Estonian Company Annual Report Submission Service & Filing Guide

It is binding for all Estonian businesses to submit an annual report to the Business Register once a year. Both active and inactive businesses have the annual accounting obligation, as it is required for legal compliance, financial transparency, and a good business reputation. Non-compliance with the deadline will results in penalties or, in the worst case, involuntary dissolution of the business.

Estonian Company Annual Accounts

At Eesti Firma, we understand how important annual disclosure is for your business. For that reason, we can provide complete accounting and bookkeeping solutions that ensure your financial reports are completed correctly and filed in a timely manner. With our assistance, you are going to avoid common reporting mistakes and focus on what matters most—running your business.

It may become intricate to fulfill the regulatory requirements for annual reporting, but you are not on your own. Having vast experience in Estonian accounting legislation, we ensure that your full annual accounts are drafted and filed in compliance with all legal requirements

Making Reporting Simple and Stress-Free with Eesti Firma

We handle everything, from preparing basic reports and detailing the company’s operating results to ensuring that other economic transactions are properly recorded. Whether your company is a micro-enterprise, a small-scale enterprise, or among the inactive businesses, we tailor the filing process to meet the relevant standards.

Submit your Annual Report Filing

We are going to process your company’s annual statement so that you are never going to have to think about deadlines or compliance. Timely and correct reporting keeps your business in good standing and avoids unnecessary risk.

Annual Report Submission Services — Starting from €150

Our accountants are going to make sure this is done correctly and in due time for as low as €150. We manage every detail so you can concentrate on expanding your business without the burden of administrative paperwork.

Why Choose Eesti Firma?

✅ Full Compliance — Reports aligned with the Estonian Accounting Act and GAAP/IFRS standards.
✅ Zero Stress — We handle filings, language requirements, and e-signatures.
✅ Timely Submission — Avoid penalties with guaranteed on-time delivery.
✅ Transparent Pricing — tarting at €150 for dormant companies, with bespoke pricing for active firms.

Let us manage your annual reporting while you focus on growing your business.

📅 Get Started in 2 Minutes:

✔️ Share basic details about your company.
✔️ We prepare and submit your report.
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We work with each client on an individual basis, guaranteeing full statutory compliance along with adherence to local accounting standards. But we do more than just ‘form’: we try to present your statements in a form that is going to be clear, informative, and useful to you in a better view of your company’s financial position and good business decisions.

Below, we provide an overview of the key points related to financial reporting of Estonian companies: the requirement to file, the deadline, the fine for late submission, some practical tips on how to make this process easier and less costly, a brief description of the format of the report, and how our service can help with accuracy and timely compliance.

Importance of Financial Disclosure for Estonian Entities

Financial reports must be submitted on time to ensure a company’s good standing and compliance with regulatory requirements. These reports provide true and fair view on the company’s bank account status, revenue earned, and results of operating activities. Structured reporting on the financial position enables authorities, investors, and other stakeholders to assess compliance with the law and stability, what is in the public interest.

This structured approach ensures that businesses operate transparently and stay accountable. The key reason for financial disclosure in Estonia is to make authentic and accurate records of the financial statements available to the stakeholders and authorities, which is going to help them in correctly assessing financial viability, compliance, and sustainability of the company.

Compliance with Estonian Accounting Standards

All companies should follow the Estonian Accounting Act and Commercial Code which sets the standards for annual reporting. Depending on the size and structure of the business, companies apply either International Financial Reporting Standards or Estonian Generally Accepted Accounting Principles, respectively, according to the Estonian Association of Accountants.

Components of an Annual Financial Report

The annual statement is a quite comprehensive financial statement showing the performance of a company during the fiscal year and company’s operating results. This systematically gives an overview of assets, liabilities, revenues, and cash flows ensuring that the fiscal information has been well-documented and presented.

Annual reports should be filed in Estonian language in accordance with Estonian Accounting Act and the IFRS or the Estonian GAAP, depending on the size, organizational structure, and economic activity of a company.

