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  3. BVI Financial Annual Return- Extension date for filing confirmed

BVI Financial Annual Return- Extension date for filing confirmed

16 Dec 2024
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The BVI Financial Services Commission announced on 11 December 2024 that companies required by the Act to submit their initial Financial Annual Return (FAR) to their registered agent by 30 September 2024, have been granted a nine month extension.

The new deadline for filing the first FAR is 30 June 2025.

If a company fails to meet the extended filing deadline, its registered agent must notify the BVI Financial Services Commission within 30 days of the relevant company’s failure to file. The Commission in turn may initiate enforcement action against the company.

It is important to note that at this point it appears that the automatic extension only affects financial periods ended 31 December 2023. Entities with a different period end which were or will be unable to submit their FAR on time are likely to need to make an application for an extension via their registered agent.

Please reach out to us if you need to make an extension application at BVIFAR@harneysfiduciary.com.