Mandatory Shareholders Meeting for 2024 Financial Statement: Deadline April 30th

Shareholders of corporate entities, including corporations and limited liability companies, must call an ordinary general meeting or shareholder meeting, depending on the entity type, to deliberate on the management accounts and financial statements for the 2024 fiscal year. This must be done within the first four months of the year, by April 30, 2025. Corporations are required to make documents such as the management report, financial statements, and opinions from independent auditors and the fiscal council available to shareholders 30 days prior to the meeting. Limited liability companies with significant revenue are no longer obligated to publish their financial statements for the shareholder meeting, following recent legislative changes.

Failure to approve the financial statements may lead to significant limitations, including the inability to participate in public tenders, restrictions on financial contracts, and the impossibility of initiating judicial or extrajudicial recovery processes. While the law does not impose direct penalties, non-approval can disrupt business operations. Our team is available to assist with organizing the meetings and provide guidance on the 2024 fiscal year accounts approval process.