CHECKLIST FOR SOUTH AFRICAN COMPANIES

CHECKLIST: Documents every South African company is expected to have kept, by law?

In South Africa, companies are legally required to keep specific records and documents to comply with the Companies Act No. 71 of 2008, tax laws, and other regulatory requirements. Below is a list of key documents that every company must keep, categorized by legal and administrative purpose:

Corporate Records (Companies Act, 2008 – Section 24)

1. Memorandum of Incorporation (MOI) – and any amendments.

2. Certificate of Incorporation.

3. Register of Directors – names, ID numbers, addresses, appointment and resignation dates.

4. Register of Company Secretaries and Auditors (if applicable).

5. Share Register – for private companies with shareholders, listing issued shares and transfers.

6. Minutes of Board Meetings and Shareholder Meetings – for at least 7 years.

7. Resolutions passed by the Board and Shareholders – for at least 7 years.

8. Annual Financial Statements – required to be retained for 7 years.

9. Accounting Records – including ledgers, journals, and supporting documents, for at least 7 years.

Tax and Financial Compliance (Tax Administration Act, 2011)

1. Tax Returns – including income tax (CIT), VAT, PAYE, UIF, and SDL returns.

2. Supporting Tax Documentation – invoices, bank statements, proof of payments, etc.

3. Payroll Records – payslips, employee tax certificates (IRP5s), etc., for at least 5 years.

4. SARS Correspondence and Assessments – letters, objections, rulings, etc.

Employment Records (Basic Conditions of Employment Act & Labour Laws)

1. Employment Contracts.

2. Employee Register – including ID numbers, addresses, employment dates.

3. Leave Records – sick leave, annual leave, etc.

4. Time Worked Records – attendance registers, time sheets.

5. Disciplinary Records – warnings, hearings, outcomes.

6. Salary and Wage Records – including deductions and benefits.

Most labour-related records must be kept for at least 3 years, but some (like injury-on-duty records) may be required for longer periods depending on the applicable law.

CIPC and Regulatory Filings

1. Annual Returns (filed with CIPC) – must be submitted yearly.

2. Compliance Checklist (if applicable for certain companies).

3. Company Name Reservation Documents – if applicable.

4. Beneficial Ownership Register – effective from 2023 for certain companies.

Other Documents (Depending on Company Type)

• BBBEE Certificates – if claiming BEE level status.

• Licenses and Permits – sector-specific.

• Contracts and Agreements – leases, supplier contracts, NDAs.

• Insurance Policies – business insurance, liability cover.

Retention Periods Summary (minimums):

Document Type	Retention Period
Corporate Records	7 years
Tax Records	5–7 years
Financial Statements	7 years
Employment Records	3+ years
CIPC Filings	7 years