This report, other than in terms of regulatory compliance, helps businesses in tracking financial development, measuring operational efficiency, and supports strategic decision-making. A complete annual statement typically includes a number of key financial reports, all of which provide different insights into the company’s financial activities:

Core Financial Statements

These principal financial statements give an orderly view for ascertaining the financial health of an organization to make informed decisions. Each of these statements reflects different aspects of its performance. So, full annual report consists of following basic reports:

Balance Sheet

This statement provides a moment view of the financial situation of the business at the end of the fiscal year. It provides a clear view of the company’s financial soundness and general situation by including its assets, liabilities, key entries and equity.

Income Statement

This report shows the company’s earnings and expenses over a given period, therefore exposing whether or not the business has made a net profit over that period.

Cash Flow Statement

This statement tracks company’s cash flows inside the business, the cash flow statement divides it into operational, investment, and financing activity. It offers understanding of the company’s liquidity and financial situation by showing how cash has been created and applied.

Statement of Changes in Equity

This document outlines changes in the company’s equity over the reporting period. It covers specifics that affect shareholder equity including capital raises, dividend payouts, retained earnings, and other changes.

Supporting Documentation

In addition to the aforementioned basic financial statements, businesses should include ancillary disclosures that give an extended view of financial performance and reporting methodologies:

Business Activity Report

The operations, significant events, and business strategy of the company throughout the reporting period are given in this paper. It points out important changes and shows the strategic orientation of the business.

Financial Reporting Standards Applied

This part lists the accounting systems applied to produce the financial statements, either Estonian Generally Accepted Accounting Principles (GAAP) or International Financial Reporting Standards (IFRs).

Accounting Policies and Principles

Here the corporation outlines the particular measuring bases, assumptions, and accounting techniques used in creating the yearly financial statements. This guarantees regularity and openness in financial reporting.

Explanatory Notes

These comments offer more background and specifics regarding important financial events, changes in the company’s financial situation, and significant reporting period corrections. They provide better understanding of the company’s performance and assist to clear the financial accounts.

By drawing up a well-organized annual statement, companies are going not only to fulfill the legal and accounting requirements, but also to develop a more thorough overview of their financial path. This facilitates better decision-making ana enhances economic planning.

What is a Financial Year?

Financial year is a standard accounting period, during which each company does its bookkeeping, reporting, and settlement of its taxes. This provides unity in terms of financial operations and controls that the companies work within the law.

In Estonia, financial year constitutes a period of 12 months and usually runs within the limits of the calendar year, starting from January 01 to December 31.

The annual accounts period falls concurrently with the financial year for proper reporting of tax, financial planning, and regulatory submissions. Furthermore, this places all the transactions in proper books and helps these companies stand up realistically and fulfill their obligations on a timely basis.

Newly created entities registered during the second half of the year may report for a shorter period or bring the first months of activity together and connect them with the following full year.

Annual Disclosure Deadlines in Estonia

Under § 179 of the Commercial Code of the Republic of Estonia, all enterprises in Estonia are required to submit an annual financial report within six months after the end of the financial year. Annual accounts should reflect activities relating to the enterprises’ business and their financial results for the period covered by the report

The due date for filing an annual financial report with the supervisory authorities is June 30 of the subsequent year. On-time presentation is important for compliance, avoidance of fines, and maintenance of companies in good standing with Estonian authorities.

Consequences of Missing the Deadline

Delaying the submission date of the annual financial report may be subject to various types of punishment. Minor delays are unlikely to create any immediate crisis; however, the Commercial Register Act considerably provides the authorities with far-reaching rights of enforcement.

• Warning of a fine: The Commercial Register usually sends a warning and gives additional 30 days for filing. Everything is in order if the report is submitted correctly within this period.
• Fine for the company: In case of failure to submit the report in the extended deadline too, a fine amounting to a maximum of €3,200 may be imposed. Even after making the fine, the company remains under the obligation to file the financial report.
• Fine for management: The bill also provides that fines may be imposed on board members, when there is an omission in submitting the annual report in due course.
• Warning of removal: The Commercial Register may give a notice concerning the potential removal of the company from the register in case the company does not comply even after having received warnings.
• Forced striking off: If all the aforementioned steps are not effective and the company still does not file annual accounts, then the authorities may forcibly remove the entity from the Commercial Register.

Timely filing with the support of a professional at each stage not only saves the reputation of your business, but keeps operations smooth without letting the business credibility suffer.

How to File Your Annual Report

There are two possible ways to submit an annual report in Estonia: entirely online by yourself via the Estonian e-Business Register or having professionals accountants take care of all the details.

