Recent CIPC Changes for Non-Compliant Companies

Recent updates to the Companies and Intellectual Property Commission (CIPC) regulations have introduced stricter requirements for businesses, particularly regarding Annual Return (AR) submissions and beneficial ownership disclosures. Effective 1 July 2024, the CIPC strictly require beneficial ownership declarations to be submitted, and that companies and close corporations would be precluded from filing annual returns unless an updated beneficial ownership declaration has been submitted.

Non-compliance with these regulations can lead to significant penalties, including deregistration, which can disrupt business operations.

At AAA Tax Practitioners, we are experts in navigating these changes. We help businesses stay compliant by ensuring timely and accurate AR submissions to the CIPC. Our team takes the administrative burden off your shoulders, ensuring that your company avoids penalties and remains in good standing.

In addition, with the new beneficial ownership disclosure requirements, companies must identify and report the individuals who ultimately control or benefit from the business. This can be a complex and time-consuming process, but AAA Tax Practitioners are here to simplify it for you. We assist in gathering the necessary information, completing the required forms, and submitting them to the CIPC on your behalf.

By partnering with AAA Tax Practitioners, you can rest assured that your business will meet all regulatory obligations, avoiding the risks of non-compliance. Contact us today to ensure your company stays up-to-date and compliant with the latest CIPC requirements.