Description
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Late filing fees are penalties imposed by the Companies Commission of Malaysia (SSM) when companies fail to submit statutory documents such as Annual Returns or Financial Statements within the prescribed timeline. These fees encourage timely compliance with the Companies Act 2016 and ensure up-to-date company records with the registrar.
GOV Department
- Suruhanjaya Syarikat Malaysia (SSM)
Details
- Late filing fees apply to:
- Annual Returns
- Financial Statements and Reports
Late fees are calculated based on the number of days/months delayed after the due date. The longer the delay, the higher the fine. These fees apply to both Sdn. Bhd. and Berhadcompanies.
Important Rules
- Annual Return must be filed within 30 days from the anniversary of incorporation.
- Financial statements must be lodged within 30 days from the date of AGM (or 30 days from circulation for Sdn Bhd).
- Filing must be done via SSM MyCoID system or through certified company secretary.
- Continuous non-compliance may affect company status or lead to enforcement action.
Compound & Punishment
- Compound fines can be issued by SSM for non-compliance.
- Directors and company officers may be held personally liable.
- Under Companies Act 2016, failure to file may result in:
- Fines up to RM50,000
- Daily fines for continuing offences
- Company deregistration or blacklisting
- Restrictions on directors from forming new companies
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.