Filing by Yourself

If you are familiar with the Estonian accounting requirements and feel able to gather all necessary paperwork, you can file yourself:

1. Draft Your Report in Estonian: It is required that the official annual report of a legal entity must be in Estonian. You can certainly provide an English translation if you like, but it is the Estonian version that is going to be used by the officials.
2. Ensure a Board Member has an Estonian E-Signature: For an online submission of your report using the company registration portal, at least one board member should hold a valid Estonian electronic signature (ID-card, Smart-ID, or e-Residency).
3. Access the Estonian e-Business Register: You are going to file and upload your report through the web-based environment. It is very user-friendly and accepts online filings, including by e-Residents.
4. Submit Your Report: When your documents are ready, and one of your board members is able to digitally sign them, then everything may be filed through the e-Business Register.

If you are not fully confident in handling entire process, hiring a professional may be wiser, so you can avoid costly mistakes.

Hiring a Professional Accountant

Estonian accounting regulations are very complex; that means costly mistakes may be made easily. A professional accountant is going to smooth the entire reporting process, enabling you to focus on your business.

For companies without a board member possessing an Estonian electronic signature, hiring an accountant is even more essential:

1. Providing All the Relevant Documents: Send ll the necessary financial records (bank statements, invoices, and other documents) to your accountant.
2. Drafting the Report: Your accountant prepares a financial report with the assurance that it adheres to the compliance requirements.
3. Signing the Report: In case of an Estonian e-signature through an ID card, Smart-ID, or e-Residency being available with you, the signature may be made digitally; otherwise, physical signature and scan and sending by an accountant are needed.
4. Filing with the Business Register: Once signed and finalized, the report is filed with the Estonian Business Register by the accountant.

You may be sure that with a professional accountant, all your work regarding the annual report filing is in good hands. This comes in handy when your team does not have an Estonian e-signature or if you would rather avoid dealing with all the complexities of local accounting rules.

Checklist: What to Provide to Your Accountant

In Estonia, it is very important that all accounting records are thoroughly collected and maintained throughout the year in order to compile an annual report that is compliant. This not only helps your accountant complete a compliant report, but also reduces the risk of errors, delays, and any ensuing penalties.

Here is a detailed list of what you should provide to your accountant when the time comes to prepare the annual report:

• Brief Description of your Company’s Business: Give a short description of your operations, including how you buy and sell.
• Bank Statements: Provide complete bank statements for the whole financial year in PDF and the spreadsheet format (XLS or CSV).
• Purchase Invoices and Receipts: Please provide all the purchase invoices and receipts.
• Sales Invoices and Receipts: Provide all the sales invoices and receipts for the fiscal year. g each sales entry against a corresponding payment record.
• Uninvoiced Transaction Supporting Documents: In case that any of such transactions are not supported by usual sales or purchase invoices – attach other documents (such as contracts or agreements) supporting those transactions.
• Loan Agreements: If you have loans that you have not repaid, provide the relevant contracts to your accountant.
• Investment Portfolio Statements: Investment-held companies should report statements showing portfolio activity and balances during the fiscal year.

By striving to gather these documents and keep them in order, you are going to help your accountant develop an annual report that is accurate and compliant with the Estonian accounting requirements.

Reporting for Inactive Companies

Even if the enterprise does not have any financial activity, it should provide annual disclosures with the Commercial Register. This ensures that all the legal formalities are completed, the fact that the company remains active is reconfirmed, and no penalties are levied for non-filing. Not doing so might lead to fines or even being stricken off the register, hence timing is considered imperative to keep the company in good books

Understanding Dormant Financial Statements

In cases when no income, expenses, or business transactions have been generated within the reporting period, such enterprises should file a dormant financial statement, also called a zero-activity report. Even if it has not acted, it serves as a confirmation of legal existence and compliance with the Estonian accounting legislation.

Although preparing a dormant financial statement is less hassle than submitting a full financial statement, it is still a requirement. The process of submission essentially confirms that no business activity has occurred, thus fulfilling all requirements by the law. In the event of failure to timely submit it, there are some penalties and, in the worst cases, authorities dissolve the company.

