News

COVID-19 - Luxembourg: Deadline extension for approval and filing/publication of annual/consolidated accounts

COVID-19 - Luxembourg

By the Law of 22 May 2020, published on 29 May 2020 in Luxembourg’s legislative journal, Mémorial A (the ʺLawʺ), the Luxembourg parliament decided to extend by 3 months the deadline for filing/publication of annual accounts, consolidated accounts as well as the associated reports and the sanctions imposed on directors/managers, under the laws of (i) 10 August 1915 on commercial companies, and (ii) 19 December 2002 on the trade and companies registry as well as company accounting and annual accounts, both as amended. The Law entered into force on the date of its publication in the Mémorial A.

Moreover, companies defined in Article 8 of the Commercial Code and required to approve their annual/consolidated accounts (commercial companies, EIGs, EEIGs, etc.) are permitted to hold their annual general meeting within 9 months of the end of the financial year.

The Law’s scope is limited to annual general meetings, annual/consolidated accounts and associated reports the financial year for which ends at the end of the state of emergency, as extended, at the latest, and for which the deadlines for approval or filing/publication had not expired by 18 March 2020.

For example, a commercial company the financial year for which ends on 31 December 2019, will have until 30 September 2020 to approve its annual accounts, and until 31 October 2020 to file/publish its annual accounts and associated reports.


By Jean-Philippe FRANCOIS, Counsel – Attorney-at-law and member of DSM Avocats à la Cour’s Corporate / Mergers and Acquisitions team.

More

Posted by Communications Desk

2020-06-04 16:00:53