Query
I have prepared a form in CAS 360. The document screen is showing a penalty amount beside this form.
What is this amount and how is it calculated?
Lodgment of Forms (other than the Annual Return)
Companies and directors have to comply with a number of statutory obligations under the Companies Act 1967, which includes lodging documents with ACRA within a certain timeframe.
The penalty column in the Document screen represents the potential late fee penalty that may apply if you lodge the document to ACRA late. This does not represent the initial lodgement fee (if one applies).
The penalty is calculated based on the number of days the form is late for lodgment.
See, Late Lodgement Fees (other than for late lodgement of Annual Return)
Example:
A company changed its registered office on 15th March 2012. The company lodged the prescribed form on 23 May 2012. The company has breached the Companies Act 1967, as a change in the registered office address of any company must be lodged on a prescribed form within 14 days after the change.
| Date of Change: 15th March 2012 | Due Date: 29th March 2012 |
| Date of Lodgment: 23 May 2012 | Length of Default: 30 March 2012 to 23 May 2012 = 54 days |
| Late Lodgement Fee: $75 | |
Lodgment of Annual Return (from 30/04/2021)
All Singapore-incorporated companies are required to file the Annual Return with ACRA, within a prescribed timeline.
The penalty column in the Document screen represents the potential late fee penalty that may apply if you file the annual return & declaration to ACRA late. This does not represent the initial lodgement fee.
See, Revised Penalty Framework for Annual Lodgmetns to take effect from 30 Apr 2021.
- $300 for late lodgment filed within 3 months after filing due date; or
- $600 for late lodgment filed more than 3 months after filing due date.