Enhanced BizFile+ System
As announced on 5 November 2015, ACRA’s online business filing and information portal (“BizFile“) is being revamped and will undergo system migration to transition to BizFile+, which will launch on 3 January 2016.
All BizFile Filing and Registration Online Services will not be available from
26 December 2015 to 2 January 2016.
You may wish to note that:
- all filing and registration online services will not be available from 26 Dec 2015 to 2 Jan 2016;
- a few select BizFile transactions including purchase of business information from the ACRA iShop, will not be available from 22 Dec 2015 to 2 Jan 2016. More details can be found on the ACRA’s website.
Companies are advised to complete all BizFile related online transactions before 25 Dec 2015, 11:30 pm. This includes any necessary endorsements from business partners and making payments, if required. Any incomplete transaction may require re-application when BizFile+ launches on 3 Jan 2016. During the transition period, urgent and critical time sensitive transactions can still be filed directly with appropriate proof of identity, at ACRA’s office located at International Plaza.
Extension of Filing Time and No Imposition of Filing Penalties for Companies
As BizFile will be unavailable from 26 Dec 2015 to 2 Jan 2016, ACRA will extend the time to file certain transactions in the manner described below and not impose any late filing penalties that would otherwise be payable:
| Filings through BizFile | No filing penalties |
|---|---|
| Filing of Annual Returns Companies whose Annual Returns (AR) filing due date falls between 26 Dec 2015 and 2 Jan 2016. |
No late filing penalty and I or composition will be imposed if filed by 2 Feb 2016. |
| Other Types of Filings with Statutory Filing Deadlines Filings with statutory filing deadlines such as Change of Particulars/Appointments/Cessation, Lodgement of Court Order and Return of Allotment of Shares, with due dates that fall between 26 Dec 2015 and 2 Jan 2016 |
New Filing Requirements for Companies (Effective 3 Jan 2016)
As announced on 5 Nov 2015, legislative changes in the Companies (Amendment) Act 2014 and the new Business Names Registration Act (BNRA) (which replaces the current Business Registration Act) will take effect on 3 Jan 2016. BizFile+ will incorporate new filing requirements linked to these legislative changes. These include:
- Updating shareholder information to facilitate ACRA’s maintenance of Electronic Registers of Members (EROM) of private companies from 3 Jan 2016. Private companies will have up to their next annual returns filing due date or up to six months from 3 Jan 2016, whichever is earlier, to update the EROM. No fee will be charged for updating the EROM.
- Lodging the appointment of Chief Executive Officer (CEO) (if any) in ACRA’s register. Late filing penalty will not be imposed for companies whose CEOs were appointed prior to 3 Jan 2016 but whose information is updated between 3 Jan to 30 June 2016.
More details on the new filing requirements, and key legislative reforms in the Companies Act and the new Business Names Registration Act can be found on the ACRA website.
Read More » ACRA to Implement Business Names Registration
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