Implementation of Branch Returns Filing with the CRO

Posted in Company Secretarial, CRO

On 9th June 2018, the type of external companies obliged to register with the CRO was broadened with the commencement of Section 80 of the Companies Accounting Act 2017.
Previous to this, external companies with unlimited liability with a branch in Ireland were not required to register with the CRO.
The Companies Accounting Act 2017 has now introduced the requirement that both EEA and non-EEA external, unlimited liability undertakings, which are a subsidiary of a limited liability company are to register with the CRO once they have a branch in Ireland.
ALL branches registered with the CRO are now required to file financial statements on an annual basis as per Section 1303 of the Companies Act 2014. They are also required to notify the Registrar of any change of details to the Company.
Noncompliance by a branch to meet its filing obligations may result in the company and any officer who is in default of a Category 3 offence shall be liable on summary conviction to a Class A fine (not exceeding €5,000) or imprisonment for a term not exceeding 6 months or both.
It is anticipated that the CRO will now begin to enforce the above filing requirements.

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