What is "Company's accounts" ?

The commercial companies are subject to fill their accounts and to publish them in the BOAL, in compliance with:

• The commercial code (article 717);
• The Law n°04-08 of august 14th, 2004 modified and completed by the law n° 13-06 of July 23rd, 2013 relating to the conditions of carrying out commercial activities;
• The Order n°10-04 of august 26th, 2010, modifying and complementing the Order n° 03-11 of august 26th, 2003 relating to the currency and credit;
• The Executive Decree n° 92-70 of February 18th, 1992 relating to the Official Bulletin of Legal Announcements (article 3 paragraph 4).
• The Law n° 20-16 of December 31, 2020 relating to the finance law for 2021 (article 119).

Legal filing of company accounts is obligatory

According to the provisions of the commercial code, filing company accounts at the CNRC comes within the scope of the obligation of legal publicity:

• For commercial companies : in compliance with the article 717 paragraph 3 " the company accounts mentioned in the first paragraph, are subject to filing at the National Center of the Trade Register after one month of their adoption by the General Assembly. This filing is a publicity ".
• For banks and financial institutions : in compliance with the article 103 of the Order n°10-04 of august 26th, 2010 modifying and complementing the Order n° 03-11 of august 26th, 2003 relating to the currency and credit.

Who is concerned by the accounts filing?

At the end of every financial year all commercial companies (legal entities) cited below must publish their accounts, in particular:

• Joint Stock Companies (SPA);
• One-Person Liability Companies (EURL);
• Limited liability Companies (SARL);
• General Partnership Company (SNC) ;
• Limited Partnership Company (SCS) or by shares;
• Banks, financial institutions and branches of foreign banks registered in the Trade Register. These last are governed by the Order n°03-11 of august 26th, 2003 relating to the currency and credit.

However, the companies created within the framework of youth employment support measures are not subject to pay fees of company accounts legal filing, for the three (03) years following their inscription in the Trade Register.

The newly registered companies in the Trade Register are not subject to company accounts legal filing for the first year of their registration in the Trade Register.

Companies which are not concerned by the legal filing :

• Branches of foreign companies established in Algeria;
• Groups of companies;
• Communal public company and public company of Wilaya.

The filing and publication of company's accounts give rise to the issuance of certificate.

Where, when and how to file company's accounts?

Following the decentralization of legal publicity procedures which became operational from January 2007, every commercial company is subject to accounts' filing formality at the CNRC local office of the Wilaya where implanted the headquarters of the company.

The CNRC has provided all appropriate means at all its 50 local offices to complete successfully this operation.

What is the period of filing accounts?

• Commercial company :

The legal filing of company's accounts must be done within the month dating from the holding of the meeting of General Assembly deciding on the company's accounts (article 717 paragraph 3 of commercial code).

Furthermore, the meeting of the General Assembly deciding on the company's accounts must be held during the period from 01 January of the year that follows the concerned financial year closing, till 30 June of the same year. This date 30 June remains the deadline for holding the Assembly.

This being so, it is imperative to take into account that the companies have a period of one (01) month from the meeting date to file the accounts at the CNRC. This implies for example:

The company that has held its meeting on 12 April must file their accounts at the CNRC during the period from 12 April till 12 May which is the filing deadline date.

• Financial institution and bank :

Differently from commercial companies, the financial institutions and banks have a period of six (06) months from the date of the concerned financial year closing, till 30 June of the same year. This date 30 June remains the deadline for filing accounts.

However, the filing accounts period can be extended for commercial companies on an order issued by the court territorially competent (article 676 of commercial code) or on a special exemption from banking commission for financial institutions and banks (article 103 of the Order n° 03-11 of august 26th, 2003 relating to the currency and credit).

The file must contain the following documents:

For commercial companies:

• One (01) copy of ordinary general meeting minutes ( in Arabic and in French);
• One (01) copy ( in Arabic and in French) of the following tables:
  • Assets, Liabilities, Income statement.
• Eligibility certificate for companies created within the framework of youth employment support measures.

Banks and Financial Institutions must file in addition to the tables mentioned above, the following documents:

• Off-balance sheet;
• Cash- flows treasury statement;
• Changes in equity statement;
• Annex.

These tables reflect, in addition to the Minutes of General Assembly deciding on the concerned financial year accounts, the real financial situation of a commercial company.

The tariffs of publication are fixed by the Ministerial Order of May 11st, 2015 fixing the applicable tariffs by the Nation Center of the Trade Register in matter of the keeping trade registers and the legal publicity.

Failure to carry out publication of company's accounts ?

The legal filing of company's accounts is an obligation that must be carried out in the fixed period, in accordance with provisions of commercial code.

The non-filing of company's accounts at CNRC exposes its author to the penalties provided by the legislation in force (Article 35 of law N° 04-08 of August 14th 2004, modifying and completed, and Article 29 of the supplementary financial law 2009).

However, All commercial companies subject to accounts filing formality and haven't completed it in the required time, can fulfill this formality on presentation of receipt justifying the payment of transactional fine or the fine pronounced by a judge, in compliance with the article 35 (b) of law n° 13-06.

Otherwise, these contravener companies will be registered in the National Fraudsters File, according to the article 29 of the supplementary financial law 2009 which stipulated that "the inscription in the National File of fraudsters and perpetrators of grave breaches of fiscal customs and commercial legislation and regulations, and companies which have not filed their accounts, gives rise to the following measures:

• Exclusion from fiscal and customs benefits relating to the investment promotion;
• Exclusion from facilitation measures accorded by fiscal, customs and commerce administrations;
• Exclusion from trending for public contracts;
• Exclusion from foreign commerce operations" .