If you’re running a business in Singapore or planning to start one soon, staying updated with ACRA (Accounting and Corporate Regulatory Authority) requirements is essential. ACRA regularly fine-tunes its regulations to keep up with evolving business practices, enhance transparency, and make compliance smoother. As we move through 2025, several important updates have come into play — and missing them could mean penalties or missed opportunities.
Here’s a quick look at the top ACRA updates you need to know this year:
1. New Filing Requirements for Small Companies
Starting from January 2025, certain small companies can enjoy simplified financial reporting requirements. If your company qualifies as a “micro-entity” — meaning it meets updated thresholds for revenue and total assets — you can now submit abridged financial statements. This change reduces compliance costs and paperwork for small businesses.
Tip: Check if your company qualifies under the new micro-entity definition before your next filing.
2. Stricter Enforcement on Annual Return Deadlines
ACRA is tightening its enforcement on late filings of annual returns and financial statements. Penalties have increased, and companies that repeatedly file late may now face higher fines and even risk being struck off the register.
Tip: Set automated reminders for all ACRA deadlines to avoid unnecessary fines!
3. Enhanced Transparency for Beneficial Ownership
ACRA has rolled out stricter regulations requiring companies to maintain accurate and up-to-date Registers of Registrable Controllers (RORC). If there are changes to beneficial owners, companies must update their internal records and ACRA filings within 2 business days.
Tip: Review your company’s RORC information now and update any outdated records.
4. Mandatory Use of Singpass for All BizFile+ Transactions
From mid-2025 onwards, all transactions on BizFile+ must be conducted using Singpass authentication. This move strengthens cybersecurity measures and ensures that only authorized individuals act on behalf of a company.
Tip: Ensure that all your company officers and authorized personnel have active and verified Singpass accounts.
5. Sustainability Reporting Pilot Program
In line with Singapore’s Green Plan 2030, ACRA and SGX RegCo have introduced a pilot program encouraging certain sectors to submit voluntary sustainability reports. While not mandatory yet, businesses participating in the pilot may enjoy incentives and enhanced credibility with investors.
Tip: Start thinking about how your business can track and report environmental and social impacts.
Final Thoughts
ACRA’s 2025 updates show a clear push towards greater transparency, digital security, and sustainability. Staying informed and compliant doesn’t just keep your business out of trouble — it also builds credibility and trust with customers, investors, and partners.
Need help staying compliant with the latest ACRA changes? Check out our website at https://ebos-sg.com/ to explore more articles and discover how our Cloud Accountant Services can support you on your business.
