What happens if I do not submit the annual accounts within the legally established period?

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Regarding the presentation of the annual accounts of companies, there are certain frequently asked questions whose answers are necessary to know. The annual accounts of companies are mandatory for public limited companies (SA), limited liability companies (SL), limited partnerships with shares and mutual guarantees, pension funds and, in general, for any other business person who, in accordance with current legislation, is obliged to publish their annual accounts, for which these must be submitted for deposit in the Commercial Registry of their domicile, within the month following their approval.

Start of marked textLate submission of annual accounts before the end of the year is not penalized.End of marked text

The annual accounts will comprise the balance sheet, the profit and loss account, a statement reflecting the changes in net assets for the year, a cash flow statement and the notes.

What does the Capital Companies Act state regarding the presentation of annual accounts?
According to article 253 of the Capital Companies Act , the directors of the company are obliged to draw up, within a maximum period of three months from the end of the financial russian phone number whatsapp year , the annual



accounts, the management report and the proposal for the application of the result, as well as, where appropriate, the consolidated accounts and management report, and all directors must sign both the annual accounts and the management report. If the signature of any of them is missing from any of these documents, this must be expressly indicated, indicating the reason in each of the documents in which it is missing, with an express indication of the cause.



According to article 272 of the Capital Companies Act, the annual accounts shall be approved by the general meeting , with article 164 specifying that the ordinary general meeting, previously convened for this purpose, shall necessarily meet within the first six months of each financial year , in order to, where appropriate, approve the company's management, the accounts of the previous financial year and decide on the application of the result. Furthermore, it is important to note that the ordinary general meeting shall be valid even if it has been convened or is held outside the deadline.

From the time the general meeting is called, any shareholder may immediately and free of charge obtain from the company the documents that must be submitted for approval, as well as the management report and the auditor's report.

If the annual accounts are approved at the first meeting, they will be filed in the Commercial Registry, but if the annual accounts are not approved, the directors must prepare other annual accounts with the appropriate adjustments, for approval or request the dissolution of the company.