Has Your Company Been Deregistered this April at CIPC?

By BVK Group | 25 May 2023

Failure to submit your Annual Returns at CIPC could have led to severe consequences.

The Companies and Intellectual Property Commission (CIPC) recently deregistered a staggering 647,853 companies and closed corporations that had been in the Annual Return Deregistration process for over three years.

This process was completed in accordance with Companies Regulation 40, which dictates the legal requirements for such actions. This occurred on 31 March 2023.

As a result of this deregistration, it is now illegal for these companies to continue trading under the entity. It is imperative that business owners take note of this development and take the necessary steps to ensure that their companies are still in compliance with the law. Any failure to do so could lead to legal penalties and consequences.

It is important to note that these deregistered companies should also be deregistered by the South African Revenue Service (SARS). Failure to do so may result in administrative penalties for non-compliance.

If your company was one of those deregistered, please know that you can apply for reinstatement.

We urge you to take the necessary steps to do so as soon as possible.

At BVK our professional team can assist you with either the reinstatement process or with the deregistration at SARS.

Contact us today for assistance.