RSA CIPC Beneficial Ownership Reports

On Mar. 18, RSA CIPC issued notice on enforcement of declarations.

  • RSA CIPC issued notice to customers on incorporating beneficial ownership information with annual return filings, for companies and close corporations.
  • Per amendments brought about by the General laws (anti-money laundering and combatting terrorism financing) amendment act, which amended the Companies act.
  • Follows Sep. 2023, RSA CIPC issued notice on mandatory filings, see #185413.
  • Enforcement Action
  • Per amendment, as of May 24, 2023 implementation of relevant regulations, all companies / close corporations must file annual return, together with beneficial ownership declaration, security register within 30 business days of anniversary date.
  • If beneficial ownership declaration is not up to date the company or close corporation may incur penalties for the late filing of annual returns.
  • Enforcement action may be taken by RSA CIPC with investigation into administration and governance processes of business and issuing of a compliance notice.
  • And/or referral for deregistration and even final deregistration, due to non-compliance.
  • Effectiveness
  • RSA CIPC will strictly enforce the filing of beneficial ownership declarations information with the filing of annual returns, as from Apr. 15, 2024.

Regulators RSA CIPC
Entity Types Corp; Fiduciary
Reference PR, RN 26/2024, 3/18/2024
Functions AML; Anti-Bribery; Compliance; Financial; Operations; Registration/Licensing; Reporting; Tax
Countries South Africa
Products Corporate; Securities
Regions EMEA
Rule Type Final
Rule Date 3/18/2024
Effective Date 4/15/2024
Rule Id 205171
Linked to Rule :185413
Reg. Last Update 3/18/2024
Report Section AML & Enforcement

Last substantive update on 03/21/2024