Even when the steps to filing annual returns are clear, many entrepreneurs make avoidable errors that slow down the CAC annual returns process or attract penalties.
Knowing these mistakes helps you avoid delays and keeps your record with the Corporate Affairs Commission accurate.
1. Submitting the Wrong Form
Each entity type has its own prescribed form:
- Companies must use CAC 19.
- Business names must use CAC/BN 06.
- Incorporated trustees file using a statement of affairs with trustee details.
Using the wrong form can result in queries or outright rejection.
2. Failing to Update Changes Before Filing
One of the most common mistakes when filing CAC annual returns is neglecting to update company officers, business addresses, or trustee details before filing.
The CAC requires all changes to be registered first. If these are not updated, your annual return may be flagged.
3. Entering Inaccurate or Incomplete Information
Errors in director or proprietor names, missing shareholder details, or incomplete financial information are frequent causes of rejection.
These mistakes create inconsistencies in the CAC register and can affect your company’s status.
4. Not Uploading Clear Supporting Documents
Poorly scanned or missing documents often lead to delays. For instance, audited financial statements for companies or statements of affairs for trustees must be clear and legible.
5. Ignoring Payment Confirmation
Some entrepreneurs complete the forms but fail to generate or confirm the payment reference. Without a successful payment, the filing process is incomplete, and no acknowledgement slip will be issued. Be aware of all deadlines, fees, and penalties to avoid issues.
6. Forgetting to Save The Acknowledgement Slip
The acknowledgement slip is proof that the CAC annual return filing has been completed.
Many businesses overlook downloading it, only to struggle later when proof of compliance is required by banks, investors, or regulators.
Overview of Common Mistakes and How to Avoid Them
| Mistake | Consequence | Solution |
| Using the wrong form (CAC 19, CAC/BN 06, or statement of affairs) | Filing rejection or queries | Confirm your entity type and select the right form. Consult this Complete Guide to Filing Annual Returns for clarity. |
| Not updating changes (directors, trustees, addresses) | Return flagged or delayed | File changes first, then proceed with annual return |
| Inaccurate or incomplete information | CAC register inconsistency, rejection | Cross-check all entries before submission |
| Poorly scanned or missing documents | Delays in approval | Upload clear, legible copies of all required documents |
| Ignoring payment confirmation | Filing remains incomplete | Generate invoice, pay online, confirm reference number |
| Forgetting to save acknowledgement slip | No proof of compliance later | Download and store the slip immediately after approval |
Conclusion
Avoiding these mistakes saves time and money. According to the Corporate Affairs Commission, late or failed filings can attract penalties that grow yearly, making compliance unnecessarily expensive.
For entrepreneurs who want a stress-free process, careful attention to detail or engaging professional assistance is the best strategy.
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