Annual Compliance Requirements
Overview of the mandatory filing requirements for an Irish Private Company Limited by Shares (LTD).
The Annual Return (Form B1)
Every Irish company must file an Annual Return (Form B1) with the Companies Registration Office (CRO) at least once in every calendar year. This return provides a snapshot of the company's details, including its directors, secretary, registered office, and share capital.
The Annual Return Date (ARD)
A company's first ARD is exactly six months after its date of incorporation. Crucially, no financial statements (accounts) are required with this first return. It is purely administrative.
Subsequent ARDs fall on the same date each year thereafter, and financial statements must be attached.
Penalties for Late Filing
The CRO enforces strict deadlines. Late filing of an Annual Return incurs a penalty of €100 immediately, plus €3 per day thereafter (up to a maximum of €1,200). More severely, the company loses its right to claim audit exemption for the following two years, forcing a costly statutory audit regardless of the company's size.
Financial Statements
When filing the second and subsequent Annual Returns, companies must attach their statutory financial statements.
Audit Exemption
Most small companies can avail of an audit exemption if they meet two of the following three criteria in the current and preceding financial year:
- Turnover does not exceed €12 million.
- Balance sheet total does not exceed €6 million.
- Average number of employees does not exceed 50.
Corporation Tax Return (Form CT1)
Separate from the CRO filings, a company must file an annual Corporation Tax Return (Form CT1) with the Revenue Commissioners. This must be filed, and any balance of tax paid, on or before the 23rd day of the ninth month following the end of the accounting period.