top of page

What to Prepare for Your Company’s Financial Year End (FYE)

Updated: Sep 16, 2022

Table of Contents

We did our best to maintain our resources up to date, with the latest, accurate, and relevant information. If you find any information as misleading, or erroneous, please email to – thank you for your notification!

When the company’s Financial Year End (FYE) is approaching, the preparation and filing obligations required for annual compliance matters could be a challenge for business owners, especially for those who have just newly-incorporated their companies.

Having a better understanding on these obligations and relevant deadlines would save business owners from paying fines and penalties resulting from the compliance matters.

In this guide, you will also find out what are the documents to be ready on hands for preparation and filings as well as its timelines. Take note that this guide is written for Singapore Private Limited Companies.

Timeline of Annual Compliance

In general, the timeline of annual compliance / filing for your company would depends on the company’s Financial Year End (FYE). All companies registered in Singapore are required to comply with Accounting Corporate Regulatory Authority (ACRA) and Inland Revenue Authority of Singapore (IRAS).

The table below listed down the requirements of annual compliance for a Singapore-registered company after the Financial Year End (FYE).


Annual Compliance Requirements

Government Agency

Within 3 Months from FYE

Estimated Chargeable Income (ECI) must be filed


Within 5 Months from FYE

Financial Statements must be prepared


Within 6 Months from FYE

Annual General Meeting (AGM) must be held


Within 7 Months from FYE

Annual Returns (AR) must be filed


By 30th November for Each Year of Assessment

Corporate Income Tax (Form C/C-S) must be filed


What to do after your Company’s Financial Year End (FYE)?

The Management Reports and Financial Statements must first be prepared after the Financial Year End (FYE) in prior of fulfilling the requirements of annual compliance as stated above.

What are the Management Reports?

Management Reports are required for Accountant in preparation of Financial Statements, examples of Management Reports are Statement of Financial Position (formerly known as Balance Sheet), Statement of Comprehensive Income (formerly known as Profit and Loss Statement) etc.

Most of the time, Management Reports are prepared by Bookkeeper. Someone who has an accounting background and able to perform data entry in accordance with Singapore accounting standards. To perform data entry effectively, it is encouraged to use accounting software.

Important: The directors of the company hold the responsibility to ensure that the accounts give a true and fair view of the financial performance and position of the company.

What is a Financial Statement?

A Financial Statement minimally consists of Director’s Statement, Statement of Comprehensive Income, Statement of Financial Position, Statement of Cash Flows, Statement of Changes in Equity and Notes to the Financial Statements.

How to prepare the Financial Statements?

To ensure the Financial Statements are prepared in accordance with the Singapore Financial Reporting Standards (SFRS). It is encouraged to engage a qualified accountant to assist with the preparation of the Financial Statements.

Before the Financial Statements are compiled, the following must first be completed:

  • All documents are arranged and kept properly. For example, invoices, bills, receipts, bank statements, CPF statements, payment vouchers, cheque stubs and others.

  • All transactions are bookkept into accounting software. Journal entry like depreciation charges, accruals, prepayments, and others are taken up.

  • All accounting schedules are prepared. For example, Property, Plant & Equipment (PP&E), inventory listing, lease schedule and others.

  • Management Reports are generated.

  • Respective tax payables are computed.

What is Estimated Chargeable Income (ECI) filing?

Estimated Chargeable Income (ECI) filing will first be due after your company’s Financial Year End (FYE), it is the estimated computation of your company’s taxable income, and essentially equivalent to paying your Corporate Income Tax in advance.

Estimated Chargeable Income (ECI) must be filed to IRAS within 3 months from the date of Financial Year End (FYE), unless exempted. For instance, a company with Financial Year End (FYE) falls on 31st December 2021, the Estimated Chargeable Income (ECI) for Year of Assessment (YA) 2022 must be submitted by 31st March 2022.

From Year of Assessment (YA) 2020 onwards, IRAS had made the ECI e-filing compulsory for all Singapore companies.

Holding of Annual General Meeting (AGM)

During the Annual General Meeting (AGM), Financial Statements will be presented to members and shareholders of the company, and queries will be addressed in the meeting. It is part of the annual compliance requirements that all Singapore companies to hold an Annual General Meeting (AGM) once every calendar year, unless exempted, or dispensed.

