All the companies, whether they are Inc., with limited liability or any other legal form, have the obligation to present their annual accounts in the corresponding Mercantile Registry depending on where their registered office is located. The consequences of not presenting the accounts range from the bad image of the company due to the lack of transparency, to economic sanctions against the administrators of the company.

In this article we are going to analyze the steps that companies must follow to complete the deposit of their accounts in the Registry.

Firstly, the closing of the fiscal year will be carried out, which must be reviewed and with the pertinent adjustments. The data reflected in the accounting will have to reflect the true image of the assets and must coincide with the taxes declared during the fiscal year.

Secondly, when the fiscal year is closed, it is the moment for the formulation of accounts. The company’s management body is obligated to formulate, within a maximum period of three months from the closing of the fiscal year, the annual accounts, the management report and the proposed application of the result.

Then, the approval of the accounts by the ordinary general meeting of the company will take place, which will necessarily be done within the first six months of the year following the closing date, in order to approve the corporate management, the accounts for the previous year and resolve on the application of the result.

Once the accounts have been approved, a certification of the approval of the annual accounts will be issued within a month, which must be signed by the administrators and attached to the annual accounts that will also be formed by the following documentation:

  • Instance of presentation
  • General identification data
  • Environmental declaration
  • Annual accounts formed by the balance sheet, profit and loss account, total statement of changes in equity and memory.
  • Audit report if the accounts have been audited

For most companies whose fiscal year coincides with the calendar year, the maximum term for the presentation is until July 30. In case you want to submit electronically, you must be subscribed to the Registrar’s College and have an electronic signature certificate.

Once all the documentation has been submitted to the Mercantile Registry, if the rating is favorable, the registrar will proceed to the deposit of the annual accounts, being sent to the Central Mercantile Register for publication in the BORME.

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