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Annual Returns Filing Fees for Entities in Nigeria

Once an entity is registered with the Corporate Affairs Commission after 18 months such an entity is expected to start paying her Annual Returns.

We have received calls and mails over the fees for each entity known in the Nigerian Company Law, hence this write-up

For a Business Name (Enterprise), the Annual Returns fee is Three Thousand Naira (#3,000) per annum and if the Enterprise is in default, she is expected to pay Five-Thousand-naira (#5,000) penalty for each year in default. You must be a CAC accredited agent for you to get the process completed.

Read also: HOW TO REGISTER A BUSINESS NAME

A Limited Liability Company is a company that have Share Capital. A limited liability company’s Annual Return is #5,000 per annum and #5,000 as penalty fee for any year she is in default. A Limited Liability Company that has up to 10million Share Capital is regarded as a big company and its Annual Returns is a bit higher than the small company. The Annual Returns for such is #10,000 per annum and its penalty is #10,000 per annum.

Read also: Annual Returns Filing with CAC in Nigeria

In the case of an Incorporated Trustees (IT) which includes Clubs, Associations, Churches, NGOs etc, their Annual Returns is #5,000 and penalty for each year is #10,000

Note that the above stated fees are the official fees paid to CAC and it is not inclusive of the professional fees payable to the agent handling the processing of the Annual Returns. Note also that Churches pay Annual Returns. There is this mistaken belief that Churches are exempted from paying Annual Returns which is not true.

Read also: HOW TO REGISTER A LIMITED LIABILITY COMPANY in Nigeria

In all, when filing your Annual Returns with CAC you need to update the company’s details on the portal. If the address, phone numbers, email address etc of the company has changed it’s a good opportunity to update same.

In conclusion, having this information and not utilizing it is as good as not reading it at all. If you are an entrepreneur and you have not been paying your company’s Annual Returns please start now! Because a stitch in time saves nine. In addition, please engage the services of an accredited CAC agent to avoid stories that touches.

For further enquiries call +234 905 444 0156