A company’s financial year end (FYE) represents the final day of its accounting period. The accounting period is the recognised interval to complete an accounting cycle of the business. The periodicity provides perspective about the profitability of the business on an ongoing basis. Records of transactions are kept over this period and reported in the form of financial statement.

Accounting periods can be 12 months or over 52 weeks. If you decide on a 12-month accounting period starting 1 January 2020, your company’s FYE will be 31 December 2020. But if you choose to have a 52-week accounting period starting Wednesday, 1 January 2020, your company’s FYE will be on Wednesday, 30 December 2020.

Choose FYE Carefully

You can choose any date as your company’s FYE. Common choices include 31 March, 30 June, 30 September or 31 December.

Deciding on the FYE is very important as it will determine when your corporate filings and taxes are due every year. Private companies are required to hold their annual general meetings (AGM) within 6 months after FYE and file their annual returns within 7 months after FYE.

Find out more about filing taxes and tax exemptions for new companies.

Read more about annual return filing requirements.

Illustrated examples

The tables below illustrate the due dates to hold the annual general meeting (AGM) and file the annual return (AR) with ACRA based on the different FYEs.

For private companies:

·       AGM is due 6 months after FYE

·       AR is due 7 months after FYE

Financial Year End AGM Due Date (FYE + 6 months) AR Due Date (FYE + 7 Months)
31 December 2020 30 June 2021 31 July 2021
30 June 2021 31 December 2021 31 January 2022
30 September 2021 31 March 2022  30 April 2022 

For private and public non-listed companies with share capital and keeping a branch register in any place outside Singapore:

·    AGM is due 6 months after FYE

·    AR is due 8 months after FYE

Financial Year End AGM Due Date (FYE + 6 months) AR Due Date (FYE + 8 Months)
31 December 2020 30 June 2021 31 August 2021
30 June 2021 31 December 2021 28 February 2022
 30 September 2021  31 March 2022  31 May 2022

Changing the FYE

Companies must notify the Registrar if there is any change in the FYE.

Companies may change the FYE for the current or immediate previous financial year.

However, companies cannot change their FYE if statutory deadlines for the holding of AGM, filing of AR or sending of financial statements have passed.

The Registrar’s approval to change the FYE will be required if:

•         The change in FYE will result in a financial year of more than 18 months; or

•         The previously changed FYE was changed on or after 31 August 2018 for a financial year ending on or after 31 August 2018 and it is within 5 years from the end of the previously changed FYE.

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