| Length of Default (Days) |
Late Lodgement Fee |
| Not more than 30 days |
$60 |
| Between 31 days to 60 days (Both days inclusive) |
$120 |
| Between 61 days to 90 days (Both days inclusive) |
$170 |
| Between 91 days to 180 days (Both days inclusive) |
$220 |
| Between 181 days to 365 days (Both days inclusive) |
$250 |
| Between 366 days to 730 days (Both days inclusive) |
$350 |
| Between 731 days to 1095 days (Both days inclusive) |
$350 |
| More than 1096 days |
$350 |
The legal requirement
Every company is required under the Companies Act to hold its Annual General Meeting (AGM) once in every calendar year and not more than 15 months (18 months for a new company) after the last preceding AGM (section 175). At the AGM, the directors must lay before the shareholders a profit and loss account that is not more than 6 months old at the date of the meeting (section 201). For a public listed company the profit and loss accounts must not be more than 4 months at the date of the meeting. The company is required to file its Annual Return (AR) within 1 month from the date of the AGM (section 197). Failure to comply with any of the 3 separate legal requirements under the law amounts to an offence and an appropriate penalty will be imposed.
Below are examples of when penalties will be imposed on lodging the AR.
Example 1
ABC Company Private Limited is due to hold its AGM by 25 May 2010 (section 175) to lay its accounts made up to 31 December 2009 (section 201). The company held its AGM on 14 October 2012 and filed the AR on 10 November 2012 (section 197). The company has breached sections 175 and 201. The penalties imposed are as follows:
| Legal Requirements |
Due Date |
AGM Date/Filing Date |
Period of Default |
Penalty |
| Section 175 |
25 May 2010 |
14 October 2012 |
26 May 2010 to 14 October 2012 |
$350 |
| Section 197 |
On or before 14 November 2012 |
10 November 2012 |
Nil (filed within 1 month from AGM date) |
Nil |
| Section 201 |
30 June 2010 |
14 October 2012 |
1 July 2010 to 14 October 2012 |
$350 |
Example 2
ABC Company Private Limited is due to hold its AGM by 1 November 2011 (section 175) to lay its accounts made up to 30 September 2011 (section 201). The company held its AGM on 15 October 2011 and filed the AR on 29 March 2012 (section 197). The company has breached section 197. The penalty imposed on the company is as follows:
| Legal Requirements |
Due Date |
AGM Date/Filing Date |
Period of Default |
Penalty |
| Section 175 |
1 November 2011 |
15 October 2011 |
Nil |
Nil |
| Section 197 |
On or before 15 November 2011 |
29 March 2012 |
16 November 2011 to 29 March 2012 |
$220 |
| Section 201 |
31 March 2012 |
15 October 2011 |
Nil |
Nil |