AGM and annual return: what a private company files every yearकम्पनी अद्यावधिक: साधारण सभा र वार्षिक विवरण

Nepal's fiscal year runs from Shrawan 1 to Ashad end. Within six months of the year end, by Poush end, a private company holds its annual general meeting and files the annual return with OCR.

The order of the papers

1. Board minute appointing the auditor for the year being audited, and the letter to OCR (Section 111)
2. The audit is completed
3. Board minute approving the accounts and calling the AGM
4. Notice to shareholders, with the agreed notice period
5. The AGM minute, or the sole shareholder's written decision
6. Section 51 and Section 92 forms and the application to OCR
7. Letter to OCR about the auditor appointed at the AGM
8. Beneficial owner declaration

What late filing costs

OCR fines a late return on the Section 81 scale. For a company with paid-up capital up to Rs 25 lakh it is Rs 1,000 up to 3 months late, Rs 1,500 up to 6 months and Rs 2,500 up to a year, then Rs 5,000 for each further year. Larger companies pay more. CAMIS may charge the Section 51 and Section 80 returns separately.

One shareholder

A one-person company can record the decisions as the shareholder's written decision instead of holding a meeting. The filing is otherwise the same.

Missed a year?

Run the fine check to see an estimate, then file the missing years in order. Leaving them only adds a year's fine each year.

General information, not legal advice. Rules change; we check the current position for your case before filing. Legal documents are drafted under the supervision of our retained, licensed advocate.