Timeline for Year-End Account Closing and Financial Statement Preparation
Timeline – Legal Requirements for Year-End Financial Statement Preparation and Account Closing:
Summary of Key Points
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The closing of annual financial accounts must be completed by the
company within 60 days from the end of the accounting period.
(Reference: Notification of the Department of Business Development regarding the types of accounts to be maintained, the content and details required in the accounts, the timeline for recording transactions, and the supporting documents required for accounting entries, B.E. 2544 (2001)) -
In the case of a limited company, a shareholders' meeting must be
held within 4 months from the date of the annual financial
statement closing.
(Reference: Civil and Commercial Code - Partnerships and Companies, Section 1197) -
In the case of a limited company, for the annual general meeting
of shareholders, an invitation must be sent by registered mail at
least 7 days prior to the meeting date.
(Reference: Civil and Commercial Code - Partnerships and Companies, Section 1175) -
In the case of a limited company, after the annual general meeting
of shareholders, the company must submit a copy of the
shareholders' register to the Department of Business Development,
Ministry of Commerce, within 14 days.
(Reference: Civil and Commercial Code - Partnerships and Companies, Section 1139) -
In the case of a limited company, after the financial statements
have been approved by the annual general meeting of shareholders,
the company must submit the financial statements to the Department
of Business Development, Ministry of Commerce, within 1 month.
For a limited partnership, the financial statements must be submitted within 5 months from the end of the accounting period.
(Reference: Accounting Act, B.E. 2543 (2000), Chapter 2, Persons Responsible for Preparing Accounts, Section 11) -
The submission of Form P.N.D. 50 must be completed within 150 days
from the last day of the accounting period.
(Reference: Revenue Code, Chapter 3: Income Tax, Section 69)