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DEF Advisory

Corporate Compliance

Compliance Guide

Your Guide to Staying Compliant

Incorporation is only the beginning. Malaysian companies may have recurring corporate, ownership, tax, employment and record-keeping responsibilities.

Compliance checklist and pen on a professional office desk
Section 01

Annual Corporate Compliance

Annual Return

The Annual Return provides updated information about the company, including its business activities, registered office, directors, secretary and members/shareholding information.

The approved design states that a local company's Annual Return is generally required to be lodged within 30 days from the anniversary of its incorporation date. Verify before publication.

Financial Statements & Reports

Companies are required to prepare and lodge financial statements and reports according to the applicable requirements. Timing and requirements differ depending on the type of company and circumstances.

Company Records

Companies should maintain proper accounting records, statutory registers and corporate documents.

Section 02

Corporate Changes

When important company information changes, the appropriate notification or filing may need to be made with SSM.

Outdated company information can create unnecessary problems when dealing with banks, government authorities, customers, suppliers, investors, auditors and other professional advisers.

  • Change of directors
  • Change of company secretary
  • Change of registered office
  • Change of business address
  • Change of business activities
  • Appointment or cessation of officers
  • Changes to shareholding
  • Allotment or transfer of shares
  • Changes to company particulars
Section 03

Beneficial Ownership

Companies need to identify and maintain appropriate beneficial ownership information according to applicable requirements.

The design references SSM's Electronic Beneficial Ownership System (e-BOS), accessible through SSM4U.

  • Beneficial owner details
  • Changes to beneficial ownership
  • Relevant senior management information
  • Supporting information required for verification
  • Updates or cessation of beneficial owners
Section 04

Company Secretarial Compliance

A company secretary plays an important role in helping a company maintain its statutory and corporate records.

Statutory Records

  • Register of members
  • Register of directors
  • Register of secretaries
  • Share records
  • Other statutory registers and records

Corporate Documentation

  • Board resolutions
  • Members' resolutions
  • Notices
  • Corporate forms
  • Share-related documents

Corporate Filings

  • Annual Return
  • Changes in company particulars
  • Share allotments
  • Other applicable statutory notifications
Section 05

Tax Compliance

Corporate compliance also involves understanding applicable tax responsibilities. DEF Advisory can help coordinate corporate requirements with the company's appointed accountant or tax professional where appropriate.

  • Corporate income tax
  • Tax instalments
  • Tax returns
  • Tax records
  • Tax-related registrations
  • Other applicable tax obligations
Section 06

Employee Compliance

When a business employs staff, it may need to consider various employer registration, contribution and payroll requirements.

Employers should check the latest requirements applicable to their business to ensure they remain compliant with current regulations.

EPF

Employee registration and statutory contributions where applicable.

SOCSO

Employer registration and social security contributions where applicable.

EIS

Employment Insurance System registration and contributions where applicable.

Payroll

Proper payroll processing, employee records and statutory deductions.

Section 07

Best Practices

  • Keep a compliance calendar and track important deadlines.
  • Keep company information up to date with SSM.
  • Maintain proper records and supporting documents.
  • Work with trusted professionals.
  • Review compliance regularly as the business grows.
Section 08

Frequently Asked Questions

What happens if I miss my Annual Return deadline?

Late lodgement may result in penalties. Check the current SSM requirements and arrange the filing promptly.

Do I need to lodge financial statements every year?

Companies are required to prepare and lodge financial statements and reports according to the requirements that apply to their type and circumstances.

How quickly should I notify SSM of changes?

Notification requirements vary by change type. Keep company information current and check the applicable requirement when a change occurs.

What is beneficial ownership and do I need to file it?

Companies may need to identify, maintain and update beneficial ownership information according to applicable requirements.

Can DEF Advisory help with all compliance matters?

DEF Advisory can help manage corporate compliance and coordinate with appointed accounting, tax or other professional advisers where appropriate.