The Registrar-General’s Department (RGD), has commenced the validation of companies in line with the directive for dormant companies to file their returns.

Companies that fail to file returns face being delisted from the Companies Register.

The three-month-long review began on July 1, 2021, and will end on September 30, 2021.

“The review has become necessary after the Final Notice was issued on 18/03/2021 to officials of dormant Companies to file their Annual Returns to be in good standing with the Department,” it noted in a statement.

The strike-off exercise became necessary as a result of the Department’s Company database being bloated with names of dormant companies entered onto the Companies Register.

“In summary, 257,241 Companies existing in the new database had not filed their Returns or Amendments with the Department, and 670,282 Companies in the Legacy system had not carried out their re-registration as at the release of the first Notice in March 2020,” the statement outlined.

“Companies due for strike off still in default after this three-month review would be published in the National Dailies and the Department’s website. A Company’s status at this period would be classified as being inactive and would not be able to be accessed for any business transaction for the next 12 years except by a Court Order to the Registrar to restore it to a status of good standing in the Companies Register,” the statement added.

The department thus advised such companies “to use this three-month review to undertake all the necessary measures to be in good standing with the Department if they were not able to do so all this time and are still interested in carrying on business with that name.”

It reminded companies that the penalty for late filing remains GH¢450.00 and GH¢50.00 for filing of Annual Returns for each year.