What is Annual Reporting?
Annual reporting
is the process of preparing and submitting your company’s yearly financial statements, including the balance sheet, income statement, cash flow statement, and management report.
These documents provide a comprehensive overview of your company’s financial health and are required by Estonian law for transparency and regulatory compliance.
Critical Deadline: June 30th
All Estonian companies must submit their annual reports by June 30th following the end of the financial year.
Late submissions result in automatic penalties starting at €400 and can increase significantly. Don’t risk compliance issues—let us handle your annual reporting on time, every time.
Who Needs
Annual Reporting?
Every Estonian Company Must File
All companies registered in Estonia, regardless of size or activity level, are required to submit annual reports. This includes:
- Private Limited Companies (OÜ) – Most common business structure
- Public Limited Companies (AS) – Larger enterprises
- Branches of Foreign Companies – Operating in Estonia
- Dormant Companies – Even with no business activity
- E-Residency Companies – Managed remotely
Penalties for Late or Incorrect Annual Reports
Estonian law imposes strict penalties for non-compliance with annual reporting requirements:
- Late Submission Fine: Starts at €400 for missing the June 30 deadline
- Repeated Violations: Fines can increase up to €1,200 for continued non-compliance
- Management Board Liability: Board members can be held personally liable for non-compliance
- Company Dissolution: Persistent failure to submit reports can lead to forced liquidation
- Bank Account Restrictions: Some banks may freeze accounts for non-compliant companies
- Reputational Damage: Public records show late submissions, harming business credibility
Don’t risk your business reputation and finances. Partner with LKS Consult to ensure timely, accurate annual reporting every year.
LKS Consult
Our Annual Reporting Services
Financial Statements Preparation
We prepare complete, audit-ready financial statements including:
- Balance Sheet (assets, liabilities, equity)
- Income Statement (profit & loss)
- Cash Flow Statement
- Notes to Financial Statements
Management Report
For companies meeting legal thresholds, we prepare comprehensive management reports covering:
- Business overview and objectives
- Financial performance analysis
- Risk assessment and management
- Future outlook and plans
Tax Return Filing
Complete preparation and submission of annual tax returns:
- Corporate Income Tax Return (TSD annex 4)
- Social Tax annual reconciliation
- Transfer pricing documentation
- Tax optimization recommendations
Business Register Submission
Timely and accurate submission to authorities:
- Electronic filing to Business Register
- Digital signature application
- Confirmation and tracking
- Deadline monitoring and reminders
Audit Coordination
For companies requiring statutory audits:
- Auditor selection and coordination
- Document preparation for audit
- Communication with auditors
- Audit report incorporation
Shareholder Meeting Support
Complete documentation for annual general meetings:
- Meeting agenda preparation
- Resolution drafting
- Minutes and protocol documentation
- Profit distribution calculations
Ready to start?
Leave us request and we will make proposal
Creating Success
Why Choose LKS Consult for Annual Reporting?
Whether you’re a small business owner seeking guidance on tax optimization, a startup in need of comprehensive financial planning, or a large corporation looking for strategic financial insight, our team of accountants is here to support you every step of the way.
Never Miss a Deadline
Our systematic approach and automated reminders ensure your annual report is always submitted on time, avoiding penalties.
Certified Professionals
Our team includes CPAs and Chartered Accountants with deep expertise in Estonian accounting standards.
10+ Years Experience
We've prepared over 3,000 annual reports for companies across all industries and sizes.
Full Compliance
We stay updated on all regulatory changes and ensure your reports meet current legal requirements.
Tax Optimization
We identify legitimate tax-saving opportunities within your annual reporting process.
Transparent Communication
You'll have a dedicated account manager who keeps you informed throughout the entire process.
Ready to Ensure Compliance for 2025?
Our Annual Reporting Process
We contact you at the start of the year to review your financial data, discuss any changes in business structure, and plan the reporting timeline.
We gather all necessary financial documents, transaction records, bank statements, and supporting documentation from the past financial year.
Our certified accountants prepare your complete financial statements in accordance with Estonian Accounting Standards and International Financial Reporting Standards (IFRS) where applicable.
We send you the draft annual report for review. You have the opportunity to ask questions, request clarifications, and approve the final version.
We can handle catch-up bookkeeping for previous periods. We’ll assess the volume of work needed and provide a one-time quote for bringing your books up to date.
For companies requiring statutory audits, we coordinate with external auditors and provide all necessary documentation.
We electronically submit your approved annual report to the Estonian Business Register well before the deadline, ensuring compliance.
You receive confirmation of successful submission, and we archive all documents securely for the legally required 7-year period.
- Keep in mind that accounting regulations and requirements may change over time, so staying informed and seeking professional advice when necessary is crucial to ensure compliance and financial success in Estonia.
Ready to Ensure Compliance for 2025?
Don’t wait until the last minute.
Start your annual reporting process now with Estonia’s most trusted corporate services provider.
FAQ
FAQs about payroll services in Estonia
Contact us today for a consultation, and discover the difference that our team of expert accountants can make for your business or personal finances. Your success is our success, and we look forward to being a part of it.
The deadline is June 30th following the end of the financial year. For example, for the 2024 financial year (ending December 31, 2024), the report must be submitted by June 30, 2025.
Even dormant companies must submit annual reports. We prepare zero-activity reports showing no transactions, which still must be filed with the Business Register to maintain compliance.
Audit requirements depend on your company size. Generally, companies exceeding two of these thresholds require audits: balance sheet €4M+, revenue €8M+, or 50+ employees. We’ll assess your specific situation and advise accordingly.
Legally, yes. However, Estonian accounting standards are complex, and errors can lead to penalties or rejections. Professional preparation ensures accuracy, compliance, and can often identify tax savings that offset the service cost.
We typically need: all bank statements, invoices (income and expenses), contracts, loan agreements, inventory records, and any previous financial statements. If we handle your monthly bookkeeping, we already have most of this information.
From data collection to submission, the process typically takes 4-6 weeks. We recommend starting in April to ensure comfortable completion before the June 30 deadline.
Yes, we can prepare and submit overdue annual reports. However, penalties will apply for late submission. The sooner you address missing reports, the better—contact us immediately if you’re behind on filings.
The reporting requirements are identical for all Estonian companies, regardless of whether they’re managed locally or remotely by e-residents. The process is fully digital, making it convenient for remote business owners.
- Keep in mind that accounting regulations and requirements may change over time, so staying informed and seeking professional advice when necessary is crucial to ensure compliance and financial success in Estonia.
