Stay on the calendar year or customize your closing date?
When writing your company’s articles of association, the default date for closing the accounts is December 31. The exercise is simply based on the calendar year. Depending on your activity, it is quite possible that the calendar year is not suitable for your company. You can change the dates of your financial year, as long as it respects the default legal duration: 12 months. This concerns all forms of commercial company: EURL, SARL, SASU, SAS, SA, as well as individual companies. On the other hand, for the liberal professions subject to the BNC regime, the year-end date is necessarily December 31.
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Your approved accounts registered with the RCS
The approval of a company’s annual accounts is an essential and important step. The approval of the accounts is lighter for the one-person companies EURL and SASU, since it does not require a general meeting. The manager convenes the sole partner / shareholder, who are often one and the same person. The accounting document which will be approved by the partners of the SARL or the shareholders of the SAS or SA must be approved and registered in the Trade and Companies Register (RCS). This filing with the commercial court registry is a compulsory legal formality. It must take place within one month of the approval of the accounts. Forgetting this formality exposes the manager to the payment of a fine of 1,500 euros, an amount doubled in the event of a repeat offense.
Why change the closing date of your company’s accounts?
Obvious for certain seasonal activities (hotels for example), the closing date of the annual accounts is not necessarily so for others. The calendar year may be the easiest choice when starting the business, especially since you can change it later. After one or more exercises, you may realize that it is useful to change the calendar of your exercise. Bringing together companies with different calendars is also an opportunity to make them coincide.
What formalities and when to carry them out?
When setting up your company, the closing date is defined in the articles of association. Like any statutory amendment, that of the accounting year is subject to several formalities:
- Vote in GA;
- Registration with the RCS.
The documents to bring to the clerk of the commercial court are:
- 1 M2 legal person modification form;
- 1 copy of the updated articles of association (certified true copy);
- 1 copy of the decision minutes (certified true copy).
In the event of an accounting year shortened by the new date, the partners / shareholders must meet before the new closing date. In the event of an extension of the accounting year, you must have this change registered before the initial closing date. Think about it before, it’s prudent to anticipate legal deadlines.
The change in fiscal year end changes your legal status and is registered in the registers of the commercial court. But unlike other statutory changes, be aware that there is no need to issue a legal notice in this case.
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