Deadline for the annual financial statements in Denmark
Deadline for the annual financial statements in Denmark
Overview
Danish limited companies have to file their annual report (årsrapport) with the Danish Business Authority Erhvervsstyrelsen through Virk unless they are in final liquidation or if they filed for an official exemption statement. The filing deadline is six months after the financial year ends with no option to extend this period.
A missed deadline will lead to fees for each member of management and can even lead to dissolution of a company. In this article we will broadly cover who has to file the annual financial statement, how the deadline is counted, what the late filing costs are and how finance teams can plan around it effectively.
Who has to file the annual financial statements in Denmark?
According to Erhvervsstyrelsen, public limited companies (A/S), private limited companies (ApS), partnerselskaber, commercial foundations and enterprises with limited liability need to file annual financial statements.
Sole proprietorships and other personally owned small businesses, as well as companies in bankruptcy procedures, do not need to file their annual financial statement. Branches of foreign companies, inactive subsidiaries and some other entities can submit an exemption declaration instead of the annual report when specific conditions set by the Danish Financial Statements Act are met.
What is the filing deadline for the annual financial statements in Denmark?
The Danish Financial Statements Act sets the deadline six months after the end of the company’s financial year. Listed companies and state-owned public companies however, are required to file within four months after the end of the financial year. For example, if your company’s financial year ends on December 31st 2026, your filing deadline for the annual financial statement in Denmark will be June 30th, 2027.
Is there a deadline extension available for the annual financial statement in Denmark?
No, the deadline can not be extended. The Danish Financial Statements Act prohibits this. Management is responsible for planning the work accordingly so that the report is approved, audits are completed, and the filing is received within the deadline of 6 months.
Conclusion
The rule is short and simple: The annual financial statement in Denmark needs to be submitted six months after year-end, four months after year-end for state-owned companies, without the possibility of extending this deadline. Failure to do so will trigger fees for each member of the management team and even the risk of compulsory dissolution of the company.
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