Set as the most important requirement by Companies Commission of Malaysia (SSM), as a company owner, you need to know what is the Annual Return and when to submit it to SSM.
Sec 68. (1) of Companies Act 2016, A company shall lodge with the Registrar an annual return for each calendar year not later than thirty days from the anniversary of its incorporation date.
The company and every officer who contravene this section commit an offence and shall, on conviction, be liable to a fine not exceeding fifty thousand ringgit (RM50,000) and, in the case of a continuing offence, to a further fine not exceeding one thousand ringgit (RM1,000) for each day during which the offence continues after conviction.
What is the Annual Return
It is a summary of the profile a company that include all the essential general information of the company that needs to be file each year to Suruhanjaya Syarikat Malaysia (SSM), including:
- Registered office address
- Branch office address
- Principal business activities
- Total authorized capital registered
- Total paid-up capital
- Charges registered with SSM (i.e. company assets pledged)
- Company directors
- Appointed company secretary
- Shareholders
Where to submit Annual Return
MBRS portal or at the nearest SSM office
The company secretary usually will log on to SSM website – MBRS portal to file the annual return.
https://www.ssm4u.com.my/?0
When to lodge Annual Return to SSM
The annual return that is signed by a director/ manager/ secretary of the company should be lodged with Companies Commission of Malaysia (SSM) within 30 days after its Annual General Meeting (AGM), in accordance with the Company Act 2016.
How much to pay for lodgement of annual return
The lodgement of annual return under sec 68 of the Act with SSM will cost filing fee of:
- Private company- RM150.00
- Public company- RM500.00
Of course, this excludes the preparation of annual returns charged by the company secretary which usually costs RM300- RM500.
Possible penalties in case of failure to lodge Annual Return
Failure to file Annual Return and/or Financial Statements is considered as an offence. If convicted, the director and the company have the possible to face penalties under section 68 and 259 of the Companies Act 2016.
An annual return is not an income tax return and it is a requirement for corporate entities to file its company’s annual return every year.
