DICA: 1,000 companies fail to file AR in July

A total of 1,000 companies were struck off the register in July 2025 as they failed to file annual returns (AR) on the online reg­istry system, MyCO, according to the Directorate of Investment and Company Administration (DICA).

 

The DICA report showed failure of 1,500 companies each in January and February, 900 in March to submit AR. No compa­ny fails to file AR in April. Some 400 companies in May and 600 in June did not file AR.

 

The DICA notified those companies which failed to file their AR on the MyCO were struck off the register from the date of the directive, under 430 (F) of the Myanmar Companies Law, according to the DICA’s notification.

 

A total of 19,000 companies also failed to submit the AR in 2024. The registration and re-registration of companies on the MyCO website commenced on 1 August 2018, in keeping with the Myanmar Companies Law 2017.

 

All registered companies need to submit AR on the MyCO registry system within two months of incorporation, and at least once every year (not later than one month after the anniversary of the incorpora­tion), according to Section 97 of the law.

 

Under Section 266 (A) of the Myanmar Companies Law 2017, public companies must submit annual returns and financial statements (G-5) simultane­ously. All overseas corporations must submit ARs in the pre­scribed format on MyCO within 28 days of the financial year end­ing, under Section 53 (A-1) of the Myanmar Companies Law 2017.

 

As per DICA’s report, thou­sands of companies were sus­pended for failing to submit AR forms before the due date. New­ly established companies are required to submit ARs within two months of incorporation or face a fine of K100,000 for filing late returns.

 

The DICA has notified that any company which fails to sub­mit its AR within 13 months will be notified of its suspension (I- 9A). If it fails to submit the AR within 28 days of receiving the notice, the system will show the company’s status as suspended. Companies can restore their status only after shelling out a fine of K50,000 for the AR fee, K100,000 for restoration of the company on the Register, and K100,000 for late filing of doc­uments, totalling K250,000. If a company fails to restore its sta­tus within six months of suspen­sion, the registrar will strike its name off the register, according to the DICA notice. — NN/KK