What are the consequences of not filing year end with CRO?

J

johns75

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Hi,

Does anyone know what the consequences of not filing year end with CRO if the company you formed never traded, has no intention of ever trading and has not registered for VAT? I have just been told it cost nearly €700 to be struck off properly but what if i just left it be? Thanks.
 
The consequences are that you will be fined. It doesn't matter whether you are trading or not. You should still file the annual return. Details of the fines are plainly listed on the CRO website.
 
johns75 said:
Hi,

Does anyone know what the consequences of not filing year end with CRO if the company you formed never traded, has no intention of ever trading and has not registered for VAT? I have just been told it cost nearly €700 to be struck off properly but what if i just left it be? Thanks.
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It shouldn't cost as much as that if you file on time. File a nil-balance balance sheet and claim audit exemption. Then get a letter of no objection from revenue stating that your company's affairs are in order. Put an ad in a local paper stating your intention to wind the company up. Finally send the original letter from revenue and the original ad to the CRO, and the company will then be struck off.

Just leaving it and allowing the company to be struck off for not filing returns, runs the risk of prosecution by the ODCE, although I think they try to target frequent offenders.
 
And filling the form for voluntary strike off.

About the fines. I cant remember the initial fine which say is x plus €3 per day to a maximum €1200.

And then €40 for the B1 Return.
 
I dont think you can publish in any local paper. It has to be a national paper. also, there is a time limit between getting letter from revenue, placing ad in paper and applying to companies office for strike off. phone the companies office for more info.
 
If you fail to file an annual return with the CRO you'll regret it.

Apart from the late fee you will have to get your accounts audited before the next annual return.

The cheapest auditor I could find was €800, I was late , had to pay the fines and then discovered (when trying to hand in the following years annual return) that it had to be audited, so I was late again, which means I have to have it audited again.

You can't have the company wound up until after the audited accounts have been handed in. And my situation is similar to your, never having traded.


The whole thing will have cost me €2000+ by the time I've managed to kill it.
 
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