Will the penalty (10% of revenue) apply to all companies with late financial statements?

It is applicable and a possibility for all companies who are non-compliant.

Before the penalty is imposed, the company will 1st receive a compliance notice, and be given the standard time frame of 40 days to correct the non-compliance.

Only if the entity ignores or does not comply with the compliance notice, will the CIPC obtain orders from the high court to impose the administrative penalties on the still non-compliant company.

Remember that contraventions are not limited to Section 30 of the Companies Act 71 of 2008.


Please note that the information provided does not constitute legal or professional advice, but rather the applicability of existing theory to a given practical situation. Due care is taken to ensure that the information is correct, but it remains subjective and an interpretation of application of information.

Previous: Are any companies or CCs exempt from submitting FAS or AFS with their annual returns?
Next: How do we convert the financials into XBRL format?
Scroll to Top


The only thing that interferes with my learning is my education. - Albert Einstein

Log In to Your SAIBA Account!

Please Login
Username can not be left blank.
Please enter valid data.
Password can not be left blank.
Please enter valid data.
Please enter at least 1 characters.