Application for extension of time for AGM/Annual Return
In the event that a company is unable to hold an AGM within the stipulated timeframe, it is possible for the company to apply for an extension of time (EOT) with ACRA before the due date under S175(2) of CA.
You can apply for an EOT of up to 60 days, if you need to delay:
- Holding the Annual General Meeting (“AGM”) under S175 of CA OR
- Filing of Annual Return (“AR”) under S197 of CA
The extension can be applied for by the company officer, such as the director, the secretary or a professional firm on behalf of the company via BizFile+ (Local Company > Annual Filing > Extension of Time for AGM/Annual Return).
Public-listed companies will additionally have to list the reasons for seeking the EOT, including any supporting documents and also comments from SGX on the application for the EOT.
The application fee costs $200 and are not refundable. You must make your EOT application before your AGM/Annual return deadline.
ACRA may take up to 14 days to process most EOT applications. If further clarifications are required, the approval may take longer of up to 30 days. As a result, it is advisable to submit your application and make your payment at least 14 days prior to the AGM/Annual return deadline.
Change of Financial Year End
Some companies apply for EOT due to a change in the FYE date. If so, the company is required to file a “Change of Financial Year” transaction via BizFile+ before lodging the EOT application. It is therefore prudent to follow the steps for first changing the FYE date, and then applying for an EOT, in the proper order to avoid unnecessary costs.