Why do you need to submit annual returns to CIPC? Private companies have to submit an annual return to CIPC on a yearly basis. What information should be provided? The information includes the annual turnover, who oversees the financial record keeping, and updating the contact details of the company. These figures in regard to the annual turnover is shared by CIPC to SARS, so it is very important to submit the correct figures. What happens if a private company does not submit annual returns to CIPC? When the annual returns are not submitted, CIPC will charge penalty charges. When the company fails to submit the annual returns, CIPC will deregister…