Description
- Financial Statements Lodgement refers to the submission of a company’s annual financial reports to the relevant government authority. This ensures compliance with legal requirements and provides transparency about the financial health and performance of the company.
GOV Department
- Suruhanjaya Syarikat Malaysia (SSM) / Companies Commission of Malaysia
License Name (Malay)
- Pemfailan Penyata Kewangan
Details
- All registered companies are required to prepare and lodge their financial statements with SSM.
- Financial statements must include a balance sheet, income statement, cash flow statement, and statement of changes in equity.
- The lodgement applies to private limited companies (Sdn Bhd) and public companies (Berhad).
- Documents must be prepared in accordance with the Malaysian Financial Reporting Standards (MFRS) or other applicable accounting standards.
Important Rules
- Financial statements must be audited by a licensed auditor before submission.
- Companies must lodge their financial statements within 7 months from the end of their financial year.
- All submitted statements must accurately reflect the company’s financial position and comply with the Companies Act 2016.
- Late submission or falsified information is a breach of compliance.
Compound & Punishment
- Late Submission: Fines ranging from RM100 to RM5,000, depending on the delay.
- Falsification of Financial Statements:
- Severe penalties under the Companies Act 2016, including fines up to RM500,000 or imprisonment up to 10 years, or both.
- Non-compliance may result in suspension of company activities or legal action against directors.
Advisor
Jeffrey Eh Hao Yih , Director
Jeffrey has been providing expert guidance for businesses dealing with ongoing challenges. With his expertise, he aids clients in strategic business planning, streamlining operations, and enhancing productivity. Additionally, Jeffrey offers diverse business technology services to help digitize traditional businesses effectively.
Commonly Asked Question
You can lodge financial statements through the MyCOID online system. Many companies use Conzlab to handle the submission for smooth and error-free lodgement.
The deadline is within 30 days after circulation to shareholders and not later than 7 months from financial year end. Conzlab tracks your deadlines to keep you compliant.
The cost depends on company size and audit needs. Conzlab offers transparent pricing for financial statements lodgement services.