Companies that have not submitted their Beneficial Ownership information are being urged to act immediately, after the extended deadline expired on October 21, 2026.
The Registrar General of Companies has issued a final warning to affected companies. Continued failure to comply could lead to legal action, including a fine of up to Rs. 1 million or imprisonment for up to 10 years.
Companies with outstanding information should now submit and regularize their records through the department’s Beneficial Ownership System.
Deadline Has Already Expired
The original deadline for submitting Beneficial Ownership information was September 30, 2026. Authorities later extended it to October 21. That extended deadline has now passed. In a notice issued on October 28, the Registrar General urged companies that have not complied to complete the process without further delay.
Beneficial Ownership information identifies the individuals who ultimately own or control a company. This information helps authorities improve corporate transparency and accountability.
Legal Penalties for Continued Non-Compliance
Failure to meet the statutory Beneficial Ownership requirements is an offence under the Companies Act, No. 7 of 2007, as amended by the Companies (Amendment) Act, No. 12 of 2025.
Companies that continue to ignore the requirement could face legal action and penalties prescribed by law. Where applicable, these can include a fine of up to Rs. 1 million, imprisonment for up to 10 years, or both.
For company owners and directors who have not yet completed the requirement, the immediate step is to submit the outstanding information through the Beneficial Ownership System. The Registrar General has stressed that companies must ensure immediate compliance with the legal requirements.
How to Submit Beneficial Ownership Details?
Existing companies can submit their Beneficial Ownership information through the Department of the Registrar of Companies (DRC) system.
1. Sign In to the BO System
Go to the BO System and sign in using the email and password registered with eROC.
Users should select the appropriate role, such as Company User or General Public User.
2. Open the Company Dashboard
Company Users can use the dashboard to view their company profile, status and submission history.
Select “Manage Authorized Person” to begin the BO 05 process.
3. Complete the BO 05 Submission
Complete the Authorized Person Declaration and check the summary details.
Next, download the declaration, print and sign it. Scan the signed document and upload it to the system before adding the submission to the cart.
4. Submit Beneficial Owner Details Through BO 07
Enter the required information about each beneficial owner, including citizenship, personal details and address.
Companies must also provide details on the nature and extent of ownership. This can include direct ownership, indirect ownership or effective control through voting rights, veto powers or key management positions.
After checking the summary, download the document, sign it, scan it and upload the signed copy. Then add the submission to the cart.
5. Pay and Complete the Submission
Review all items in the cart and select the preferred payment method.
Complete the payment process to finalise the submission. Once completed, the system will provide an official submission confirmation and an acknowledgement reference number.
Company owners who have not yet completed the Beneficial Ownership requirement should use the DRC system to regularise their outstanding information without further delay.
Link for video explanation by eRoc
Economic & Regulation Public Notice
Last modified: October 31, 2026
