Have you updated the Electronic Register of Members (EROM) of your Singapore Company?
One of the recent legislative changes to the Singapore Companies Act is that ACRA will maintain the Registers of Members for private companies in electronic form (EROM) from 3 Jan 2016, and companies will need to update shareholder information that will be recorded in the EROM.
In December 2015, ACRA announced that as this will be the first time current private companies will be updating their Electronic Register of Members (EROM), companies would be given up to 6 months to update their shareholder information, unless their annual return filing due date falls before 3 Jul 2016. After taking into account feedback from companies, ACRA announced that private companies with annual filing dates after 4 July 2016 but before 3 Jan 2017 will be given more time. They will be required to update their shareholder information, by the time of the filing of the annual return, instead of by 4 Jul 2016.
Taken from ACRA’s update on 19 Dec 2016, private companies that have yet to update the shareholder information by 3 Jan 2017, will not be able to file their annual returns for FY2016 via Bizfile, until the EROM is updated.
Have you updated the Electronic Register of Members of your Singapore company yet? Be sure to check in with your Company Secretary as soon as possible!