Cost of Annual Report Preparation

The cost of preparation of annual reports in Estonia largely depends on the level of complexity regarding company’s financial activity. For dormant companies, the work is usually less complicated; for active businesses, costs are higher since the volume of transactions is larger and the industry may require specific additional disclosures or other analyses.

Active Companies

If your company has been economically active during the year, then compilation of the annual statement encompasses detailed transaction processing, reconciliation, and compliance checks. Some of the factors that determine the cost of preparation include:

• Transaction Volume: With increased transactions, more time is spent on data processing, bookkeeping adjustments, and ensuring that financial statements are accurate.
• Document Organization: Well-organized financial records greatly reduce processing time and minimize the likelihood of errors. Poorly maintained records may entail more work, with increased costs.
• Industry-Specific Regulations: Certain industries have special accounting requirements, reporting standards, or tax compliance, which further complicates report development.
• Payroll and VAT Reporting: If your company pays salaries or is VAT-registered, additional payroll and VAT reporting are required, adding to the price.

Where the company is active, the average preparation of an annual report may cost about €500, with the final price depending on how complicated drafting is and specific industry requirements.

Dormant Companies

If your company has not engaged in any economic activity during the year, annual accounts drafting process is going to be much easier and cheaper. The report of a dormant company basically confirms that no economic activity has taken place and that the reporting entity is in compliance with regulatory requirements.

• Minimal Price: The base price for filing of a dormant company annual report starts from €150.
• Simplified Financial Reporting: Since no transactions are to be analyzed, this process mainly involves verification of the company status, handling of required forms, and submission to the Commercial Register.

Even though the reports for dormant companies are simplified, filing should be properly performed to avoid any further penalties related to late or incorrectly submitted reports.

Understanding Audit Requirements

Not all Estonian companies need to be audited on reporting period, but some do have to be because of their financial scale, operational size, and audit obligation under Estonian financial reporting standards. The requirement to conduct an audit of a company’s activity is primarily based on the company’s financial condition and economic transactions during the financial year.

A financial audit is mandatory if a company meets at least 1 of these criteria:

• Annual revenue and sales of €4,000,000 or more
• Total assets of €2,000,000 or higher on the balance sheet date
• An average workforce of 50 employees or more

Alternatively, an audit becomes obligatory if a business meets at least 2 of these thresholds:

• Annual revenue exceeding €12,000,000
• Company’s equity or a balance sheet surpassing €6,000,000
• An average of 180 employees or more

Beyond these financial criteria, an audit is always required for public interest entities such as publicly traded companies and large undertakings. Additionally, a small-scale enterprise could face an audit if it deals with regulated industries, gets public funds, or has investment agreements that need third-party confirmation of business transactions and the company’s financial situation.

If an audit is necessary, the company must appoint a certified auditor, and the audited financial statements must be included in the company annual report. The audit ensures compliance with Estonian accounting standards, enhances the company’s reputation, and provides stakeholders with an accurate overview of the company’s financial position, financial performance, and overall financial health.

Get an auditor on board as soon as possible if your business needs one. Because of the high demand in Estonia, it can be challenging to find an auditor who is accessible in time for the annual report filing date, which follows the end of the accounting period.

How to Streamline Annual Reporting

Implementation of proactive financial safeguarding techniques makes it easier for overall reporting and enables expenses to be reduced to a minimum. Here are a few key actions to make your annual report preparation effective and efficient.

• Maintain Organized Books: Throughout annual reporting, well-kept accounting records save time and money. Make sure accounts, bills, and costs are precisely updated and coded.
• Plan Reporting Early: Plan checks all year long to avoid last-minute haste. Early discrepancy identification guarantees accurate reporting and quick corrections.
• Consult Your Accountant Regularly: Early and regular contact with your accountant helps to find financial problems, follow rules, and enhance bookkeeping.

Keeping books in shape, utilizing some technology, and consulting with an accountant at a proactive level is going to have your business in compliance and save unnecessary costs when reporting.

Contact Us

Need help with your annual accounts in Estonia? Our skilled accountants are going to handle everything for you, making sure you comply with local regulations while saving you time and hassle.

Whether your company is active or dormant, we are going to draft and file your report accurately and without any stress. Contact us today to ensure smooth and timely submission.

FAQ | Frequently Asked Questions

Below, you are going to find a list of frequently asked questions regarding preparation and submission of the annual report in Estonia, which our consultants encounter during their work.