Filing annual financial statements and annual returns for 2022 Act societies
What's involved, and how to file
New legislation for incorporated societies
Incorporated societies must file a copy of their financial statements with the Companies Office each year (unless registered with Charities Services). If your society is registered under the Incorporated Societies Act 2022 (2022 Act) you must also complete an annual return. These records help to show that your society is still operating, and therefore, should remain on the register.
Each year we will email reminders to your society reconfirming the filing deadline. To make sure your society receives these reminders keep the contact addresses recorded on the register for your society up to date.
On this page:
- When your financial statements and annual return are due
- Information you'll need to provide
- How to file
- What to do if you need more time
When your financial statements and annual return are due
You must file your annual financial statements and complete your annual return within 6 months of your balance date (end of financial year). Before you file your financial statements, they must also have been presented to your society’s members at the Annual General Meeting.
For example, if your balance date is 31 March, by 30 September your society must —
- prepare its annual financial statements for that balance date, and
- hold its Annual General Meeting (AGM), and
- present the annual financial statements at the AGM, and
- file an annual return with us, along with its annual financial statements.
Information you’ll need to provide
Annual financial statements
You will need to upload a copy of your financial statements, including an audit or review report (if one is required). These statements must be dated and signed by 2 members of the committee on behalf of your society.
The information you’ll need to include in your financial statements depends on which standards apply to your society. The 2022 Act sets out minimum standards for small societies and the XRB standards set out the reporting requirements for larger societies — and there are 4 tiers of XRB standards. You'll need to check which standards will apply to your society.
Read more about the tiers and other new financial reporting requirements
Which societies must have their financial statements audited
Small societies are not required by the 2022 Act or the Incorporated Societies Regulations 2023 to have an audit.
But if your society meets the following criteria, it will need to have its financial statements audited if —
- it is not a charitable entity and
- in each of the 2 preceding accounting periods of the society, the total operating payments of the society and all entities it controls (if any) are $3 million or more.
This will cover all Tier 1 societies and some Tier 2 societies but will not cover societies that fall within Tier 3 or Tier 4.
Read more about the tiers and audit requirements
Additionally, some grant or funding applications may require your financial statements to be audited or reviewed.
Annual return
To complete your annual return, you will need to check and, if necessary, update the details recorded on the register for your society’s officers and addresses.
You will also need to certify that, at the time you complete the annual return, —
- The information about the society on the Incorporated Societies Register is up to date.
- The number of members is at least 10 for the purposes of section 8(1) of Incorporated Societies Act 2022.
How to file
To file your society’s financial statements, you must have:
- a RealMe® login
- an online services account for the Incorporated Societies Register, and
- confirmed your authority to manage information on behalf of the society.
Step by step
When your society has annual financial statements due for filing, we’ll add a reminder to your dashboard. To file financial statements and complete an annual return for your society, follow these steps —
Log in to your online services account. On your dashboard — under ‘My Reminders’ — select the link to file your society’s financial statements and annual return. Then complete the details in each section, as below.
Financial statement and annual return
- Select the year you are filing the financial statement and annual return for.
- Upload a copy of your financial statements. You’ll be asked to confirm that they have been signed by 2 members of the committee on behalf of your society.
- Confirm whether an audit review or report is included.
- Confirm which financial standards were used to prepare these financial statements. Either —
- Small society requirements according to Section 102 of the Act
- Tier 4 XRB standard
- Tier 3 XRB standard
- Tier 2 XRB standard
- Tier 1 XRB standard
Balance date
We’ll display the balance date that is currently recorded on the register. You can’t update this while filing your current financial statements and return, but if needed you can change your recorded balance date once your society’s annual filings are up to date.
Annual return
The annual return helps to confirm that your society is still operating. If you don’t file your annual return, the Registrar could remove your society from the Incorporated Societies Register.
To complete your society’s annual return, you need to check and update the details recorded in the ‘Addresses’ and ‘Officers’ tabs. Then, in the ‘Review’ tab check and confirm certain details about your society.
Addresses
We’ll display the address and contact details that are currently recorded on the register for your society. Confirm that these details are correct or update them as necessary.
Officers
We’ll display the officer details that are currently recorded on the register for your society. Confirm that these details are correct or update them as necessary.
Review
We’ll display the details you have entered or confirmed while registering the financial statement and completing the annual return.
Check that the information you’ve provided is correct. You can make further edits if needed by selecting the appropriate ‘Edit’ button.
Annual return details
Select the checkbox to certify that at the time the annual return is given to the Registrar:
- The information about the society on the Incorporated Societies Register is up to date.
- The number of members is at least 10 for the purposes of section 8(1) of Incorporated Societies Act 2022.
Submit your financial statements and annual return
Complete the ‘Signatory Details’ section and click the ‘Apply’ button to submit your financial statements and annual return.
What happens next
As soon as you’ve completed your filing, your society’s financial statements will be added to the register and will be visible to the public. At the same time, any updates you made to address or officer details will also be added to the register. Note though that only some of these details are visible to the public, such as the registered office address and officer names and the date they were appointed. Other details can only be seen by the Registrar or people who have authority to update your society’s information on the register, such as contact persons details and addresses of officers.
File annual financial statements and annual return for a societyWhat to do if you need more time
We appreciate that circumstances can sometimes mean you’re unable to file your financial statements on time. You can, however, request a filing extension, using the online service or by using a PDF form which you can download and post or email to us.
