Changes to Company Directors Information - CRO
As you may know, the Companies (Corporate Enforcement Authority) Act 2021 contains a provision which, when activated, will require Directors of all Irish registered companies to supply their Personal Public Service Number (PPSN) to the Companies Registration Office (CRO) when they are;
Incorporating a new company (Form A1)
Filing an Annual Return (Form B1)
Filing a change in Directors (Form B10)
The CRO tells us that all necessary arrangements are being made and that this requirement will be in place by the end of Q1, 2023, which we are taking to mean 31st March 2023.
This means that NOW, would be a good time for all Directors to check their details as held by the Dept. of Employment Affairs & Social Protection to ensure they match with CRO records. If there is a discrepancy, it will lead to the CRO rejecting documents and;
In the case of a company formation, this will delay incorporation.
In the case of a change of Directors, this may impede a range of issues including bank account operation.
In the case of an Annual Return, this could lead to CRO late filing fees and, more alarmingly, loss of audit exemption for two years.
As such, Directors of all Irish registered companies would be well advised to use the weeks remaining to address this issue (or apply for a PPS if they do not already have one).
Please contact us if you have any questions in relation to this new requirement or need any support.