Annual accounts

The annual accounts consist of an income statement, a balance sheet, notes and — for larger undertakings — a cash flow statement and a directors' report. They are adopted by the general meeting and filed with the Register of Company Accounts in Brønnøysund.

The deadline follows the general meeting, which must be held within six months of the year end. For a company on the calendar year that means the accounts are due by the end of July. If they do not arrive, late-filing fees accrue, and ultimately the company can be compulsorily dissolved for failing to file.

Not everyone must file. Sole proprietorships below certain thresholds are not subject to the Accounting Act, and small undertakings may opt out of an audit. A company with no filed accounts is therefore not necessarily a company hiding something.