Fi­nan­cial sta­te­ments of an in­ac­tive busi­ness

Welcome! I assume that one of your reasons for visiting this page is that you have an inactive limited liability company in Finland and want to ensure you remain compliant and avoid unnecessary fines or sanctions. Let’s go through the topic so you understand why financial statements must be filed even if there has been no activity whatsoever (so-called nil financial statements).

Why Dormant Limited Companies Must File Financial Statements in Finland

If you own a Finnish limited company that has not been active for some time, you might think you can skip filing financial statements. However, this is a common misunderstanding that can lead to serious consequences.

Filing Is Mandatory—Even If There’s No Activity

The Accounting Act states that all limited companies in Finland are required by law to prepare and submit annual financial statements to the Trade Register, regardless of whether the company has had any business activity. This obligation applies even if your company has been dormant for several years.

What Happens If You Don’t File?

Failure to file financial statements can result in penalty fees, deregistration from the Trade Register, and even forced liquidation of your company. The Trade Register has recently tightened its control measures, and is actively overseeing and reaching out to companies that have failed to meet to reporting criteria.

What Should You Do?

Even if your company has had no transactions, you must prepare a financial statement showing zero activity and submit it to the Trade Register. This keeps your company compliant and avoids unnecessary risks.

Need Help?

If you’re unsure how to prepare or submit dormant company financial statements, contact an accounting professional.

We offer an annual flat-fee service that takes care of filing nil financial statements with the Trade Register and submitting the tax return to the Tax Administration, ensuring your company remains fully compliant. Even when inactive. Let's talk!

Read more on the Trade Register's site: Fi­nan­cial sta­te­ments of an in­ac­tive busi­ness

Stay compliant—file your financial statements every year!