • the company has identified a registrable person in relation to it but all of the required particulars of that person have not been confirmed
  • the company has not yet completed taking reasonable steps to find out if there is anyone who is a registrable person or a registrable relevant legal entity in relation to it
  • the company has given a notice under section 790D of the Companies Act which has not been complied with
  • the addressee has failed to comply with a notice given by the company under section 790E of the Companies Act
  • the company has issued a restrictions notice under paragraph 1 of Schedule 1B to the Companies Act.

The confirmation statement should streamline a company's annual reporting obligations as only those details that have changed since the last statement are to be reported. No longer will companies have to complete lengthy statements of capital and shareholder lists if no changes have occurred since the last filing. However, we expect initially that confirmation statements – particularly in the first year – will require additional time and attention. Accordingly, companies should be sure to allocate time over and above that usually required for the preparation of an annual return.

Further guidance on the confirmation statement and PSC reporting obligations may be found here: