BVI Financial Annual Return- Extension date for filing confirmed

The BVI Financial Services Commission announced on 14 February 2025 that companies required by the Act to submit their initial Financial Annual Return (FAR) to their registered agent have had the deadline automatically extended by nine months.

In December 2024 the FSC granted an automatic nine month extension for entities with a 31 December period end, which remains unchanged. This most recent extension grants an extension to entities using financial year end which do not align with the calendar year.

For example an entity with a 5 April financial year end would have been required to submit their first FAR before 4 January 2025. This deadline has now been automatically extended by nine months to 4 October 2025.

If a company fails to meet the extended filing deadline, its registered agent must notify the BVI Financial Services Commission within 30 days of the relevant company’s failure to file. The Commission in turn may initiate enforcement action against the company.

Update (24/06/2025): The FSC has announced that it will begin enforcing the Financial Annual Return (FAR) regime from 1 July 2025. Any entity that has not yet filed its first FAR, particularly those with a financial year end of 31 December 2023, should do so as a matter of urgency to avoid regulatory action.

Please reach out to us if you have questions: BVIFAR@harneysfiduciary.com. This was originally published 18 February 2025.