What kind of financial statements do newly created organizations submit?

Who is responsible for preparing accounting reports?

Drawing up financial statements and submitting them to regulatory authorities is an indispensable condition for those economic entities that, in accordance with the Law “On Accounting” dated December 6, 2011 No. 402-FZ (hereinafter referred to as Law No. 402-FZ) must keep accounting records.
You can read more about the rules and regulations specified in the above law in this section.

And almost all organizations are required to maintain it, regardless of the scale of activity, organizational and legal form of ownership and the chosen taxation regime.

NOTE! Individual entrepreneurs and structural divisions of foreign companies are exempt from the obligation to submit accounting reports if they keep correct tax records of income, expenses and other taxable items.

Failure or late submission of any reports is fraught with dire consequences. So, if an enterprise forgets to submit its accounting reporting forms to the inspectorate, then a fine of 200 rubles will be imposed on the organization itself. for each form, and for officials - from 300 to 500 rubles.

Find out what other liability is possible for late submission of financial statements and violation of accounting rules in the Guide from ConsultantPlus. You can watch K+ materials for free by signing up for a trial access to the legal system.

Reporting period

Law No. 402-FZ “On Accounting” dated December 6, 2011 established the obligation of organizations to keep records and timely report at the end of the financial year, regardless of the range of activities, legal form and tax system applied. This does not apply only to individual entrepreneurs and branches of foreign companies if they take into account their own income and expenses.

According to the general rules, the reporting period for which accounting reports are formed is the financial (calendar) year - from December 1st to December 31st. But for newly registered enterprises this period may be different.

It is clear that when a new company is formed in the middle of the year, for example, in July, the reporting period for which you need to report will be the period of time from the date of entry in the Unified State Register of Legal Entities to December 31st.

But the reporting period for which a new company is required to submit a package of financial reports can last more than a year. It all depends on the date of registration of the company.

If the entry in the Unified State Register of Legal Entities on the creation of a new organization is dated before September 30 (inclusive), then it will have to report for the current year, and the reporting period will be the period from the moment of registration until the end of the year. For example, a company formed on September 10, 2018 needs to submit reports for the period from September 10, 2018 to December 31, 2018. At the same time, in the reporting forms, the period for which they are presented will be indicated as 2022. In this case, it is necessary to submit the financial statements of the newly created organization for 2022 to the Federal Tax Service and the statistics agency before 04/01/2019 (the deadline for submission coincides with the weekend, so it is postponed from 03/31/2019 to the next weekday).

If the company was formed after September 30, then the reporting period for it will be the time period from the date specified in the Unified State Register of Legal Entities to December 31 of the following year, i.e. You will need to submit all forms of financial statements on time for submitting reports for the next year. For example, for a company registered on October 10, 2022, the reporting period will be from October 10, 2018 to December 31, 2019, and the deadline for submitting accounting reports will be limited to March 31, 2020. The reporting documents will include the period 2019.

However, the current legislation does not prevent “newcomers” from reporting on the results of their activities, even if they were registered after September 30 (Part 3, Article 15 of Law No. 402-FZ) and gives them the right to choose the duration of the first reporting period. If on 10.10.2018 the duration of the first reporting period from 10.10.2018 to 31.12.2018 was fixed in the accounting policy, then on this basis the accounting department will prepare and submit the necessary reports no later than 01.04.2019.

How does the registration date affect the obligation to submit accounting records to regulatory authorities?

In general, the reporting period for financial statements is a calendar year - from January 1 to December 31. This period will be slightly different for companies registered or reorganized/liquidated during the year.

You can learn how to draw up a liquidation balance sheet from the article “Liquidation balance sheet - an example of a zero balance sheet in the new form.”

An important date for newly created legal entities is September 30:

If registration occurred before this date, then you will have to report for the current year. The reporting period for a newcomer will be from the moment of registration to December 31. You will have to submit your accounting reports to the tax office and Rosstat before March 31 of the year following the year of creation.
If an entry was made in the Unified State Register of Legal Entities after September 30, then the reporting period for such an organization will be the period from the moment of registration to December 31 of the following year. Thus, it will be necessary to submit financial statements to the regulatory authorities only a year after creation, but also before March 31.

IT SHOULD BE NOTED! Part 3 art. 15 of Law No. 402-FZ does not prohibit newly registered economic entities from reporting for the current year if they were created after September 30. That is, such enterprises have a choice of what their first reporting period will be.

