Annual Returns
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What are Annual Returns (CAC)
“Annual Returns” refer to the statutory filings that every business entity registered with CAC must make, typically on a yearly basis, to confirm and update key information about the entity (e.g., address, directors, shareholding, activities). These are distinct from tax returns, which deal with income and taxes.
The purpose is to keep the register of companies up-to-date and to ensure transparency, legal compliance and that the entity is still active.
Why Annual Returns Matter
- Legal Compliance: Filing annual returns is required under the Companies and Allied Matters Act 2020 (CAMA) and other associated regulations.
- Active Status: Ensures your business remains “active” on the CAC register. Failure could lead to being marked “inactive” or removal (“striking off”).
- Access to Services: Many business transactions (banking, contracts, government procurement) require up-to-date CAC status. Credibility & Trust: Updated filings signal a credible business, aiding investors, partners and clients.
Who Must File Annual Returns
Entities required to file annual returns include:
- Business Names (sole proprietorships or partnerships) registered with CAC.
- Companies (Private Limited, Public Limited, companies limited by shares, guarantee, etc.).
- Incorporated Trustees (NGOs, associations, religious bodies) and other non-profit entities.
When to File / Deadlines
- For newly incorporated companies, there is a grace period (often up to 18 months after incorporation) for the first annual return.
- After that, returns are normally due every year — e.g., for companies, within a specified timeframe after the Annual General Meeting (AGM) or financial year end.
- For Business Names or Incorporated Trustees, the deadlines may differ (for example by 30 June or within 60 days of year-end).
Benefits of Staying Compliant
- Maintains your legal status and avoids disruption of business operations.
- Ensures you can access corporate services like opening bank accounts, bid for contracts, obtain loans, etc.
- Enhances company reputation and trust with clients/investors/partners.
- Avoids unnecessary costs, penalties and administrative headaches.
- Keeps your company’s profile live and searchable on CAC’s register, which is a
Risks of Non-Compliance
- Entity may be struck off or marked “inactive” and lose the legal benefits of registration.
- Directors may be held liable for failure to file.
- Business cannot easily make changes (share capital updates, change of directors, etc) while in default.
- You may lose access to contracts, financing, government procurement and other opportunities requiring a compliant entity.
- Costs of reactivation/backdating may be higher than simply remaining compliant.
- Prerequisite for many business processes in Nigeria.
Our Service to You
At Raa N Oscar Business, we offer comprehensive support on CAC annual returns including:
- Monitoring your filing due dates and sending reminders.
- Preparing and compiling the requisite documentation (shareholder details, director changes, financial statements where required).
- Filing the annual return via the CAC portal or assisting with any manual filing if applicable.
- Advising on penalty exposure for late filing, and where necessary assisting with remediation.
- Ensuring your company remains in good standing so you can focus on your core business growth, not regulatory headaches.
Requirements to FIle for Annual Returns
- Means of ID
- Email address
- Phone number
- Date of birth (if not reflected on the ID)
- Address of business. (I will use the one on the certificate)
We will need the following to do a proper appraisal for your company
✅ Company Name
✅ Company year of incorporation
✅ Have you filed previous?
✅ If yes, last filing year?
Choose us because we go beyond just registration. We ensure your business is legally compliant, strategically structured, and ready for sustainable growth. With years of experience helping entrepreneurs and companies navigate complex regulatory processes, we simplify every step, provide personalized guidance, and deliver reliable support that sets your business up for long-term success.
Frequently Asked Questions
A: It still must file its annual return. Inactivity does not exempt you from the filing requirement.
A: Yes, but it will attract penalties and may lead to loss of active status or striking off. It is best to file on time.
A: You will likely have to pay back-filing fees/penalties, bring your filings up-to-date and possibly apply for restoration if the name has been struck off.
A: You can use the CAC portal to check whether your company is “Active” and has no outstanding filings.
A: Depending on the size of the company (e.g., whether it’s a small company, its share capital, etc.), audited financial statements or a statement of affairs may be required when filing.
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