When the annual report has not been filed, the market offers two solutions. One is a cheap self-service app. The other is a person who costs many times more. It looks like the same work at two prices. In fact these are two different products for two different situations. Before you pay, it is worth knowing which situation is yours.
When an app is exactly the right choice
An app suits you if all of the following is true:
- it is a small company;
- the year was simple, or the company was dormant (ordinary income and costs, or nothing at all happened);
- no loans with interest have been given or taken;
- no letter has arrived from the Commercial Register yet — no warning, no fine, no threat of deletion;
- you know how to sign digitally and you confirm the figures yourself.
If this describes your situation, file the report yourself in the e-Business Register. Do it today. You do not need us.
Where an app stops
Self-service apps keep away from complexity on purpose. Most of them do not accept loans with interest. They are also not suitable for larger companies, or for company forms other than the private limited company. The most important point, though, is this: an app files the report, but it does not solve the situation.
The most common example is the owner's loan. This is money that you put into your company, or took out of it, without any interest being written down. It is the most common balance sheet line in a small company. And that is exactly what cheap apps turn away.
Three situations that need a person
Several years have not been filed. Reports build on one another. Each year starts from the closing balances of the year before, so the order matters.
A letter has already arrived from the Commercial Register. A warning, a fine or a deletion deadline is a legal situation, not data entry. If the report is still not filed, the registrar may impose a repeated fine without a separate warning. Deletion from the register, however, is always preceded by a deadline given in a warning. A company may be deleted from the register when the report is still not filed at least three months after the deadline.
The report brings a capital problem to light. If net assets have fallen below half of the share capital, a second worry appears. The report that solves the filing problem brings the capital problem to light. The law says this clearly (Commercial Code § 176):
“If the net assets of a private limited company are less than one-half of the share capital, the shareholders shall decide on […]”
Source: riigiteataja.ee, Commercial Code § 176.
The deadline
The annual report has to be filed within six months of the end of the financial year. This is the simplest date to keep in mind.
What “expert” should mean
So that you do not overpay for an expert either, real help should give you two things. First, a written plan — which years, in which order — for an agreed fixed fee. Second, a named person who takes responsibility — something the terms of an app never do.
Book a free call
If you are not sure which solution you need, book a free 15-minute call. I will tell you honestly — including when an app is enough for you.
Common questions
Does a fine that has already been imposed disappear if I file the report?
Filing stops what would come next, but as a rule a fine that has already been imposed stays.
The company has already been deleted from the register — does an app help?
No. Restoring a deleted company is a legal procedure, not the filing of a report.
This article was prepared with the help of artificial intelligence.