What is the purpose of filing a company or close corporation annual return?
All companies (including external companies) and close corporations are required by law to file their annual returns with the CIPC on an annual basis, within a prescribed time period. The purpose for the filing of such annual returns is to confirm whether a company or close corporation is still in business/trading, or if it will be in business in the near future. Therefore, if annual returns are not filed within the prescribed time period, the assumption is that the company or close corporation is inactive, and as such CIPC will start the deregistration process to remove the company or close corporation from its active records. The legal effect of the deregistration process, is that the juristic personality is withdrawn and the company or close corporation ceases to exist.
Will my personal detail as a director or member be disclosed on the annual return?
Due to security concerns relating to the disclosure of personal information CIPC has affected the following changes relating to annual returns:
• Only the first 6 digits of a director's or member's identity number will be displayed; and
• The annual return filing certificate will not display the identity number, addresses, or contact details of a director or member. Will I be able to update any details of the company or close corporation on the annual return?
What is meant by business description?
It is the industry that the company or close corporation mainly operated in for the annual return period, for example construction, catering, cleaning services, import/export, transport, financial sector, investment, mining, agriculture, marketing. The indicated examples are not an inclusive list of all industries.
What is meant by principal place of business?
It is the primary address from which the company or close corporation conduct its business. It may not necessarily be the same as the registered office.