Kano, the commercial capital of Northern Nigeria, is a major business hub with thousands of registered businesses and companies. Whether you own a trading company, manufacturing firm, or service-based enterprise, filing your annual returns with the Corporate Affairs Commission (CAC) is a legal obligation that ensures your business remains active and compliant.
This guide explains how businesses in Kano can file their annual returns through an accredited CAC agent, the costs involved, penalties for late filing, and how to avoid compliance issues.
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Overview of Business Compliance in Kano
Kano has a thriving economy, with businesses spanning industries such as agriculture, textile, trade, and manufacturing. However, many business owners mistakenly assume that filing tax returns with the Federal Inland Revenue Service (FIRS) is the same as filing annual returns with CAC.
Key Difference:
FIRS tax returns relate to income tax obligations.
CAC annual returns confirm that a business is still active and legally compliant.
Failure to file annual returns can lead to penalties and possible business deregistration.
What Are Annual Returns?
Annual returns are mandatory yearly filings required by CAC for all registered businesses and companies. They ensure that a business is still operational and that CAC records are up to date.
Key Points to Note:
Annual returns must be filed every year after the first 18 months of registration.
Only accredited CAC agents can file annual returns—business owners cannot do it directly.
Failure to file on time results in penalties and potential deregistration.
Why Is Filing Annual Returns Important in Kano?
Legal Compliance: Keeps your business in good standing with CAC regulations.
Avoidance of Penalties: Late filing attracts financial penalties that increase over time.
Business Credibility: Investors, banks, and clients check CAC records before engaging with a company.
Uninterrupted Operations: Non-compliance can make it difficult to update business records or obtain CAC documents.
CAC Filing Process for Businesses in Kano
Since only accredited CAC agents can file annual returns, businesses in Kano must follow these steps:
- Engage a CAC-Accredited Agent
Choose a reputable agent, such as cacannualreturns.com, to handle the filing.
- Provide Necessary Information and Documents
CAC Registration Number
Business Name or Company Name
Updated company details
Financial statements (for limited liability companies)
- Payment of Filing Fees and Charges
Business Name: ₦3,000 (late filing penalty: ₦5,000).
Limited Liability Company: ₦5,000 or more, depending on share capital (late filing penalty: ₦5,000 per year of default).
Agency Fee: ₦5,000 (for processing and filing via an accredited agent).
- Submission & Confirmation
The agent submits the filing to CAC.
CAC updates the business’s status and provides confirmation.
Common Challenges in Filing Annual Returns in Kano
Lack of Awareness: Many business owners do not know annual return filing is mandatory.
Network and Portal Issues: CAC’s online platform sometimes experiences downtime.
Incorrect Information: Filing with incorrect details can lead to rejection and delays.
Delays in Processing: High demand may cause CAC processing delays.
How to Avoid Penalties and Late Fees
File on Time: Avoid penalties by ensuring annual returns are filed promptly.
Use a Trusted CAC Agent: Accredited agents ensure correct and smooth filing.
Keep Business Information Updated: Ensure CAC records reflect accurate company details.
Where to Get Help for Filing Annual Returns in Kano
CAC Kano Office: Located at No. 8B, Murtala Mohammed Way, Kano.
Accredited CAC Agents: Businesses should work with professionals for stress-free filing.
Online Assistance: Visit cacannualreturns.com for quick and reliable filing services.
FAQs on Filing Annual Returns in Kano
Q: Can I file my annual returns myself?
No, only accredited CAC agents are authorized to file annual returns.
Q: What happens if I don’t file my annual returns?
Late filing attracts penalties, and prolonged default can lead to business deregistration.
Q: How much does it cost to file annual returns in Kano?
Business Name: ₦3,000 (late filing penalty: ₦5,000).
Limited Liability Company: ₦5,000+ (late filing penalty: ₦5,000 per year of default).
CAC Agent Processing Fee: ₦5,000.
Q: Can I still file if I have missed multiple years?
Yes, but penalties will apply for each year missed before you can update your records.
Conclusion
Filing annual returns is an essential legal requirement for businesses in Kano. To avoid penalties and ensure compliance, business owners should file on time through an accredited CAC agent.
Need assistance? Visit or call us at cacannualreturns.com today for professional help in filing your annual returns quickly and correctly.
Adebayo Oluwole is a seasoned chartered accountant and a member of Chartered Institute of Taxation of Nigeria with over twenty years of experience. His expertise cuts across accounting, auditing and taxation. He has helped hundreds of individuals translate their dreams into reality by offering them pre and post registration services. His focus is to help SMEs grow in the marketplace.