CAC Annual Returns

Partnership agreements, joint venture agreements and strategic alliance agreements
Commercial leasing, financing and closings
Selecting the right structure of operation (Corporation, LLC, LP, etc.)
Business formation and dissolution
Employment agreements, contractor agreements
and termination/severance agreements

Business formation and dissolution
Negotiation and preparation of deal term sheets, LLC operating agreements and shareholder agreements
Formation of tax-exempt not-for-profit companies (501(c)(3) and 501(c)(3) hybrids)
Non-disclosure agreements, confidentiality agreements, non-competition and non-solicitation agreements
Employee handbooks And more...

CAC annual returns are mandatory yearly filings that all entities registered with the Corporate Affairs Commission (CAC) in Nigeria
must submit to confirm they are still active and to provide updated information about their operations and structure.

CAC Annual Returns:

Mandatory Requirement: Filing annual returns is a legal obligation under the Companies and Allied Matters Act
(CAMA) 2020 for all registered entities, including business names, private and public limited companies, and incorporated
trustees (NGOs, churches, etc.).

Purpose: The primary purpose is to keep the CAC informed that the business is still active and operating, maintain accurate
public records, and ensure legal compliance. It is not the same as filing tax returns with the Federal Inland Revenue Service
(FIRS).

Required Information: The filing requires updated details, such as the registered name and address, particulars of directors/
proprietors and share holders/partners, share capital, and sometimes financial statements (for companies) or a statement of
affairs (for small companies).

Filing Deadlines:

Business Names: Annually, between January 1st and June 30th of each year (except the year of registration).
Limited Liability Companies: Must file within 42 days after their Annual General Meeting (AGM), or for companies incorporated
after CAMA 2020, within 60 days of the anniversary of their incorporation.
Incorporated Trustees: After the first 12 months of incorporation, and annually thereafter, typically by June 30th.

Consequences of Non-Compliance:

Failure to file on time attracts penalties and fines for each year of default. Consistent failure can lead to the company's status being marked as
"inactive" and eventually struck off the CAC register, meaning it loses its legal existence and cannot access post-incorporation services, such as
obtaining CAC documents or making changes to business particulars.

E. kalu Ekpu Law Firm