The Registrar-General’s Department (“RGD”) has announced that from 30 June 2022, the penalty for late filing of annual returns for companies will increase from GH¢450 to GH¢500. This increment will apply to most companies, namely public and private companies limited by Shares, public and private companies limited by guarantee, and private unlimited companies. These companies are to file their financial statement and annual returns at a fee of GHȼ50.00 per year. External companies operating locally are to submit their accounts to the RGD at a fee of $600 per year or pay a penalty of $750 plus the fees for all defaulted years.
Partnerships and sole proprietorships are also to renew their businesses each year at fees of GH¢50 and GH¢25, respectively. Sole proprietors can electronically renew their business names by dialing the shortcode *222#, selecting ‘RGD’, and following the prompt to make renewal payments using the Ghana.Gov payment platform.
Furthermore, companies must file their beneficial ownership information for GH¢60 per company before filing their annual returns or amendments.
Additionally, as required by the new Companies Act, 2019 (Act 992), every company secretary must submit a special resolution to change their company name by adding the appropriate suffix by the end of 2022. All companies yet to adopt a new constitution in place of their Company's Regulations must also do so before 31 December 2022.