In this article we would be discussing the key benefit of filling annual returns for your business, company or incorporated trustee under the corporate affairs commission. Annual returns filling is a mandatory duty that must be discharged by every registered business, company or incorporated trustees in Nigeria.
Having successfully registered more than 500 businesses so far, I found out that a lot of them hardly check back to file an annual returns for their registered company, business or incorporated trustee.
In light of this, we will be discussing the benefits of filling annual returns for your business, company or incorporated trustee under the corporate affairs commission.

  1. Filling of annual returns is a mandatory exercise which is to be paid yearly to the Corporate Affairs Commission.
  2. After your business, company or incorporated trustee is registered, the payment is due to be paid after 1 calendar year from the date that such business is registered.
    For Example: A company is registered 2nd February 2020, annual returns would be due for payment after 2nd January 2021.
  3. The payment must be made before June (2nd Quarter of every year).
  4. Any payment made after the 2nd Quarter attract a penalty fee.

BENEFIT
1.Regular filling of annual returns makes your business, company or incorporated
trustee status active on the CAC portal. Visit https://search.cac.gov.ng/list to check your company status.

  1. While your business, company or incoporate trustee status is active, It gives any of your prospective client confidence about your business when trying to confirm your corporate identity on the cac portal.

Having known all these, kindly avail yourself the opportunity to confirm your company, business or incorporated trustee status on the Corporate Affairs Commission portal and then do the needful when necessary. BEST OF LUCK…

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