There are statutory obligations under the Companies Act that company directors must comply with or face enforcement action. Annual obligations such as holding annual general meetings and filing annual returns are examples of key statutory requirements.
Annual General Meeting
Unless exempted, your company is required to hold an annual general meeting (AGM). AGMs ensure that stakeholders of your company are kept updated about the company’s financial position and direction. It also provides a platform for stakeholders and company officers to communicate with each other at least once a year.
Read our guide on holding AGMs.
Private companies must file their annual return within 7 months after the financial year end.
Filing your company’s annual return on time helps to ensure proper and timely disclosure to all stakeholders. All companies including inactive and dormant companies are required to file annual returns. As long as your company’s status is “live”, you must file its annual return with us even if IRAS has exempted your company from filing its income tax return.
Read our guide on filing annual returns.
Find out more about our enforcement actions
against company directors who fail to hold AGMs and file annual returns.