TaxSavvyMY

Deadline to circulate financial statements

How long after year end do we have to finish our accounts?

The situation

Financial statements must be circulated to members within 6 months of the financial year end. They are then lodged with SSM within 30 days of circulation.

The law

  • Sec 258, Companies Act 2016: Financial statements circulated to members within 6 months of the financial year end
  • Sec 259, Companies Act 2016: Financial statements and reports lodged with SSM within 30 days of circulation

What it means for you

For a 31 December year end, circulate by 30 June and lodge by 30 July at the latest. SSM charges RM50 for audited and RM20 for unaudited statements. If you cannot meet the date, apply for an extension before it passes.

What to do

  1. Close the books soon after year end.
  2. Finish audit or unaudited statements.
  3. Circulate to members within 6 months.
  4. Lodge on MBRS within 30 days.

We can do this for youAnnual return, financial statements lodgement and audit exemption check: MYR 1,500

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