Dormant Company Accounts in Ireland: What You Need to Know

dormant company filing tax accounts ireland

Dormant Company Accounts in Ireland: What You Need to Know

Dormant Company Accounts in Ireland: What You Need to Know 1280 855 Joe Walsh

Introduction

Welcome to our guide on Dormant Company Accounts in Ireland. Even if your company is dormant—meaning it has had no transactions during the accounting period—you are still required by Irish law to file annual returns with the Companies Registration Office (CRO). This page aims to provide you with valuable information on how to comply with these requirements.

What is a Dormant Company?

A dormant company is one that has not engaged in any business activity or had any other income during the financial year. In essence, the company exists only on paper and has no operational business during the specified period.

Filing Requirements

Accounts to Submit

Despite having no transactions, dormant companies are still required to file:

  • Balance Sheet
  • Director’s Report
  • Auditor’s Report (unless exempt)
  • Annual Return
  • Irish companies must submit an annual return (Form B1) to the CRO every 12 months, even if the company is dormant.

Filing Deadlines

It’s crucial to adhere to the filing deadlines to avoid penalties and potential prosecution.

How to File Dormant Accounts

Online Filing

The CRO encourages online filing via their CORE (Companies Online Registration Environment) system, which is faster and generally more convenient.

Engaging an Accountant

Given the complexities, it may be wise to engage an accountant experienced in filing dormant company accounts in Ireland. We can file dormant accounts from €249 + VAT

Consequences of Not Filing

Failure to file annual returns may result in:

  • Penalties and fines
  • Strike-off procedures
  • Legal ramifications for company directors

Tips for Filing Dormant Company Accounts

  • Plan Ahead: Ensure you are aware of the deadline for filing to avoid late fees.
  • Keep Records: Even though your company is dormant, maintain records that confirm the dormant status.
  • Review Exemptions: Certain companies may be exempt from audit requirements; check if this applies to your situation.
  • Consult Professionals: Due to the legal obligations, consulting an accountant is advisable.

Conclusion

Filing dormant company accounts in Ireland is a legal requirement that should not be overlooked. Neglecting this obligation could lead to severe consequences. If you are unsure about how to proceed, seek professional advice.

Contact Us

For tailored advice and services relating to dormant company accounts, feel free to contact us.

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