By Paula Horan, 17th of December 2015
From the Commencement of the 2014 Companies Act on the 1st June 2015 a company which has missed, or knows that it will miss the deadline for filing its annual return with the Companies Registration Office, may make an application to the District Court for an Order to extend its annual return date.
This application eliminates the need to pay late filing penalties and more importantly, retains the company’s Audit Exemption which is otherwise lost for two years.
Although the Order is entitling one year per company, it may at the discretion of the Court, be granted to include multiple years which returns are outstanding.
Important points to consider:
The company cannot represent itself and must engage a Solicitor or Barrister to make the application to the Court.
The company must make the application to the District Court where the location of the Registered Office is situated. However, in order for the application to be heard in the Dublin District Court, the company may change its registered office to avail of the familiarity of the Dublin District Court and change back to its original address after the order is issued.
The extension of time to file the annual return does not change the Annual Return Date (ARD) of the company.
A company that is struck off the register MAY NOT apply to the District Court for an extension of time.
Cost of service:
A company should consider the cost of the Late Penalty Fees and Audit Fees for two years against the cost of the application to the District Court. However, Group Companies may feel the cost of the application to the District Court more cost-effective.
- Complete our Order form (we can e-mail this to you on request)
- An application is made to the Court to secure a date for the hearing.
- A copy of the Affidavit and Notice of Motion is served on the Companies Registration Office who in turn, release their Letter of Consent.
- The Affidavit and Declaration of Service is filed before the Court Date
- When the Order is granted, it is filed with the Registrar of Companies and the company has 28 days to deliver their Annual Return/s and Accounts to the CRO of the new extension date.
For more information on the District Court application to extend an annual return or to proceed with an application, please do not hesitate to contact Company Bureau on +3531 646 1625 or email firstname.lastname@example.org. Alternatively, you can fill out a contact form on our website and an expert will be in touch as soon as possible.
Disclaimer This article is for guidance purposes only. It does not constitute legal or professional advice. No liability is accepted by Company Bureau for any action taken or not taken in reliance on the information set out in this article. Professional or legal advice should be obtained before taking or refraining from any action as a result of this article. Any and all information is subject to change.