Mandatory submission of annual reports to Bolagsverket for associations

Starting from financial years beginning on or after January 1, 2025, economic associations (co-operative societies) must publish their annual reports by submitting them to Bolagsverket.

The purpose of requiring economic associations to publish their annual reports is to improve conditions for preventing financial crime where associations are used as tools of crime.

Associations required to publish their annual reports

• Economic associations (co-operative societies)
• Tenant-owner associations (including housing associations)
• Cooperative tenancy associations
• Collective farming associations
• European cooperative societies (SCEs)

Submission of annual reports to Bolagsverket

The annual report must be submitted to Bolagsverket within one month after the association’s general meeting has approved the balance sheet and income statement. However, to avoid a late submission fee, the report must be submitted no later than seven months after the end of the financial year.

What needs to be submitted?

The annual report and the auditor’s report must be submitted as certified copies.
A financial statements approval must be included on the copy of the annual report, signed by a board member or the managing director, confirming that the balance sheet and profit and loss statement have been approved. The certification must also include the date of approval and the general meeting’s decision regarding the association’s profit or loss.

Consequences of late submission

If the association fails to submit the annual report within seven months after the end of the financial year, it must pay a penalty for late filing. The association may be required to pay up to three late fililng penalty fees. The first two late filing fees are SEK 7 500 each, and the final late filing fee is SEK 15 000.

If a complete annual report has not been submitted to Bolagsverket within eleven months after the end of the financial year, the association risks receiving an official notice of liquidation. If the official notice is not complied with, Bolagsverket may decide that the association should be liquidated and appoint a liquidator to conclude the association’s activities.

The association’s board is responsible for ensuring that the annual report is prepared on time. Failure to produce an annual report may constitute an accounting violation.