Which deadlines do I need to consider when submitting my annual financial statements?
June 4, 2022 | 40,00 EUR | answered by Louis König
Dear tax advisor,
my name is Adele Pilz and I run a small business in the textile industry. This year, I have created an annual financial statement for the first time and now I am facing the question of which deadlines I need to consider when submitting it. I am unsure if I have completed everything on time and I want to ensure that I do not incur any penalties or disadvantages due to a late submission of the annual financial statement.
My annual financial statement is already prepared, but I am not sure if all relevant documents and records are complete. I want to ensure that my annual financial statement is accurate and submitted on time to avoid any potential issues.
What specific deadlines do I need to consider when submitting my annual financial statement? Are there any special deadlines for small businesses like mine? And what can I do if I have accidentally missed the deadlines? I am grateful for your help and guidance on this matter.
Thank you in advance.
Best regards,
Adele Pilz
Dear Mrs. Pilz,
Thank you for your question regarding the deadlines for submitting your annual financial statements. As a tax advisor specializing in annual financial statements, I would be happy to assist you and provide you with all the relevant information you need.
In general, there are legally prescribed deadlines for submitting the annual financial statements that apply to all companies, regardless of their size. In Germany, corporations, such as a GmbH, must submit their annual financial statements to the electronic Federal Gazette within 12 months after the end of the business year. For partnerships, such as a GbR or KG, the deadline is 11 months after the end of the business year. So, if your business year ends on December 31st, you would have to submit your annual financial statements by December 31st of the following year.
As a small company in the textile industry, the same deadlines apply to you as to other companies. However, there is the possibility to apply for an extension if you cannot submit the annual financial statements on time for legitimate reasons. Such an application must be submitted in a timely manner and the reasons for the delay must be plausible.
If you have inadvertently missed the deadline, you should take immediate action and submit the annual financial statements as soon as possible. In this case, penalties or fines may be imposed, so it is important to react quickly and justify the late submission.
To ensure that your annual financial statements are correct and all relevant documents are complete, I recommend seeking assistance from an experienced tax advisor. A tax advisor can review the annual financial statements, correct any errors, and ensure compliance with all legal requirements.
I hope this information has been helpful to you and I am available to assist you further if you have any more questions or need further advice.
Sincerely,
Louis König
