CRO Newsletter Issue 171

ANNUAL RETURNS - OCTOBER PEAK

There are over 50,000 companies with an annual return date of 30 September and a filing deadline of 28 October. If you are filing an annual return in respect of one of these companies, you are requested to ensure that your correctly completed return is delivered to the CRO on-time. The only way of doing this is by filing online.

E-Filing is Mandatory

The Companies Registration Office (CRO) has introduced mandatory electronic filing for the submission of an Annual Return and its associated financial statements since 1 June 2017. https://www.cro.ie/Annual-Return/Filing-an-Annual-Return/FAQ-Mandatory-E-Filing

This applies to all Irish companies.

Companies and Presenters should ensure that they provide the correct email addresses to ensure they are alerted when their documents are sent back as they will no longer receive a letter or documents by post.

Once the B1 (Annual Return form) has been filed on CORE within 28 days of it annual return date, the Financial Statements must be uploaded as a PDF no later than the end of the second 28 days and before the signature page is delivered to the CRO.

Payment must be made for an annual return online

The filing fee for an e-B1 is €20. Remember that if you have chosen to pay by credit card, payment will be taken immediately and is NON REFUNDABLE (as we cannot store card details). If you would prefer to pay by customer account, payment will not be deducted from your customer account until signatures are applied.
To open a customer account online please go to https://search.cro.ie/company/NewCustomer.aspx

If an annual return is filed late, late filing penalties apply and, where applicable, the company also loses its entitlement to claim audit exemption in the current year and in the following year. 

Please note that the CRO Public Office is based in Gloucester Place Lower, Dublin 1, on the corner with Sean MacDermott Street.

Problems with e-filing:

Should you experience difficulties filing your form on-line, help with the content of the form can be obtained from:

LoCall 1890-252536*/059-9178981/01-8045394 or eb1@dbei.gov.ie  

Help with technical or IT issues is available from:

01-8045377 / 01 8045355 or electronic.filing@dbei.gov.ie  

* Note that the rates charged for the use of 1890 (LoCall)numbers may vary among different service providers.

Important points to note when filing a B1 form:

Once an e-B1 is submitted online not later than 28 days after the ARD, the company has a further 28 days to either digitally sign the B1 (in which case no paperwork may need to be delivered to the CRO) or manually sign and deliver the signature page to the CRO.

If the B1 signature page is not printed, signed and delivered to the CRO within 28 days of the B1 being submitting online, the annual return will be late and the company will incur late penalties and lose audit exemption in the current year and in the following year.

Financial Statements must be uploaded as a PDF no later than the end of the second 28 days and before the signature page is delivered to the CRO.

Further Information
Filing on CORE: https://core.cro.ie  
Frequently Asked Questions on Mandatory Electronic Filing
Filing through a software package website: Please contact your software provider ROS (Revenue Online Service) https://www.ros.ie  

FORMAT OF BALANCE SHEETS

Under the Companies Act 2014, as amended by the Companies (Accounting) Act 2017, where a Company is claiming audit exemption their Balance Sheet
should clearly show the exemption statements and the signatures of the directors on the face of the balance sheet. Other information such as the Notes to the Financial Statements should be attached to the Balance sheet. [S355(3) & (4) of the Companies Act 2014, as amended by S53 of the Companies (Accounting) Act 2017)] 
 

FORM B1 - DOCUMENTS RETURNED 

The CRO/Registrar would like to draw to the attention of presenters that since the introduction of mandatory e-filing on the 1st June 2017 that annual returns and other electronically filed forms are only being sent back to the presenter for correction electronically by e-mail. No hard copies of the annual returns and other forms will be posted out.

The presenter is required to edit and resubmit the B1, B2, B10 etc and return it to the CRO/Registrar. Please note that annual returns must be resubmitted within fourteen days of the dated on the send back letter or otherwise the law deems it to be late. 
 
 
FINANCIAL YEAR END – REMINDER 

The Registrar would like to draw the attention of Companies and presenters to the fact that if the company is late in delivering its annual return to the Registrar it may not file a B83 to alter the company’s financial year end for that financial year. Since the introduction of the Companies Act 2014, on a transitional basis, requests to accept a B83 late were considered on an individual basis. Any discretion in this matter will no longer apply from 1st January 2018. (S288(8) of Companies Act 2014). 
 
 
CHANGE OF BANKING DETAILS FOR CRO CUSTOMER ACCOUNT HOLDERS

The CRO recently notified all Customer Account Holders of a change to the CRO’s receiving bank account, including details of the new receiving account. Please be advised that the CRO’s account with Ulster Bank will be closed from the 30th September 2017, and any electronic funds transfers (EFTs) lodged to that account after that date will not be received, which may affect a company’s ability to pay submission filing fees at peak filing time.

If you have any queries, or you would like to reconfirm the new bank account details, please email cro.customer.accounts@dbei.gov.ie  
 
 
INACTIVE CRO CUSTOMER ACCOUNTS

Please note the CRO have recently issued letters to all CRO Account Holders where the accounts have been inactive since 2015. If you have received this letter and wish to close your CRO Customer Account, please contact the CRO Officer noted on the letter. 
 
 
WHY NOT FOLLOW CRO ON TWITTER 

CRO posts information on twitter regarding updates/changes to practices https://twitter.com/cro_ie