CIPC: Annual Return Filing Update

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CIPC: Annual Return Filing Update

• 24 January 2023
• Accounting
• South African Accounting Academy

1. Migration progress

The CIPC ICT team is still processing and migrating data from the new system back to old system. The CIPC requests customers who are getting errors on incorrect billing of Annual Returns (AR) filing to please be patient. The team are taking a coordinated and structured approach to the migration. Currently the team is working on the name reservations and company registrations, which was scheduled to be concluded by close of business, 24 January 2023. The migration of the payment data on ARs commenced on Wednesday, 25 January.

2. Annual Return Filing

Following the process of migrating payment data to the old e-services and BizPortal systems, upon conclusion of the migration, customers who were incorrectly billed will receive credits to their customer code with the incorrectly billed amount. CIPC will refund customers on the following two conditions:

1. The system incorrectly requested penalties for AR’s during the period of 9 – 20 January 2023 and the customer submitted the 2023 AR.
2. Normal penalties incurred during 9 to 20 January 2023 but due to the system challenges, the customer could not submit/file AR. The condition is that the penalty should not have occurred before 9 January 2023.

• E.g. if the company penalty already commenced on or before 8 January 2023 – then the CIPC will not give a credit. If the penalty occurred during 9 – 20, then CIPC will credit the customer’s code with the incorrectly billed amount. Customers should log a ticket for the credit by 10 February 2023, as the CIPC will not allow open-ended credits.

3. AR Compliance status

All customers who filed Annual Returns and the transaction fee was received by CIPC during the period of 9 January 2023 to 20 January 2023; and received their certificate of compliance, may see a ‘non-compliant’ status when checking online on the old system from 23 January 2023. Customers are requested not to be concerned as this (non-compliant status) forms part of the migration of data the ICT team processed on 25 January 2023.

Click here to download the Notice:

https://www.cipc.co.za/wp-content/uploads/2023/01/CIPC-Customer-Update-Notice-on-AR-Filing-24_Jan_23.pdf

Relevance to Auditors, Independent Reviewers & Accountants:

• The Companies Act is yet another piece of legislation that your clients must comply with, and which you must assess compliance with.  If they don’t comply with the relevant laws and regulations, you have certain reporting obligations in terms of NOCLAR (NOn-Compliance with Laws And Regulations) – this could include reporting to management, qualifying your audit opinion, reporting a Reportable Irregularity, etc.
• As an auditor, independent reviewer and accountant, you also need to monitor your client’s compliance with the Companies Act and all relevant notices/enforcements/practice notes/customer letters issued by CIPC as the regulator.
• Where you perform these compliance tasks on behalf of your client, you need to ensure that you comply with all relevant notices/enforcements/practice notes/customer letters issued by CIPC as the regulator.

Relevance to Your clients:

• An entity (company or close corporation) has a duty to comply with the Companies Act, and all relevant notices/enforcements/practice notes/customer letters issued by CIPC as the regulator.

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