This article is for Irish company directors who have missed their CRO filing deadline or are worried about falling behind on annual returns.
If you're facing late filing penalties, concerned about strike-off proceedings, or wondering how to get back into compliance, this guide covers exactly how penalties escalate, what strike-off actually means for you, and the hidden costs like losing your audit exemption that can cost €4,000-€6,000 over two years.
Key Takeaways
• Late filing triggers an immediate €100 penalty plus €3 daily until capped at €1,200 maximum penalty.
• Filing late once costs you audit exemption for two years, resulting in €4,000-€6,000 in mandatory audit fees.
• The CRO initiates strike-off proceedings for persistent non-compliance, removing your limited liability protection and freezing bank accounts.
• Late filing creates a permanent public compliance record that affects future directorships, loans, and investment opportunities.
• Set up a compliance calendar with 90, 60, and 30-day reminders before your 56-day filing deadline.
Laura Ryan is a practising Barrister at the Bar of Ireland. She graduated from the Honourable Society of King’s Inns in 2024, having previously qualified and practised as a Chartered Accountant in a big four accounting firm.
How much does it cost if I file my annual return late?
You'll pay an immediate €100 penalty the day after your deadline passes, plus €3 for every additional day until you file. The penalty caps at €1,200 maximum (reached after 367 days late), and you still owe the standard €20 filing fee on top of that.
Will my company be struck off if I miss one filing deadline?
No, missing one deadline doesn't trigger automatic strike-off. However, the CRO can initiate strike-off proceedings for persistent non-compliance, especially if you have multiple outstanding returns, and they've resumed active enforcement following the Companies Act 2024 amendments.
What's the biggest financial consequence of filing late beyond the penalties?
You'll lose your audit exemption for the following two years, forcing you to obtain mandatory statutory audits costing €2,000-€3,000 per year. This means the true cost of late filing is €4,000-€6,000 over two years - far exceeding the €1,200 maximum penalty.
Can I still get back into compliance after filing late?
Yes, you can always file late and get back into compliance until your company is actually struck off. The process is the same as standard filing through the CRO's CORE system - just prepare your documents, calculate your total fees (filing fee plus accumulated penalties), and submit everything online.
What happens to me personally if my company gets struck off?
You lose limited liability protection immediately and become personally liable for any ongoing business debts. Your company bank accounts freeze, contracts become void, and you may face director disqualification proceedings if the struck-off company owes money to creditors - typically barring you from directorships for five years.
Does late filing affect my reputation as a director?
Yes, the CRO maintains permanent public records showing your company's filing history including all late submissions. Potential investors, lenders, and business partners routinely check these compliance records, and poor history can result in difficulty securing future directorships, business loans, or investment capital.
Can I apply for a court extension if I need more time to file?
Yes, you can apply to the District Court under Section 343(5) for a time extension, but you need genuine hardship reasons like serious illness, lost records, or director disputes. Simple forgetfulness doesn't qualify, and the process costs €500-€1,500 in solicitor fees plus court fees - often more expensive than just filing late and paying penalties.
How can I avoid late filing penalties in the future?
Set up a compliance calendar tracking your Annual Return Date and the 56-day filing deadline, with reminders at 90, 60, and 30 days before the deadline. Many companies engage professional company secretaries (costing €200-€500) to handle filings automatically, which typically costs less than one year's mandatory audit fees if you lose your exemption.
