Introduction
As the financial year draws to a close, companies operating in Singapore are required to navigate a series of statutory filing obligations to remain compliant with the Accounting and Corporate Regulatory Authority (ACRA) and the Inland Revenue Authority of Singapore (IRAS). Failure to meet these obligations can result in late penalties, enforcement actions, or even company deregistration.
At Vanice Advisory, we work closely with businesses, family offices, and high-net-worth individuals (HNWIs) to ensure their entities meet all year-end filing requirements efficiently and accurately. To help you stay organised and avoid unnecessary complications, we’ve prepared a practical year-end filing checklist tailored for Singapore-registered companies.
Why Year-End Compliance Matters
Beyond regulatory penalties, incomplete or inaccurate filings can expose businesses to reputational risk, tax complications, and operational delays — particularly for companies involved in financing, mergers, or cross-border transactions. Proper year-end reporting also provides management and stakeholders with a clear picture of the company’s financial health, which is essential for informed decision-making.
Singapore’s regulatory framework requires businesses to adhere to specific deadlines for financial reporting, tax filings, and corporate secretarial compliance. Missing these obligations may lead to compounded issues over time, making it crucial to address year-end requirements proactively.
Year-End Filing Checklist for Singapore Companies
Here’s a step-by-step guide to help you stay on top of your year-end compliance obligations:
Hold the Annual General Meeting (AGM)
Unless exempt, private limited companies are required to hold an AGM within six months after the end of their financial year.
Key points:
- Present financial statements and obtain shareholder approval.
- Review and approve directors’ fees, dividends, and other resolutions.
- Ensure all AGM minutes and resolutions are properly recorded.
Exemption: Certain companies may be exempted from holding an AGM if all shareholders approve resolutions by written means.
Prepare Financial Statements in XBRL Format
All Singapore-incorporated companies (unless exempt) must prepare financial statements in accordance with the Singapore Financial Reporting Standards (SFRS).
Key points:
- Convert financial statements into ACRA’s required XBRL format for submission.
- Ensure accuracy, completeness, and alignment with audited figures if an audit is required.
File the Annual Return with ACRA
An Annual Return must be filed within seven months after the financial year-end, containing key company information.
Key points:
- Confirm company particulars, shareholding, and officer appointments.
- Include financial statements in XBRL (if applicable).
- File via ACRA’s BizFile+ portal.
Submit Corporate Income Tax Returns (Form C/ C-S/ C-S Lite)
Companies must submit tax returns to IRAS by 30 November (paper filing) or 15 December (e-filing) following the financial year-end.
Key points:
- Declare taxable income, expenses, and capital allowances.
- Prepare tax computations and supporting schedules.
- Submit Estimated Chargeable Income (ECI) within three months of financial year-end if required.
Review Corporate Secretarial Records
Ensure statutory registers, board resolutions, and shareholder records are updated.
Key points:
- Update changes in directors, shareholders, auditors, and company officers.
- Record share issuances, transfers, and related resolutions.
- Review registers of beneficial owners and controllers for accuracy.
Perform Bookkeeping and Account Reconciliation
Before preparing financial statements, ensure accounts are fully reconciled and up to date.
Key points:
- Reconcile bank, supplier, and customer accounts.
- Review outstanding invoices and accrued expenses.
- Adjust for provisions, depreciation, and asset valuations where necessary.
Review Employment and Staff Payments
Ensure all year-end employee benefits, bonuses, and CPF contributions are properly recorded.
Key points:
- Process year-end bonuses and accrued leave provisions.
- Confirm statutory contributions and tax clearances for foreign employees (if applicable).
- Issue IR8A forms for employee income by the following March.
How Vanice Advisory Can Help
Year-end filing can be time-consuming and complex, especially for companies managing multi-jurisdictional operations, M&A transactions, or complex ownership structures. Vanice Advisory provides end-to-end support to help businesses and HNWIs fulfil their year-end statutory obligations seamlessly.
Our services include:
- Corporate Secretarial Services for AGM preparation, annual returns, and record maintenance.
- Bookkeeping and Financial Reporting to ensure accurate, audit-ready financial statements.
- Tax Filing Assistance in collaboration with trusted tax agents and advisors.
- Compliance Health Checks to identify gaps in records, registers, and filing status before year-end.
By leveraging our experienced professionals and AI-enhanced compliance tools, we help clients avoid last-minute filing errors, regulatory penalties, and operational delays.
Final Thoughts
Year-end filing obligations are a critical part of corporate governance in Singapore. Timely and accurate filings protect businesses from regulatory risks while providing management with the financial clarity necessary for future planning.
Whether you’re managing a private limited company, a family office, or an investment vehicle, Vanice Advisory stands ready to support your year-end compliance, financial reporting, and corporate governance needs.
For assistance with your upcoming filings, contact us at vanice@vaniceadvisory.com.