Bi-Annaul Returns Filing for Non-Profits/Foundations in Nigeria

The trustees of non-profit organisations/Foundations are required to submit to the Corporate Affairs Commission, a bi-annual statement of affairs twice every year. The requirement to file bi-annual statement of affairs is in line with the provisions of section 845(1) of CAMA 2020 and Regulation 32 of the companies regulation 2021.

The trustees are required to file the bi-annual statement made up to 30th June and 31st December each year, to be filed not later than 15^th July and 15^th January respectively.

Where there is a default in compliance, there is a daily penalty for every day for which the default continues, which is the sum of N500 daily for each trustee and secretary, as stated in Section 845(2) of Companies and Allied Matters Act 2020.

To file bi-annual returns, the following information will be required:

• The details of the association such as the Name, the registration number etc.
• Subscriptions of the association.
• Donations to the association.
• Liabilities of the association such as Judgment, contracts, estimated liabilities etc.
• Assets of the association such as cash at hand, cash in the bank, etc.

Bi-annual returns filing is a measure put in place by the corporate affairs commission to ensure that these non-profit organisations comply with the objectives of the association, and ensure proper record keeping of the funds for the association, and are not utilized for any fraudulent or illegal purpose.

618 Bees can quickly and easily help you file your Bi-annual Returns with the Corporate Affairs Commission (CAC). Log on to our website www.618bees.com or email hello@618bees.com, or give us a call on +2349017190079/08080819653. 618 Bees will complete your application with the CAC.

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