All enterprises with an accounting obligation shall submit their accounts to the Register of Company Accounts in Brønnøysund. The only exception to this rule is Norwegian-registered foreign enterprises with a turnover of less than NOK 5 million that are engaged in activity on the Norwegian continental shelf or in temporary onshore activity in Norway. For Norwegian-registered foreign enterprises (NUFs) with a reporting duty in Norway, both the branch accounts and the accounts of the foreign enterprise must be submitted.
The duty to prepare and submit annual accounts apply even if the entity is inactive, also for entities being would up until their registration is finally deleted.
The following documents must be submitted:
- The accompanying letter 'Enclosure with the annual accounts'
(not when submitting via Altinn)
- Annual report
- Income statement
- Balance sheet
- Notes to the accounts
- Cash flow statement (not for small enterprises)
- Auditor's report (if the auditing obligation applies)
More requirements apply if the entity is the parent company in a group and obligated to submit group accounts.
The easiest way to submit the annual account is electronically via Altinn. If you choose to submit on paper, you must also attach the accompanying letter 'Enclosure with the annual accounts'.
The board has a duty to ensure that the accounts are submitted by the deadline. If the entity has no board, the partners/members or general manager is responsible for this.
The annual accounts shall be submitted within a month after they have been adopted by the competent body (the annual general meeting in limited companies).
In order to avoid a penalty charge, the complete annual accounts must be submitted no later than 31 July on paper, whilst the deadline is no later than 31 August for electronic submission via the Register of Company Accounts’ forms on Altinn. For entities with completion date during the period from 1 January to 30 June, the corresponding deadlines are no later than 31 January and before 1 March.
If the complete annual accounts are not submitted to the Register of Company Accounts before the deadline, you have to pay a penalty charge.
The accounts will be returned to the registered address if any of the required documents are missing. Any lacking information by electronic submitting, will be notified by letter to the entity, through the entity’s message box in Altinn and by e-mail to the entity’s registered e-mail address. Documents on paper must be suitable for photocopying (preferable in A4 format and black-and-white). This is important so that the Brønnøysund Register Centre can provide interested parties with readable copies.
If the accounts are not submitted in time, a penalty charge will be incurred. Once the penalty charge starts to run, it will accrue until the Register of Company Accounts has received the complete annual accounts or for a maximum of 26 weeks. The Register of Company Accounts cannot grant extension of the deadline.