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Thousands of company directors could face fines or even conviction if they do not file with the Central Register of Beneficial Ownership by the 22nd November deadline.

Latest figures released from the CRO on their Twitter account in October stated that there were over 30,000 still due. 

Anyone who holds 25% or more of a company’s shares (whether directly or indirectly) is a beneficial owner and needs to file. Under EU Anti-Money Laundering rules, it is a statutory requirement for all limited companies to register. You must register through an online portal on the Central Register of Beneficial Ownership website - https://rbo.gov.ie/. It cannot be done by post, email or in person.

Commenting on the situation Michael Scanlan of TaxAssist Accountants said “Everyone has been busy over the last few weeks with the Income Tax Return deadline but now that deadline is past you cannot switch off and forget about the RBO. Get your information together, file online before 22 November or approach your accountant about filing on your behalf.”

Michael added that “Even though there was a delay in launching the website, the CRO have stated on a number of occasions that the deadline cannot be extended.”

TaxAssist Accountants can file the return with the RBO on your company’s behalf. If you would like more information, please do not hesitate to contact us.

 

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