The Office of the Registrar of Companies has increased the penalty for late filing or non-filing of annual returns from GH₵650 to GH₵1,000 effective May 1, 2024.
This decision aims to discourage companies from defaulting on their annual return submissions, as required by the Companies Act, 2019 (Act 992). The Registrar’s Office has taken this step after multiple publications of defaulting companies in the media and on its official website.
The penalty increase is per Section 126 of the Companies Act, which mandates every company to file its Annual Returns at least once a year or thirteen months after incorporation.
The directive applies to private and public companies, including schools, churches, associations, NGOs, CSOs, and foundations. The ORC, in a statement, emphasized that filing of Annual Returns is compulsory for all incorporated companies in Ghana, regardless of their operational status.
