Annual Submissions for Co-operatives Goes Online

From 25 October 2024 co-operatives will have to submit their annual returns online to CIPC. This new process, in line with Sections 26A and 47 of the Co-operatives Act, aims to simplify compliance and reduce the paperwork burden for co-operatives.

New Requirements for Co-operatives

The updated online filing system includes distinct categories for co-operatives based on their annual revenue, and different requirements apply to each category. The amended Co-operatives Act 6 of 2013 outlines the reporting requirements, including submissions of audited financial statements or independently reviewed reports where applicable. Read more about the categories and the mandatory report required in CIPC Notice 67 of 2024.

If you work with co-operatives, take note of this change to ensure that your clients are prepared for the transition to online filing.