Unlimited Companies – Changes to Filing Rules

PUBLISHED: 10th October 2022

Updated filing rules for private Unlimited Companies (ULCs) that have limited liability subsidiaries (regardless of where those subsidiaries are registered) were introduced for financial reporting periods commencing on or after 1 January 2022.  

Those ULCs are now required to file financial statements with the CRO.

Previously, ULCs were only required to file financial statements with the CRO if: (i) they were a subsidiary of a limited liability undertaking, or (ii) all the shares in the ULC are held directly or indirectly by a limited liability undertaking.  The filing requirements have now been extended to include ULCs, referred to as “designated ULCs”, that were a holding company of a limited liability undertaking during the financial year commencing on or after 1 January 2022.

ULCs should examine their group structure to determine if the ULC now falls within the definition of a designated ULC and is subject to the new filing rules.

If you require assistance or advice in relation to any of the above matters, please contact our experienced Company Secretarial and Corporate Governance team.

Colm Hanley at chanley@lkshields.ie
Michelle Howe at mhowe@lkshields.ie
Patricia Kelly  at pkelly@lkshields.ie
Meadhbh Nolan at mnolan@lkshields.ie  

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