Company directors must comply with statutory obligations under the Companies Act (CA) or face enforcement action. Key statutory requirements include annual obligations such as holding annual general meetings and filing annual returns.
Annual General Meeting
Unless exempted, companies are required to hold an annual general meeting (AGM). AGMs ensure that stakeholders are kept updated about a company's financial position and direction. They also provide a platform for stakeholders and company officers to communicate with each other at least once a year.
Read our guide on holding Annual General Meetings (AGMs).
Annual Return
Private companies must file their annual returns within 7 months after the end of their financial year.
Filing a company's annual return on time ensures proper and timely disclosure to all stakeholders. All companies, including inactive and dormant companies, are required to file annual returns. As long as a company's status is "live", it must file its annual return with ACRA even if IRAS has exempted the company from filing its income tax return.
Read our guide on filing Annual Returns.
Learn more about our enforcement actions against company directors who fail to hold AGMs or file annual returns.
