Mandatory electronic filing (E-filing) will be introduced at the Companies Registration Office (CRO) from 1 June 2017.
Billed as "cheaper, smarter, simpler", E-filing is being introduced to provide a more efficient and effective service for companies, which will result in savings, and make deadlines easier to meet. Last year almost 90% of annual returns were filed on time, which is a positive result for E-filing.
From the 1 June 2017 mandatory E-filing will apply to each of the following documents:
In addition, from 1 June 2017, the associated financial statements must be uploaded as PDF attachments through CORE or other software packages such as Blueprint. Paper copies will not be accepted by the CRO from the 1 June 2017.
Late filing fees and late penalties must be paid electronically by credit card or debit card. It will not be possible to pay any late filing fees by cheque, postal order, money order or bank draft. However it will still be possible to top up a customer account by cheque after 1 June 2017.
The introduction of E-filing does provide a number of advantages.
The introduction of mandatory E-filing should streamline compliance processes for companies and their interactions with the CRO.