What is a Section 343 Application?
Where extenuating circumstances contributed to the annual return not being filed on time, Section 343(5) permits the company to make an application before a District Court Judge for an order extending the time for filing the return. OmniPro can help by managing this process from start to finish on behalf of your client.
In a normal S343 appeal, the process is as follows:
- The company has missed its annual return(s) date and not filed the late return(s)
- The directors or agent engage OmniPro to prepare the Notice of Application and Affidavit.
- The affidavit must be sworn in front of a practicing solicitor.
- The Notice of Application is lodged with the District Court and the Affidavit is lodged with the CRO.
- The appeal is heard by a District Court judge, and it can either be granted or rejected.
- If granted, the company is given an extension that allows it to file the annual return that otherwise would have been late. All late filing fees and any audit requirements that were imposed due to late filing of that annual return are also waived.
- If the previous annual return was filed late, then the audit requirement will still apply.
- When the order has been granted, it will be lodged with the CRO as soon as possible, and in advance of the annual return. This order grants an extension to file the annual return and sets out the date by which the financial statements must be filed.
- Once the order is filed, the accounts and form B1 must be filed within the specified timeframe. This can be as much as eight weeks after the court date, but the applicant should check as each order can be different. A B1 form must be filed with a filing fee of €20.
- Company saves on late fees and two year audit requirement.
The cost for this service is €999 + VAT and Outlay
Once OmniPro Corporate Consultants Limited (OPCC) receives this information the letter of engagement, invoice and Anti-Money Laundering requirements will be issued. On receipt the above information will be passed along to the solicitor who will draft the affidavit. OPCC will in turn issue the required documentation to you. This will then need to be certified by a Solicitor or Commissioner for Oaths in the presence of your client. The average cost per document is €10-€15. Once certified the supporting affidavit, exhibit page and any other required documentation will need to be sent back to our office which are then forwarded to the solicitor who will in turn apply for a court date. You/Your client will not need to be in attendance for the application.
Additional Information
- For the application and if required, the registered office address will be moved to Dublin. Once the application is complete the registered office address will revert back to what it was prior to the change.
Please note as the CRO Form B2 is changing your address temporarily it is of high importance that you correspond in advance with all vendors, utility companies, banks, Revenue etc to ensure that they redirect any post to your actual registered office to ensure you do not miss out on any important post. It cannot be guaranteed that you will receive any post issued to the Dublin address during this period of temporarily change and OmniPro Corporate Consultants Limited cannot be held liable for any post that you do not receive. - If the solicitor or barrister are required to complete additional work outside the scope of the initial application, for example, adjourned applications, additional supplementary affidavits there may be an additional fee for their services which will be invoiced after the application and due for payment on the issuance of the invoice.
- If the prior year annual return was filed late and late fees were paid then one of the years being sought under the application will have to be audited.
- When reviewing audit requirements please consider any requirements as part of funding agreements/shareholders agreements to audit accounts. A section 343 application cannot stop such audit requirements.
- Outcome of the application: If your application is successful, the outstanding B1 (and €20.00 filing fee) financial statements need to be uploaded onto core before the date specified on the order. If your application is unsuccessful the company will be late filing and must file its annual return and audited financial statement along with any penalties/late filing fees. Note the company does have the option to appeal to a higher court. If this option is chosen there would be an additional fee.