Accounting aspect

An organization must maintain accounting records continuously from the moment of state registration as a legal entity until its reorganization or liquidation (Clause 3, Article 8 of Law No. 129-FZ of November 21, 1996 “On Accounting”; hereinafter referred to as Law No. 129-FZ) .
The obligation to submit financial statements to the tax authority at the location of the company in accordance with the requirements of Law No. 129-FZ is enshrined in subparagraph 5 of paragraph 1 of Article 23 of the Tax Code. The exception is cases when companies are not required to maintain accounting or are exempt from maintaining it. (For example, organizations that apply a simplified taxation system are exempt from preparing and submitting financial statements; the basis is clause 3 of Article 4 of Law No. 129-FZ.) The enterprise prepares financial statements for the month, quarter and year on an accrual basis from the beginning of the reporting year. Interim accounting statements are submitted to the tax authority within 30 days after the end of the quarter, and annual ones - no later than 90 days after the end of the year (subclause 5, clause 1, article 23 of the Tax Code of the Russian Federation, clauses 1 and 2, article 15 of Law No. 129- Federal Law).

For organizations registered in the period from January 1 to September 30 of the current calendar year, the first reporting year is considered to be the period of time from the date of state registration to December 31 of the current calendar year, inclusive. If state registration occurred on October 1 of the current calendar year and later, then - the period from the date of state registration to December 31 of the next calendar year inclusive (clause 2 of article 14 of Law No. 129-FZ; clause 13 of PBU 4/99 “Accounting statements of an organization "; clause 36 of the Regulations on accounting and financial reporting in the Russian Federation).

If a company delays filing its financial statements by even a few days from the due date, it will be fined regardless of the number of days of delay.

For failure to submit interim financial statements (balance sheet and profit and loss statement) to the tax authority, the following measures of tax and administrative liability are provided:

collection of a fine from the taxpayer (organization) in the amount of 200 rubles for each unsubmitted document);
collection of a fine from an official of the organization - from 300 to 500 rubles.

(clause 1 of article 126 of the Tax Code of the Russian Federation and clause 1 of article 15.6 of the Code of Administrative Offenses of the Russian Federation).

What does the accounting of newly registered legal entities consist of?

The composition of the accounting records of newly created economic entities is not much different from the statements of other entities. So, this includes:

* Exclusively for non-profit organizations.

All of these forms were approved by Order of the Ministry of Finance dated July 2, 2010 No. 66n and are used as amended on April 19, 2019.

Those organizations to which the concept of a small business entity is applicable (based on the number of personnel, revenue, types of activities performed, etc.) have slight concessions: they have the right to submit only a balance sheet and a report on financial results. Moreover, these reports can be prepared using simplified forms approved by the above-mentioned order of the Ministry of Finance. This right is granted in paragraph 4 of Art. 6 of Law No. 402-FZ.

For more information about which commercial organizations have the right to use simplified accounting methods, including simplified financial statements, read ConsultantPlus. Trial access is available for free.

IMPORTANT! Organizations that fall under the criteria of small businesses, but are subject to mandatory audit, are prohibited by law from reporting using simplified forms (Clause 1, Part 5, Article 6 of Law No. 402-FZ).

All necessary information about statutory audit can be found in the article “Standard audit - main criteria”.

How does a newly created organization pay advance income tax payments?

Payment of advance payments for income tax by a newly created organization depends on the procedure for calculating tax and advance payments. The newly created organization pays advance payments in one of the following ways:

only quarterly;
monthly and quarterly, if its revenue exceeds 5 million rubles. per month or 15 million rubles. per quarter. In this case, payment of monthly advance payments begins after the first full quarter;
monthly, based on the actual profit received, if the inspectorate is notified about this in the month in which it was created.

The newly created organization pays quarterly advance payments based on the results of each reporting period (quarter, half-year, nine months) (clause 2 of article 285, clause 1 of article 287 of the Tax Code of the Russian Federation).

If you make quarterly advance payments, then the first reporting period for you will be the period from the date of state registration of the organization until the end of the corresponding reporting period (1st quarter, half a year, nine months).

You must transfer the quarterly advance payment (clause 1 of Article 287, clause 3 of Article 289 of the Tax Code of the Russian Federation):

for the first quarter – no later than April 28;
for six months - no later than July 28;
9 months – no later than October 28.

If the 28th falls on a weekend or non-working holiday, then the payment deadline is postponed to the next working day (Clause 7, Article 6.1 of the Tax Code of the Russian Federation).

For example, if your organization was created on April 12, then the first reporting period will be the period from April 12 to June 30. You must transfer the quarterly advance payment no later than July 28.

Please note that for organizations created in December, the first reporting period will be the period from the date of registration of the organization to March 31 of the following year. They must pay the advance payment no later than April 28 (clause 1 of Article 287 of the Tax Code of the Russian Federation, Letter of the Federal Tax Service of Russia dated January 26, 2011 N KE-4-3/).

See also: How to calculate quarterly advance payments for income taxes

monthly advance payments for income tax during the quarter only if the revenue exceeds 5 million rubles. per month or 15 million rubles. per quarter (clause 5 of article 287 of the Tax Code of the Russian Federation). There is no need to notify the inspectorate about the transition to paying monthly payments.

If the limit is exceeded before the expiration of the first full quarter, then you must pay the first monthly advance payment only from the month following the expiration of the full quarter from the date of state registration (clauses 2, 6 of Article 286 of the Tax Code of the Russian Federation).

