Key Compliance Deadlines for Sdn Bhd and LLP E-Guide - LPP temp
A LPP LAW FREE RESOURCE : E-GUIDES

Legal Guide on Key Compliance Deadlines for Sdn Bhd and LLP

Topics in the e-Guide

  • Annual Return or Annual Declaration
  • Audited Financial Statements & Directors’ Report
  • Accounting Records
  • Tax Filing Requirements
  • Employers’ Obligations

Abstract

Upon starting a business as an entrepreneur, either by way of incorporating a Sendirian Berhad (“Sdn Bhd”) or registering a Limited Liability Partnership (“LLP”), that is not the end of the story. 

There are many (possibly unlimited) skills to hone: many aspects of the business such as strategy, financial planning, sales and marketing and operations, networking, as well as employee management. 

Other than these skills that are required to be mastered by an entrepreneur, there are certain mandatory statutory compliance steps as prescribed by law and administered by the Company Commissions of Malaysia, or better known locally as Suruhanjaya Syarikat Malaysia (“SSM”). 

For your information, both Sdn Bhd and LLP are administered by the SSM. However, the governing laws for both types of business entity are different, namely the Companies Act 2016 (“CA 2016”) is for Sdn Bhds while the Limited Liability Partnerships Act 2012 (“LLP Act 2012”) governs all the LLPs. 

We have prepared this e-guide setting out several mandatory statutory compliance steps for both Sdn Bhd and LLP.

Responsibilities of Executor:

  • Apply for and extract the grant of probate.
  • Make arrangements for the funeral of the deceased.
  • Collect and make an accurate inventory of the deceased’s assets.
  • Settling the debts and obligations of the deceased.
  • Distributing the assets.

Note for Digital Executor:
If you wish to leave your digital assets to certain people in your Will, there are important steps that need to be taken to ensure that your wishes can be carried out:

  • Keep a note of specific instructions on how to access your username and password of your digital asset.
  • You are advised to store these private and confidential information in a USB stick, password management tool or write them down.
  • Please inform your executor or a trusted person of the whereabouts of the tools so that they will have access to your digital asset.