Filing annual accounts by 2 June: the risks and obligations entrepreneurs need to know

The tax calendar and what the 2 June 2026 deadline means

Entrepreneurs in Romania must strictly observe 2 June 2026 as the deadline for filing annual financial statements, commonly known as balance sheets. This tax obligation applies to all companies, regardless of their legal form or size. Late or missing filing of balance sheets can have severe financial and legal consequences, including the risk of the company being declared fiscally inactive. For this reason, given recent legislative changes, it is essential that entrepreneurs treat this deadline with the utmost seriousness.

Legislative context and relevant tax changes

The latest updates to the Tax Code and accounting regulations have introduced stricter criteria on how and when legal entities must report their finances. In particular, the changes affect how net accounting assets are assessed, an element that directly determines whether dividends can be distributed. Failing to meet these criteria can lead to penalties imposed by both the financial authorities and the Trade Register. In addition, companies that ignore the deadline risk being placed retroactively in fiscal inactivity, with consequences that include the withdrawal of certain tax facilities and restrictions on carrying out commercial contracts.

The importance of financial statements and the implications for companies

Financial statements are the foundation of sound company management: they are the essential document for strategic management decisions, for negotiating with banks and for accessing EU funds or other funding. An accurate and transparent balance sheet is also a guarantee for business partners and investors. It is also the basis for calculating taxes and determining the dividends that can be distributed to shareholders. Failing to file, or reporting incorrectly, can lead to financial penalties that affect the company's cash flow and can complicate relations with the authorities and the business community.

Which documents and information to prepare for filing

To meet the 2 June deadline, companies must make sure the following documents are prepared:

• The annual balance sheet and the profit and loss account, drawn up in accordance with Romanian accounting standards or IFRS, as applicable.
• The explanatory notes and annexes to the financial statements, detailing the major accounting items.
• The report of the administrator or director, which must give a true and fair view of the company's economic and financial activity.
• Additional supporting documents that can substantiate the declared turnover or assets (commercial contracts, bank documents, etc.).

It is recommended that all documents be checked and validated by an authorised accounting expert, who can ensure compliance with current regulations and avoid any errors that could lead to penalties.

Practical recommendations for entrepreneurs

Companies should plan the preparation and checking of their financial statements well in advance, so as not to expose themselves to the risk of penalties or temporary closure through a declaration of fiscal inactivity. It is essential to work with accounting experts and tax consultants who can provide up-to-date support, taking into account the latest legislative changes. Rigorous internal control and close attention to deadlines can prevent financial and administrative blockages. Companies should also monitor the structure of their net accounting assets so that they can make sound decisions on dividend distribution and tax optimisation. Ultimately, an awareness of these responsibilities will contribute to healthy management, making it easier to access funding and strengthen your position on the market.

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