The Office of the Registrar of Companies (ORC) has announced that it will see to it that its June 30th deadline given to business owners, company directors, secretaries, and partners of incorporated partnerships in Ghana to file their annual returns or renew their business names and partnerships will not be extended.

The filing of annual returns, renewal of business names and partnerships is to ensure transparency and facilitate regulatory compliance.

The ORC's call is pursuant to section 126(1) of the Companies Act, 2019 (Act 992) section 8(1) of Incorporated Partnership Act, 1962 (Act 152) and Section 5A(2) of the Business Name Act, 1962 (Act 152) for every registered company or business to deliver to the registrar for registration its annual returns or renewal of business name.

Companies that fail to file annual returns with financial statements shall be deemed non-compliant and will be liable to pay a penalty of GHc1,000 in addition to filing fees.

Furthermore, business names that are not renewed shall lapse, and the registrar may remove from the register the business name of a person whose registration has lapsed.

In view of this, business names must be renewed annually to remain in good standing by using the USSD code *222# and following the prompt to make payment of GHc 70 inGhana.

Gov payment platform or walk into our offices across the country and make payment at our on-site bank.

Additionally, the following categories of companies are required to file their annual returns: Private/Public Companies Limited by Shares. Private/Public Companies Limited by Guarantee. External Companies. Unlimited Liability Companies.

The annual returns must be filed within 18 months after incorporation and subsequently once every year.

It must contain information such as the names and details of current company directors, shareholders, and financial statements.

Annual returns detail the status quo of a company by giving an indication of the financial and non-financial state of the company.

Incorporated companies that fail to comply with this statutory requirement will face the following consequences: Late Filing Penalties—Companies will be subject to penalties of 25 penalty units for each day in default. Company Deregistration—Persistent non-compliance may result in the company being struck off the Companies Register, making it unlawful to operate.

Legal and Financial Consequences—Non-compliant companies may face legal action or difficulties in conducting business, including challenges in securing credit or entering into contracts.

The ORC has therefore entreated companies and business owners to comply with these statutory obligations to ensure continuity and avoid the risk of being delisted from the official register.