UPDATES THAT BIZFILE USERS NEED TO TAKE NOTE OF IN (ACRA)

UPDATES THAT BIZFILE USERS NEED TO TAKE NOTE OF IN (ACRA)BizFile e-services will be unavailable due to system migration to BizFile+ (26 Dec 2015 to 2 Jan 2016)

ACRA’s Online filing portal, commonly known as BizFile, will be re-launched as BizFile+ on 3 Jan 2016. All services on the BizFile and BizFinx portals will not be available from 26 December 2015 to 2 January 2016.

By now, most companies should have received an informed letter regarding the BizFile system maintenance.  

ACRA has encouraged users to complete all BizFile related transactions before 25 Dec 2015, 2330 hrs. This includes seeking the necessary endorsements from business partners and making payments,  if required. Any incomplete transactions may require re-application when the revamped BizFile launches on 3 Jan 2016.

However, there will be an extension of Time for filing transactions with ACRA, such as Filing of Annual Return.

As BizFile is unavailable from 26 Dec 2015 to 2 Jan 2016, ACRA will extend the time to file certain transactions and not impose any late filing penalties that would otherwise be payable:

 – Companies whose Annual Returns (AR) filing due date falls between 26 Dec 2015 and 2 Jan 2016.

No late filing penalty and / or composition will be imposed if filed by 2 Feb 2016.

 – Filing of Annual Declarations

LLPs whose Annual Declaration filing is required to be filed between 26 Dec 2015 and 2 Jan 2016.

Other types of Filings with Statutory Filing Deadlines

Filings with statutory filing deadlines such as Change of Particulars/ Appointments/ Cessation, Lodgement of Court Order and Return of Allotment of Shares, with due dates that fall between 26 Dec 2015 and 2 Jan 2016.

 

New Filing Requirements for Private Companies (effective 3 Jan 2016)

BizFile+ will incorporate new filing requirements arising from legislative changes in the Companies (Amendment) Act 2014. These include:

Updating shareholder information to facilitate ACRA’s maintenance of electronic Registers of Members (EROM) of private companies from 3 Jan 2016. Private companies will have up to their next annual returns filing due date or up to six months from 3 Jan 2016, whichever is earlier, to update the EROM. No fees will be charged for updating the EROM. 

Lodging the appointment of Chief Executive Officer (CEO) (if any) in ACRA’s register. Late filing penalty will not be imposed for companies whose CEOs were appointed prior to 3 Jan 2016 but whose information is updated between 3 Jan to 30 June 2016.  

Preparing for BizFile+

BizFile+ will be more user intuitive, and sport a more customer-friendly interface. New features include customised dashboards for each user, streamlined processes and mobile options to perform some transactions on the go.

BizFile users can familiarise themselves with BizFile+ through e-guides, training videos and presentation slides on the key features and transactions in the BizFile+ system available here. Guides and training videos will be progressively updated; please visit this page regularly for updates, or subscribe to ACRA News Alert to receive prompt updates via email.  

 

Legislative changes and revised simplified fee structure

As announced on 5 Nov 2015, legislative changes in the Companies (Amendment) Act 2014 and the new Business Names Registration Act (BNRA) (which replaces the current Business Registration Act) will take effect on 3 Jan 2016.  BizFile+ will incorporate new filing requirements linked to these legislative changes.

Legislative Amendments

Please click on the links below for details on the key legislative reforms in the Companies Act and the new Business Names Registration Act:

 

List of key legislative amendments to the Companies Act implemented on 1 July 2015

List of key legislative amendments to the Companies Act to be implemented on 3 Jan 2016

List of key provisions in the new Business Names Registration Act to take effect on 3 Jan 2016

 

Streamlining of Regulatory Fee Structure

The enhanced regulatory fee structure which has been streamlined will take effect in tandem with the launch of BizFile+ on 3 Jan 15. 

Some common transaction such as Filing of Annual Return will be increased to $60 (Currently $20), while other ad hoc transaction currently under a pay-per-use, will be made free of charge.

Click here for more information. 

 

Due to the unavailable service in BizFile system, we urge all customers who would like to incorporate a company or update any changes to the company to do so before 25 Dec 2015, 2330 hrs. 

Please call 66864882 or click here to submit an enquiry.

Thank you.

Are you still rushing to get your accounts up to date?

Get in touch with us.
Top