In Luxembourg, companies are required to file their annual accounts within a specific timeframe to ensure financial transparency and compliance with legal obligations.
Filing Deadline
Annual accounts must be approved within six months following the end of the financial year. Once approved, they must be filed within the following month, i.e., no later than seven months after the end of the financial year.
Penalties for Late Filing
Failure to meet these deadlines results in progressively increasing surcharges:
- €50 excluding VAT if the filing is done between the 8th and 9th month after the financial year-end.
- €200 excluding VAT if the filing is done between the 9th and 11th month.
- €500 excluding VAT if the filing is done from the 12th month onwards.
These fees apply individually to each filing and are considered deductible professional expenses.
Criminal Penalties
In cases of non-filing or late filing of annual accounts, directors or managers may face criminal penalties. Fines range from €500 to €25,000, and in cases of fraudulent intent, prison sentences ranging from 1 to 2 years may be imposed.
Additional Consequences
Beyond financial and criminal penalties, the failure to file annual accounts may lead to administrative consequences. The court may order a thorough investigation into the company’s financial situation, and in the most severe cases, judicial liquidation proceedings may be initiated.
Conclusion
It is crucial for companies to meet the filing deadlines for annual accounts to avoid financial and criminal penalties, as well as serious administrative consequences. Early planning and preparation are key to ensuring compliance and the long-term viability of the business.
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