This note outlines the significant regulatory updates and digital enhancements recently introduced by the Accounting and Corporate Regulatory Authority (ACRA).
These changes are designed to streamline filing processes, enhance corporate transparency, and improve user experience on the Bizfile platform. All corporate service providers (CSPs) and entities should take note of the following key developments.
Enhanced Compliance Monitoring: Bizfile Alerts
A new pop-up alert feature has been implemented in Bizfile to aid in timely compliance. The alert appears on an entity’s dashboard upon login to notify users of upcoming or overdue filing deadlines.
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Companies: Alerts appear two months before the Annual Return (AR) due date.
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LLPs: Alerts appear three months before the Annual Declaration (AD) due date.
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The alert will continue to appear with every login until the filing is brought up to date.
Critical Focus on Striking-Off Due Diligence
ACRA has emphasized the heightened responsibility of CSPs when applying for voluntary striking off on behalf of clients. Unlike applications made by directors (which require system endorsement from other directors), CSP applications do not have this safeguard. Therefore, rigorous due diligence is mandatory.
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Mandatory Consent: CSPs must obtain and record explicit consent from all directors before submitting a striking-off application. Failure to do so can lead to disputes, delays, and potential liability for unauthorized applications.
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Case Study Highlight: A case was cited where a CSP acted on a single director’s instruction without verifying consent from others, leading to objections, confusion, and reputational risk.
New Requirements for Objecting to Striking-Off
CSPs lodging objections against a striking-off application must adhere to strict protocols to ensure their objection is valid and processed efficiently.
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Supporting Documents: Objections based on outstanding debt must be supported by clear evidence, including invoices, statements of account, and proof of recovery efforts.
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Key Restrictions:
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Do not lodge multiple objections.
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Do not submit Bizfile extracts or appointment letters as supporting documents.
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Outdated debts (generally over six years old) will be disallowed.
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CSP Entity Objections: CSPs objecting to their own company being struck off must use the company’s CorpPass, not an employee’s Singpass.
Shift to Guided E-Services: Key Examples
ACRA is progressively replacing manual “General Lodgement” transactions with automated, standalone e-services. This shift aims to reduce turnaround time and minimize human error.
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Notice of Error (NOE) for Shares (Launched Oct 2025): This e-service is for rectifying clerical or typographical errors in share-related transactions. The guided flow includes mandatory updates to shares information and auto-calculation to minimize errors. Non-share related errors must still be filed under “Other General Lodgement.”
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Notice to Update Paid-Up Share Capital (Launched Dec 2025): This new e-service provides a step-by-step guide for updating paid-up amounts on partially paid shares, allowing for multi-currency updates.
Data Consistency: Automatic ID Changes
An enhancement now ensures that when an individual’s identification details (ID type, number, or nationality) are updated in one entity, the change will be automatically applied to all other associated entities where that individual holds a position. This reduces duplicate filings and maintains data consistency across the register.
Improved Digital Correspondence
ACRA is enhancing its digital communications to ensure timely and clear delivery of important information.
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Email Verification: Verification emails for email addresses will now include the entity name, UEN, and transaction number for context. The verification link must be completed within 24 hours.
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Free Business Profile: The free business profile will be sent directly to the user’s Bizfile inbox as an attachment within 15 minutes of a successful filing (e.g., after AR filing). The attachment will be available for 60 days.
New BizFin Preparation Tool
A new BizFin preparation tool was released on 25 February 2026, with mandatory adoption required from 16 April 2026. Key changes include:
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New Mandatory Data Elements: CSPs must now provide additional information in the XBRL filing, including:
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Number of employees (company and group).
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Whether the company has any subsidiaries, associates, or joint ventures.
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Detailed hierarchy and relationship with parent companies (Singapore or foreign) that prepare consolidated financial statements.
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Data Quality Checks: The tool includes validation to ensure the attached financial statements (Text Block) are complete and that the year-end dates match the XBRL data.
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Simplified Exemptions: Business rules have been streamlined to automatically grant certain exemptions (e.g., prior-year reconciliations for companies using SFRS for Small Entities), removing the need for manual applications.
Transition to SSIC 2025
The Singapore Standard Industrial Classification (SSIC) will be updated to the 2025 edition, effective 9 May 2026.
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Filing Deadline: All transactions (e.g., Name Applications, Annual Returns) must be submitted by 5pm on 8 May 2026. Any unsubmitted drafts using SSIC 2020 codes must be deleted to avoid errors.
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Pending Transactions: ACRA will automatically convert pending applications with impacted codes after approval. If the new code does not reflect the correct business activity, a separate change of SSIC must be filed.
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Registered Entities: ACRA will automatically convert all existing entities to SSIC 2025. No action is required unless the converted code is incorrect, in which case a change can be filed from 9 May 2026.
All CSPs are advised to familiarize themselves with these changes and update their internal processes accordingly. Further details and step-by-step guides are available on the ACRA website under the “Resources” section.
Source: ACRA webinar, 26 March 2026