We are getting a lot of questions about what happens if companies are hit by the COVID-19 virus and are therefore unable to file their annual report in time. Will the Swedish Companies Registration Office hold off on making decisions about late filing penalties?
The rules about late filing penalties are mandatory in the sense that the Companies Registration Office is obliged to make decisions on late filing penalties when an annual report has not been filed in time. However, we want to remind companies that they are able to request remission of the late filing penalty or appeal the decision. If the reason for late filing is linked to COVID-19 virus, this can obviously be a reason for remission. But that is an assessment that the Companies Registration Office must make in each individual case.
The annual report and, where relevant, the auditor’s report, must by law be filed with the Companies Registration Office within seven months from the end of the financial year. That provision has not been changed on account of the COVID-19 virus.
One result of late filing of an annual report is a late filing penalty. The legislation concerning late filing penalties has not been changed either on account of the COVID-19 virus.