MD of Irish Company Formation Specialists issues a reminder to all companies that may not have their Irish company filings up to date

DUBLIN, IRELAND, August 24, 2022 /EINPresswire.com/ -- Séan Kavanagh, Managing Director of Company Formations International Ltd, a leading Irish company incorporation specialist, has drawn attention to the fact that now, more than ever, is the time for Irish registered companies to check and make sure that their annual filings are up to date and their company fully complies with their Irish legal requirements.

With the Registrar of Beneficial Owners lately securing fines of €3,000 against defaulting companies in the District Court, and the Corporate Enforcement Authority recently arresting a woman for serious company law and other offences, it seems like enforcement is now the order of the day in Ireland, according to Kavanagh.

All the more so, when you consider that at a recent meeting, The Companies Registration Office (CRO) in Ireland announced that, following the suspension of some activities due to COVID, they too will resume enforcement activity after the summer break.

By way of reminder, Séan Kavanagh points out that the enforcement options available to the CRO for a company that is found to be in a position of non-filing of their annual returns can include Involuntary Strike Off from the companies register.

Furthermore, it can result in the prosecution of the defaulting company and/or its directors, where fines of up to €5,000 per offence can apply.

In addition, it can result in S797 application to the High Court with a strong possibility of costs order against defaulting officer.

What it all adds up to is that now is a very important time for company directors and controllers to review the companies under their care and, as soon as possible, ensure that they are in good standing.

If in doubt, seek professional advice quickly, Séan Kavanagh advises, pointing out that his own company, Company Formations International Ltd, is on hand to help Irish registered companies to become fully compliant with their statutory requirements without delay.

We can arrange for Annual Returns and Financial Statements to be prepared (both audited and un-audited) where the company needs to be brought up to date either to continue in existence or in anticipation of undertaking a Voluntary Strike Off.

We can also arrange for a S343 application to the District Court to extend the Annual Return Date which removes late filing fees and, more importantly, restores Audit Exemption.

We can also arrange for vital legal representation at the District Court in the event of a company or company Director prosecution.

Further information about any of these important services is available on the CFI company web site www.formations.ie or by contacting CFI by telephone on +353.1.664.1100.

Sean Kavanagh
Company Formations International Ltd
+353 1 664 1100
email us here

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