Singapore Statutory Records | What ACRA Requires You To Keep, and For How Long

For company secretaries Singapore statutory records retention is more than a routine admin task. It protects the company during ACRA checks, IRAS queries, audits, due diligence, and shareholder reviews. 

A Singapore company must keep accurate company registers and proper accounting records. Tax records usually need to be retained for at least 5 years. For SME directors, clean records make compliance easier and reduce avoidable risk. 

Why Statutory Records Matter?

Statutory records show how a company is owned, controlled, managed, or financially maintained. They support annual returns, tax filings, shareholder rights, director decisions, and corporate governance.

Poor record keeping can create practical problems. A company may struggle to prove share ownership, explain past transactions, support tax deductions, or respond to a bank review. During fundraising or restructuring, missing registers and weak accounting files can slow the entire process.

Key Records ACRA Expects Companies To Maintain

ACRA requires Singapore companies to keep accurate and updated records of key persons in the company. This includes directors, shareholders, secretaries, CEOs if appointed, auditors if appointed, registrable controllers, nominee directors, and nominee shareholders where relevant. Most electronic registers are updated through Bizfile when company changes are filed.

ACRA Statutory Registers Requirements

ACRA statutory registers requirements are closely linked to company transparency. The public can access most company registers. But the Register of Registrable Controllers, Register of Nominee Directors, and the Register of Nominee Shareholders are not public registers. These private registers still need careful maintenance because they support Singapore’s corporate transparency framework. 

For RORC, ACRA states that most companies must set up and maintain a private register. They have to also file information with ACRA’s Central RORC. Companies registered on or after 16 June 2025 need to file RORC information during company registration through Bizfile. Updates need to be filed after private register changes. 

Section 199 Companies Act Record Keeping

Section 199 Companies Act record keeping deals with accounting records and systems of control. Singapore law requires companies to keep accounting records that properly explain transactions and the company’s financial position. The records referred to under this section must be retained for at least 5 years after the end of the financial year.

This duty sits with the company and its officers. It should not be treated as the accountant’s problem only. Directors should make sure accounting data and all the supporting documents can be retrieved when needed.

Accounting Records Retention Singapore 5 Years

Accounting records retention Singapore 5 years is also important for tax compliance. IRAS states that companies must keep source documents, accounting records, schedules, bank statements, and other transaction records for at least 5 years. 

Records should be strong enough to explain income, expenses, purchases, and business transactions. IRAS also says bank statements alone are not enough. A company should be able to support its filings with invoices, receipts, vouchers, schedules, working papers, and other relevant documents. 

Digital Record Keeping IRAS Singapore

Digital record keeping IRAS Singapore guidance allows companies to keep records in physical or electronic form. IRAS strongly encourages accounting software because it helps businesses manage transactions digitally and reduces manual tracking effort. Source documents can be kept in physical or electronic form, but they must remain retrievable during the required retention period. 

A common mistake happens when a company changes accounting software. IRAS says there is no specific requirement to migrate all old transactions into the new system. Still, the company must retain and retrieve old accounting transactions and related documents for the required period. 

Records To Keep For Better Compliance

A practical SME record system should cover both statutory records and financial support files.

• Company Constitution
• Registered Office Records
• Director Details
• Shareholder Records
• Share Allotment Records
• Share Transfer Documents
• Board Resolutions
• Member Resolutions
• Agm Or Written Resolution Records
• Accounting Ledgers
• Management Accounts
• Invoices, Receipts, Vouchers
• Bank Statements
• Payroll Records
• Cpf Support
• Contracts
• Tax Computations
• Gst Records Where Applicable
• Iras Correspondence

This makes annual return filing, corporate tax filing, and audit review much smoother.

What Happens If Records Are Weak?

Weak record keeping can lead to both compliance and commercial risk. IRAS may estimate revenue, disallow expense claims, capital allowances, or GST input tax claims, and impose penalties of up to S$5,000. In default of payment, imprisonment of up to 6 months may apply.

For companies that are struck off and dissolved, IRAS states that an officer must ensure that company books and papers are kept for at least 5 years after dissolution. For companies in liquidation, the liquidator must retain books and papers for at least 5 years after dissolution. 

Simple Record Keeping Checklist For SMEs

SMEs should build a record system that directors can actually use. The goal is not to store files randomly. But make every key record easy to find and easy to explain.

• Keep separate folders for statutory registers, accounting records, tax files, contracts, payroll, bank documents, shareholder approvals, and board approvals.
• Use clear file names with financial year and transaction reference.
• Back up digital records and restrict editing access for sensitive registers.
• Keep older accounting software access or export old records in a secure retrievable format.
• Review records before annual return filing and before corporate tax filing.

Conclusion

Singapore statutory records retention should be treated as a core governance habit. It is not a year-end cleanup task. Companies need accurate ACRA registers, proper accounting records, retrievable tax support with reliable digital storage. 

A simple but consistent record system not only helps directors reduce penalties but makes the company ready for review. Arnifi can help with company setup, corporate secretarial coordination, statutory register maintenance, annual return preparation, accounting alignment, and compliance calendar planning.

FAQs

1. How Long Must A Singapore Company Keep Accounting Records?

A Singapore company should keep accounting records and supporting documents for 5 years at least. IRAS applies this based on the relevant Year of Assessment. Companies Act rules also require accounting records to be retained for at least 5 years. 

2. Where Should A Company Keep Its Statutory Records?

A company’s registered office is the main address where company records and registers are kept. ACRA also allows the registered office to be different from the actual business operating location. 

3. Can Company Records Be Kept Digitally In Singapore?

Yes. IRAS allows records to be kept in physical or electronic form. Companies are also encouraged to use accounting software, as long as records stay complete, organised, and retrievable. 

4. What Happens If A Company Does Not Keep Proper Records?

IRAS may estimate revenue, disallow expense claims, disallow capital allowances or GST input tax claims. They can also impose penalties of up to S$5,000. In default of payment, imprisonment of up to 6 months may apply.