Registrar-General increases penalty for late filings

The Registrar-General’s Department (RGD) has announced an 11 per cent upward review of penalty for late filing of Annual Returns for Company Entities with effect from June 30, 2022.

The increment from GH¢450 to GH¢500 will affect Private Unlimited Companies, Public/Private Companies Limited by Shares, Public/Private Companies Limited by Guarantee of which include, churches, schools, unions, associations and clubs.

“These Companies are to file their Financial Statement together with their Annual Returns at a cost of GH¢50.00 per year,” the RGD said in a statement.

According to the Department, external companies, aside paying the fees for all defaulted years, would also pay $750.00 for defaulting to submitting their Accounts to the Department at a cost of $600.00 per year.

“Partnerships and Sole Proprietorships are to renew their businesses at a cost of GH¢50.00 and GH¢25.00 per year respectively,” the state agency indicated.

The RGD encouraged companies to file their beneficial ownership information at a cost of GH¢60.00 per company before filing their company’s annual returns or amendments.

It further called on companies who seek to change name to comply with provisions in the Companies Act, 2019(Act 992) which required a Company Secretary to submit a special resolution for a change of Company Name.

This, it noted, should include the addition of the appropriate suffix to the end of their Company’s Name by end of December 31, 2022.

“All Companies who have not as yet adopted a new constitution in place of their Company’s Regulations are being reminded to do so before the end of the year, 31st December 31, 2022.”

RGD further entreated clients to desist from using agents and intermediaries, adding that, “the Department does not have or operate a ‘Momo’ account, nor does it have a unit tasked to ‘cancel’ defaulted Companies.

“Please be advised to make payment on all transactions to our in-house Fidelity Bank and interact solely with staff who bears name tags when transacting business on our premises.”

Source: GNA

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