A total of 7,300 companies in 2025 and 19,000 companies in 2024 also failed to submit the AR.

The DICA notified those companies that failed to file their AR on MyCO were struck off the register from the date of the di­rective under 430 (F) of the Myan­mar Companies Law, according to the DICA’s notification.

The registration and re-reg­istration of companies on the MyCO website commenced on 1 August 2018, in keeping with the Myanmar Companies Law 2017.

All registered companies must submit an AR on the MyCO registry system within two months of incorporation and at least once every year (no later than one month after the anniver­sary of incorporation), according to Section 97 of the law.

Under Section 266 (A) of the Myanmar Companies Law 2017, public companies must submit annual returns and financial statements (G-5) simultaneously. All overseas corporations must submit ARs in the prescribed format on MyCO within 28 days of the financial year ending, under Section 53 (A-1) of the Myanmar Companies Law 2017.

As per DICA’s report, thou­sands of companies were sus­pended for failing to submit AR forms before the due date. Newly established companies are re­quired to submit ARs within two months of incorporation or face a fine of K100,000 for filing late returns.

The DICA has notified that any company which fails to sub­mit its AR within 13 months will be notified of its suspension (I- 9A). If it fails to submit the AR within 28 days of receiving the notice, the system will show the company’s status as suspended. Companies can restore their sta­tus only after shelling out a fine of K50,000 for the AR fee, K100,000 for restoration of the company on the Register, and K100,000 for late filing of documents, totalling K250,000. If a company fails to re­store its status within six months of suspension, the registrar will strike its name off the register, according to the DICA notice. — NN/KK