Companies that have not yet submitted their beneficial ownership information have until September 30, 2026, to complete the process, according to the Department of Registrar of Companies.
The requirement applies to companies covered by the Companies Act No. 7 of 2007 and earlier company laws, where beneficial owners existed when the 2025 amendment came into operation.
The requirement comes under Section 130H(1) of the Companies (Amendment) Act, No. 12 of 2025.
What do companies need to do?
Companies must submit details of their beneficial owners to the Registrar in the required form and manner.
The Registrar of Companies provides an online Beneficial Ownership System for these submissions.
For existing companies, the process uses BO 07, which requires companies to provide information such as the beneficial owner’s name, identification details, address, and nature of ownership or control.
The system also requires companies to complete the authorized person process before submitting beneficial ownership details.
Companies can access the Beneficial Ownership System through the Registrar of Companies website. The department also provides step-by-step guides for existing companies.
What are Penalties for non-compliance?
The Registrar has warned that companies that fail to meet the requirement within the stipulated period may face administrative penalties.
The amended Companies Act also sets out criminal penalties for certain breaches of the beneficial ownership provisions.
A shareholder, secretary or authorized person who contravenes or fails to comply with specified provisions can, upon conviction, face a fine of up to Rs. 1 million, imprisonment of up to 10 years, or both.
The deadline therefore gives company owners and their authorized representatives a limited period to check their beneficial ownership records and complete the required submission.
Companies that have already completed their submission can also use the Beneficial Ownership System to check their submission status and records.
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Last modified: September 17, 2026
