Penalty charges for late submission – the Accounting Act

How will the claim be collected?

(Click the steps for more information)

Voluntary collection

1. Invoice


2. Notice of legal enforcement of claim

Legal enforcement

3. Notice of attachment proceedings


4. Attachment proceedings


If you do not submit complete annual accounts, an annual report and auditor's report to the Register of Company Accounts before 1 August (for submission on paper) or 1 September (for submission online), you will have to pay a penalty charge. This applies to entities for whom the financial year closes between 1 July and 31 December. For entities for whom the financial year closes between 1 January and 30 June, the corresponding deadlines are 1 February for submission on paper and 1 March for submission online.

The claim will first be registered against the entity. If the entity fails to pay, the partners, members or the general manager must pay the claim (joint and several liability).

If you wish to apply for cancellation of the debt or appeal against the penalty charge, it is the Register of Company Accounts that will consider the appeal. We will not stop collecting on the claim while the appeal is being considered unless we are told to do so by the Register of Company Accounts.

Penalty charges

Relevant legal provisions

- imposition of penalty charges, cf. the Accounting Act Section 8-3 fourth paragraph, cf. the Enforcement of Claims Act Section 7-2 e)

- the Accounting Act section 8-4.

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