Don't Panic! Missed Your Singapore Company's Annual Filing? Here’s How to Fix It Easily

Recently, a friend of mine who runs a startup in Singapore shared with me his close call during the company’s annual review process. He thought everything was settled after registering the business-until he realized, near year-end, that he had completely forgotten to file the Annual Return. He narrowly avoided being flagged by the Accounting and Corporate Regulatory Authority ACRA as non-compliant, and potentially facing fines. Thanks to last-minute scrambling, he managed to submit everything just before the deadline-but the whole experience left him shaken, saying it felt “like dodging a bullet.”

And he’s not alone. Many small and medium-sized enterprises SMEs, especially startups, often overlook this requirement. Founders are busy growing their businesses, teams are lean, and important deadlines can slip through the cracks.

So, what exactly is a company annual review in Singapore? Contrary to what some might assume, it's not a traditional financial audit. Instead, it’s a mandatory yearly submission to ACRA that includes updated corporate information-such as director and shareholder details, confirmation of registered office address, and filing of financial statements. Under Singapore’s Companies Act, every registered company must complete this process within eight months after the end of its financial year. Missing the deadline doesn’t just mean penalties; in serious cases, companies may be struck off the register, and directors could end up on a compliance watchlist.

In recent years, as more Chinese companies expand overseas and set up regional headquarters or operational hubs in Singapore, such compliance missteps have become increasingly common. According to ACRA data, over 12,000 companies failed to meet their annual filing obligations in 2025-and a significant number were newly established foreign-owned firms. This shows that even though Singapore boasts a transparent and business-friendly environment, regulatory nuances still pose a hidden barrier for newcomers.

But what if you do miss the deadline? Don’t panic-Singapore’s regulatory system does allow some room for correction, as long as you act quickly.

First, log into ACRA’s BizFile+ portal to check your company’s status. If you’re only a few days or weeks late, the system will usually show that you can still file late, albeit with a penalty. At this point, gather the necessary documents-audited or unaudited financial statements depending on company size, shareholder resolutions, director declarations-and submit them online immediately. The sooner you act, the lower the cost filing within 30 days of the deadline typically incurs a S$300 fine; beyond that, it can jump to S$600 or more.

If your company has already been marked as “struck off” you’ll receive a Struck Off Notice, all hope isn’t lost. You can apply to restore the company’s registration, but you’ll need to provide a reasonable explanation and pay additional fees. For example, one company successfully appealed after missing the deadline due to a change in corporate secretarial firms that led to communication gaps. But timing matters-the longer you wait, the harder recovery becomes. Once officially removed from the register, reinstating the company can take months and involve complex procedures.

To avoid falling into this trap again, here are three practical steps entrepreneurs should consider

1. Set up proactive reminders. Add the annual return due date to your company calendar and set alerts-say, two months in advance-to start preparing documents. Some companies even build task workflows into their internal management systems to assign responsibility clearly and track progress.

2. Work with professional service providers. Many local accounting firms and corporate secretarial agencies offer full-service annual review packages. With transparent pricing and deep familiarity with local rules, they take the hassle off your hands. For foreign investors unfamiliar with Singapore’s regulations, this is often the most stress-free option. In fact, several firms now offer “Annual Review Protection Plans,” which not only handle filings but also send regular compliance alerts to help clients stay ahead of risks.

3. Conduct regular self-checks. The annual review isn’t just about ticking boxes-it’s an opportunity to clean up your company’s governance. Double-check whether director contact details are current, if shareholding structures have changed, or if your registered address is still valid. Small oversights here can delay submissions or trigger compliance flags.

On a positive note, ACRA has been pushing digital reforms to streamline processes and improve transparency. Starting in 2025, eligible small private companies with annual revenue under S$5 million and fewer than 50 employees are exempt from submitting audited financial statements. They only need to file a simplified financial summary-an update that reduces administrative burdens for startups and reflects regulators’ support for SME growth.

At its core, the annual review isn’t just bureaucratic red tape. It’s a vital part of maintaining legal compliance and building trust. Think of it like a car’s annual inspection-annoying at times, maybe, but ignoring it could lead to major problems down the road. In a country like Singapore, where rule of law and creditworthiness matter deeply, a clean compliance record affects real-world outcomes opening bank accounts, securing loans, earning partners’ confidence-all hinge on it.

Rather than treating the annual review as a chore, view it as a yearly “health check” for your business. Use the occasion to review finances, organize records, and refine operations. Even if you slipped up this year, timely action and lessons learned can get you back on track.

After all, no entrepreneur is perfect. Mistakes happen. What counts is how fast you respond and how smartly you move forward.

Now is the time when many companies are preparing for their 2025 fiscal year reviews. Take a moment to check your own filing status. A small step today might save you from a big headache tomorrow.