Table below illustrates the AGM timeline:

For Non-Listed Companies with FYE before 31 August 2018:

For Non-Listed Companies with FYE after 31 August 2018:

First AGM: within 18 months of incorporation.

Subsequent AGM: Every calendar year at a maximum interval of not more than 15 months.

Note: Financial Statements that are presented at the AGM must be made up to a date within 6 months before the AGM date.

Hold AGM within 6 months from FYE.

Information and documents to be prepared:

  • AGM notice being notified to all members

  • Company’s Resolutions

  • Financial Statements in accordance with the Financial Reporting Standards of Singapore.

  • Auditor’s Reports (if applicable)

What is Annual Return filing?

Annual Return is a mandatory form to be submitted annually to Accounting Corporate Regulatory Authority (ACRA) at their website. The submission contains important information about the company like company and members’ details, shares details and Financial Statements.

After your company’s Financial Year End (FYE), Annual Returns must be filed to ACRA within 7 months and a fee of $60 is payable to ACRA per submission. Do check with your accountant if the professional fees are inclusive of $60, some firms like us have factored in the $60 in our quoted fees so there will be no surprising fees during Annual Returns filing.

The timeline of Annual Returns filing has listed in the table below:

For Non-Listed Companies with FYE before 31 August 2018:

For Non-Listed Companies with FYE after 31 August 2018:

Annual Returns must be filed within 30 days after AGM.

For companies having a share capital and keeping a branch register outside Singapore, Annual Returns must be filed within 60 days after AGM.

In addition, note that the Annual Returns can be filed only:

-> After an AGM has been held.

-> For a private company which has dispensed with its AGM, after financial statements are sent or all resolutions which were supposed to have been passed at an AGM are passed by written means.

Annual Returns must be filed within 7 months after Financial Year End (FYE).

For companies having a share capital and keeping a branch register outside Singapore, Annual Returns must be filed within 8 months after FYE.

In addition, note that the Annual Returns can be filed only:

-> After an AGM has been held.

-> After financial statements are sent (if company need not hold an AGM).

-> After the FYE, for a private dormant relevant company that is exempted from preparing financial statements or that has dispensed with the AGM.

Information to be ready:

  • Company Name, Registration Number and Type

  • Registered Address

  • Principal Business Activities

  • Summary of Capital Structure (Paid-up & Issued share capital)

  • The particulars of Directors, Company Secretary, Auditors, and Shareholders

  • Details of Financial Period

  • Date of Annual General Meeting

  • Financial Statements in Full or Partial XBRL Format

The process of Annual Returns filing could be different given the several factors. For instance, the type of company, whether the company is solvent or insolvent, dormant or active company, whether the accounts are audited. Generally, a company secretary will be assisting with both AGM and Annual Returns filings. In fact, our Company Secretary services have offer the most competitive fees in Singapore at $260/year which inclusive of the $60 ACRA filing fees.

Why not getting an additional Quote in 1 Minute for fees comparison? Feel free to use our website’s innovative tool *Instant Quotation* to get your customized quotation instantly.

What is Corporate Income Tax (Form C/C-S) filing?

Lastly, Corporate Income Tax is to be filed to IRAS. This will be your company’s actual declaration of taxable income, whereas Estimated Chargeable Income (ECI) filing is an estimation. You will be notified by IRAS on any tax refund or notice of tax payable in the event where there are discrepancies between your ECI computation and actual tax payable.

All Singapore companies are required to file their Corporate Income Tax by submitting their Form C/C-S to IRAS by 30th November of each Year of Assessment (YA).

The company owner, or a qualified tax agent will be able to perform the corporate tax filings. However, it is advisable to engage professional who covers all scope of services (Accounting, Tax and Corporate Secretarial Services) to be assured for the good quality and efficient work done.


The above are generally covered the necessary preparations for company’s Financial Year end (FYE). Feel free to contact us if you have any queries and we are happy to help.

We know that running a company is not easy. Your focus should be on growing your business.

Find out how you can lessen your burden on the compliance matters today. Go to our *Instant Quotation* and discover the service coverage and its fees.


bottom of page