What is the deadline to send financial statements to members?
A private company must circulate its financial statements to members within six months after its financial year end. A public company must circulate them at least 21 days before its annual general meeting, which must be held within six months of year end. Late circulation is an offence with a fine of up to RM50,000.
Section 258 of the Companies Act 2016 sets how long a company has to send the statements out:
- Private company: within six months of its financial year end
- Public company: at least 21 days before the date of its annual general meeting (shorter notice is possible if all members entitled to attend and vote agree), with the AGM held within six months of the year end under section 340
"Circulate" means sending to each member the financial statements and reports, including the directors' report and the auditor's report (if any) (section 257). For a private company, the circulation date also starts the 30-day clock for lodging with SSM.
Example: for a 31 December year end, a private company circulates by 30 June.
Working backwards from the deadline:
- Close the books within a month or two of year end
- Complete the draft statements and review
- Hold the audit (if required)
- Directors approve and sign
- Circulate and then lodge with SSM
Penalty. The company and every officer who contravene section 258 commit an offence, with a fine of up to RM50,000 and, for a continuing offence, a further fine of up to RM500 for each day it continues after conviction (section 258(3)). Failing to send copies under section 257 carries a fine of up to RM50,000.
An extension of time for lodgement is only possible by applying to SSM before the period expires (section 259(2)), and it is not a given.
Legal basis
- Companies Act 2016, s.257
- Companies Act 2016, s.258
- Companies Act 2016, s.340(2)
Sources
Applies to 2026 · Last reviewed 29 October 2026
General information for business owners, not legal, tax or professional advice. Rules change, so check the sources or ask a licensed professional before you act.
Related questions
- When must financial statements and the annual return be lodged with SSM?A private company lodges its financial statements with SSM within 30 days after circulating them to members; a public company within 30 days of its AGM. The annual return is a separate filing, due within 30 days after the incorporation anniversary. Late filing is an offence.
- How long must a Malaysian company keep its accounting records?A company must keep accounting records for seven years after the transactions they record were completed. For tax, documents must be kept for seven years from the end of the relevant year of assessment. Use whichever period ends later.
- How soon must transactions be recorded in the books?Under section 245 of the Companies Act 2016, entries must be made in the accounting records within 60 days after the transaction is completed. Leaving the books for a full year-end rush is therefore not compliant.
- How do I choose my company's financial year end?You choose it, usually when you incorporate, and it is not fixed to 31 December. Pick a date that suits your business cycle and your accountant's workload; every later deadline for financial statements and filings is counted from it.
- Can a company change its financial year end, and how?Yes. The Companies Act 2016 does not state a maximum length for a financial year or how often it can change. But a new year end that pushes the circulation or lodgement date later needs an extension of time from SSM, applied for before the original deadline. A subsidiary's year end must also stay in line with its Malaysian holding company's.