- Category: Legislation
Filing late corporate accounts
Filing corporate accounts is a legal obligation in France. As such, in order to avoid any legal trouble, you should always make sure that your company files them on time.
However, what happens to you, as director, if for one reason or another, you can’t make it?
In principle, nothing. Indeed, even if you’re the legal representative of your company, whenever you do something “in the name and for the benefit” of your company, it’s not your personal liability that’s incurred; it’s the liability of the company. Shareholders can always turn against you and fire you, but you’re theoretically not liable for this event.
That is, unless this issue is the cause of a fault you’ve committed that is “separable” from your functions. This happens when you’ve intentionally committed this wrong, and that its consequences go beyond what your normal functions allow. In this case, you’re personally liable for any wrongdoings.
So, can this happen for late filing of corporate accounts? Thankfully, no!
A court ruling judged that this fault was not severe enough to be “separable” from the functions of a manager, so if your company has filed is accounts late, you shouldn’t have to worry too much. It still is a violation of the law, though, so it’s worth being careful!