What is a full quarter

A full quarter is understood as three full months (clause 4, article 6.1 of the Tax Code of the Russian Federation):

I quarter – January, February, March;

II quarter – April, May, June;

III quarter – July, August, September;

IV quarter – October, November, December.

If an organization is created on the first day of the first month of a quarter, then the first quarter (the one in which it was created) will already be complete.

For example, if you registered an organization in mid-April, and in May you exceeded the limit, then the obligation to pay monthly advances will arise starting in October (in the fourth quarter).

An example of payment of monthly advance payments by a newly created organization if the limit is exceeded before the expiration of the first full quarter

The Alpha organization was created in mid-April. Sales revenue amounted to:

in April – 1,500,000 rubles;
May – RUB 5,300,000;
June – RUB 3,500,000;
July – RUB 3,250,000;
August – 2,800,000 rubles;
September – RUB 1,500,000;
October – 2,700,000 rubles;
November – 3,500,000 rub.

The first reporting period for the Alpha organization is the period from the date of state registration to June 30. The organization must submit the first income tax return and transfer the amount of the advance payment by July 28.

Monthly advances must be paid after a full quarter (three full months) from the date of establishment of the organization.

The full quarter for the Alpha organization will be the third quarter. Therefore, based on the results of the third quarter, the organization should analyze monthly sales revenue in the context of each of the past months.

Since in May the organization’s sales revenue amounted to 5.3 million rubles, then from October the organization must pay monthly advance payments (clause 5 of Article 287, clause 6 of Article 286 of the Tax Code of the Russian Federation).

The fact that revenue for the third quarter was less than 15 million rubles does not matter.

The organization will have to pay monthly advance payments at least until four quarters have passed from the date of its creation (clause 3 of Article 286 of the Tax Code of the Russian Federation).

By October 28, November 28 and December 28, the organization will transfer monthly advance payments to the budget for October, November and December, respectively.

If you exceed the limit after the expiration of the first full quarter, then monthly advance payments must be made from the first month of the next quarter, and not from the next month, as is sometimes advised (clauses 1, 5, Article 287 of the Tax Code of the Russian Federation). This payment procedure is primarily due to the fact that the payment of monthly payments in certain months of the quarter (for example, only for the third month) is not provided for (clause 2 of Article 286, clause 1 of Article 287 of the Tax Code of the Russian Federation). In addition, you must submit a declaration reflecting the calculated and payable amount of monthly advance payments no later than 28 calendar days from the end of the reporting period (clause 3 of Article 289 of the Tax Code of the Russian Federation). In this regard, you must make advance payments from the first month of the quarter following the reporting period in which revenue exceeds RUB 5 million. per month or 15 million rubles. per quarter.

An example of payment of monthly advance payments by a newly created organization if the limit is exceeded after the expiration of the first full quarter

The Alpha organization was created in February. Sales revenue amounted to:

in February – 1,000,000 rubles;
March – RUB 1,200,000;
April – RUB 1,500,000;
May – 2,300,000 rubles;
June – RUB 3,500,000;
July – 2,800,000 rubles;
August – RUB 5,250,000;
September – 1,500,000 rub.

The first reporting period for the Alpha organization is the period from the date of state registration to March 31. The first full quarter for the organization will be Q2.

The revenue limit was exceeded in August (Q3). The organization must begin paying monthly advance payments from October (clause 5 of Article 287 of the Tax Code of the Russian Federation).

Please note that you can switch back to paying only quarterly advance payments when sales income for the previous four quarters is less than 60 million rubles. (Clause 3 of Article 286 of the Tax Code of the Russian Federation).

See also: Monthly and quarterly advance payments of income taxes paid during the quarter

monthly advance payments based on the actual profit received starting from the month in which it was created.

To do this, you must notify the inspectorate of advance payments based on the actual profit received in the month in which the organization was created.

You must pay the first advance payment no later than the 28th day of the month following the month in which the organization was created (clause 1 of Article 287 of the Tax Code of the Russian Federation). If this date falls on a weekend or non-working holiday, then the advance payment must be paid no later than the next working day (Clause 7, Article 6.1 of the Tax Code of the Russian Federation).

If you created an organization in December, then you will have to pay the first advance payment no later than February 28 of the next year (clause 2 of article 55, clauses 1, 2 of article 285 of the Tax Code of the Russian Federation, Letter of the Federal Tax Service of Russia dated January 26. 2011 N KE-4-3/).

See also: How to calculate monthly advance income tax payments based on actual profits

Results

Almost all legal entities are required to submit financial statements.
Failure to submit forms to regulatory authorities may result in hefty fines. Whether or not newbies submit balance sheets and other accounting reports for the current year will depend on the moment at which the enterprise was registered - before September 30 or after this date. The composition of financial statements largely depends on whether the legal entity is a small business or not. You can find more complete information on the topic in ConsultantPlus. Free trial access to the system for 2 days.