The PRH orders company to file financial statements under penalty of a fine

The PRH can request your company to file its financial statements or complete its incomplete financial statement documents under penalty of a fine, if your company has not filed all of its financial statement documents with the Trade Register within the time limit. See time limits by company type.

File the financial statements within the time limit given by the PRH so the person responsible for the company avoids the penalty payment. Go to our instructions: How to file financial statements with the Trade Register.

The penalty fine is ordered for the person responsible for the company and the amount depends on their income. The penalty is 3 300 euros maximum.

If your company fails to file its financial statements despite the penalty fine, the PRH can order your company into liquidation or remove it from the Trade Register. Read more about the deregistration procedure.

We do not grant more time to file the financial statement documents.

Penalty payment procedure

  1. The PRH sends a request letter and gives your company two weeks to file the requested financial statements under penalty of a fine.
  2. If your company fails to file its financial statements within the time limit, we will send a decision about the penalty payment to the person responsible for your company and request them to file the financial statements with the PRH within two weeks. We send the decision on setting the penalty payment to the post office as a letter with advice of delivery.
  3. If your company fails to file its financial statements within the given time, the PRH will send a reminder to the person responsible for your company. The time limit given on the reminder is two weeks.
  4. If your company fails to file its financial statements within the given time limits, we will order the person responsible for your company to pay a penalty payment. The decision on imposing the penalty payment is delivered by a process server. The decision is appealable. The appeal period is 30 days.
  5. If your company fails to file its financial statements after the process above, the PRH can order your company into liquidation or remove it from the Trade Register.

Go to our instructions: How to file financial statements with the Trade Register.

See the legislation for more information

The obligations to notify and register financial statements as well as the penalty payment procedure are regulated in the following acts:

  • Accounting Act, Chapter 3, section 9 and Chapter 8, section 1;
  • Limited Liability Companies Act, Chapter 5, section 3 and Chapter 8, section 10; and
  • Co-operatives Act, Chapter 5, section 4 and Chapter 8, section 10.

Read more about the Accounting Act in the reference database of Finnish legislation Finlex (available in Finnish and in Swedish).

Read more about the Limited Liability Companies Act in the reference database of Finnish legislation Finlex (available in Finnish and in Swedish).

Read more about the Co-operatives Act in the reference database of Finnish legislation Finlex (available in Finnish and in Swedish).

The penalty payment procedure is also regulated in sections 6–8 and 10–11 in the Act on Conditional Fines. Read more about the Act on Conditional Fines in the reference database of Finnish legislation Finlex (available in Finnish and in Swedish).

Appeal of decisions is regulated in section 7(1) in the Act on Finnish Patent and Registration Office. Read more about the Act on the Finnish Patent and Registration Office in the Finnish legislation database Finlex (available in Finnish and in Swedish).


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Latest update 17.06.2020