Filing Annual Returns: When and How?

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Annual Return is a yearly statement which gives essential information about a firm’s composition, activities, and financial position, and which must be filed by every active incorporated or registered firm with an appropriate authority.

In Nigeria, annual return is a mandatory requirement every enterprise, private limited company, or incorporated trustees must fulfil at least once in every year by making and delivering to the Corporate Affairs Commission (CAC) a return in the prescribed form containing the specified matters relating to the organization in accordance to the provisions of the Companies and Allied Matters Act (CAMA).

(Read Section 370 – 378 CAMA)

When is Annual Return Filed?

An annual return must be filed annually. New companies may not file its return within the first 18 months of its incorporation, while for older companies, the annual return is due no later than 42 days after its Annual General Meeting. Section 374 CAMA.

CAC Forms and Documents Required for Filling Annual Return

  1. FORM CAC 10: Annual Return for a small company
  2. FORM CAC 10 A: Annual Return for a company having shares other than a small company.
  3. FORM CAC 10B: Annual Return for a company limited by guarantee.
  4. FORM CAC 10C: Annual Return of exempted foreign companies.
  5. FORM CAC/IT 4: Annual Return for Incorporated Trustee.
  6. FORM CAC/BN/7: Annual Return for Business Name.

Documents can be downloaded from here

How to File Annual Returns

The procedures for filing returns for enterprises and incorporated companies are almost the same but for the purpose of clarity, the two procedures are separately itemised below:

For Enterprises:

  1. Download annual returns form
  2. Fill the form properly
  3. The annual return shall be signed by the proprietors, and where a company is a proprietor, by a director and secretary of the company
  4. Submit the completed form for verification and assessment
  5. Pay the required annual returns fee to the authorised bank
  6. Keep your receipt/teller as evidence of payment
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For Companies:

  1. Company’s Statement of Affairs or Audited Statement of Accounts prepared by licensed Auditors.
  2. Download annual returns form
  3. Fill the form properly and sign
  4. Attached your Company’s Statement of Affairs or Audited Statement of Accounts duly signed by the Director and Company’s Secretary.
  5. Submit the completed form for verification and assessment
  6. Pay the required fee to the authorised bank
  7. Keep your receipt/teller as evidence of payment.
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