Frequent question: What records should be kept on each shareholder?

The shareholder register requires that every current shareholder is recorded. The register includes each person’s name, address, and the number of shares owned. In addition, the register can detail the holder’s occupation and the price they paid for the shares.

What corporate records must be kept?

What Should My Corporate Records Contain?

  • Your articles of incorporation (and any amendments to them)
  • A copy of your corporate bylaws.
  • Minutes from board meetings and annual shareholder meetings.
  • Income tax returns (and proof documents for any deductions you make)
  • Employment tax records.

What are the different types of records to be maintained by a company as per Companies Act?

Registers to be maintained under the Companies Act, 2013

  • Register of the Company. …
  • Register of Members. …
  • Register of Directors and Key Managerial Personnel. …
  • Register of Charges. …
  • Register of Renewed and Duplicate Share Certificates. …
  • Register of Employee Stock Options. …
  • Register of Shares/Other Securities Bought Back.
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What information can a shareholder request?

As a shareholder you have the right to have your name properly inserted in the company’s register of members. You also have the right to inspect and obtain copies of various company documents, records and registers: Provided reasonable notice has been given: Members can inspect these documents free of charge.

What registers should a company maintain?

All limited companies must keep the following registers by law, where applicable – as required by the relevant sections of The Companies Act 2006.

  • Register of Members. …
  • Register of Directors. …
  • People with Significant Control (PSC) …
  • Register of Company Secretaries. …
  • Register of Charges.

What records need to be kept for 7 years?

Keep records for 7 years if you file a claim for a loss from worthless securities or bad debt deduction. Keep records for 6 years if you do not report income that you should report, and it is more than 25% of the gross income shown on your return. Keep records indefinitely if you do not file a return.

What records do I need to keep and for how long?

To be on the safe side, McBride says to keep all tax records for at least seven years. Keep forever. Records such as birth and death certificates, marriage licenses, divorce decrees, Social Security cards, and military discharge papers should be kept indefinitely.

What accounting records must be kept by a company to satisfy the requirements of the company Act 2013?

As per Section 128(1), every company must prepare and keep its books of accounts and other relevant books, financial statements, and papers at its registered office.

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How do you maintain registered members?

Rule 15 provides for preservation of registers. The register of members along with the index is to be preserved permanently and kept in the custody of the company secretary of the company or any other person authorized by the board for such purpose.

What is form STK 4?

Form STK-4 i.e. Affidavit for company closure is required to be provided by every director of the company at the time of closure of the company under the Fast Track Exit Scheme.

When can shareholders inspect the records and bookkeeping of the corporation?

Shareholders may inspect and copy any of the previously listed business records provided that written notice is given to the corporation at least five business days before the date they intend to inspect and copy.

Do shareholders have a right to inspect corporate records?

Shareholders are entitled to inspect the company’s financial books and records, including, but not limited to, financial statements, shareholder lists, corporate stock ledgers, and meeting minutes.

What rights does a 50% shareholder have?

Under company law, certain decisions can only be made by shareholders who hold over 50% of the shares. Shareholders with 51% of the equity have the power to appoint and remove directors (and thus change day to day control) and to approve payment of a final dividend.