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Assistance with Annual Report Filing in Estonia
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If you prefer not to handle annual accounts on your own, professional assistance ensures accurate preparation, regulatory compliance, and on-time submission. This approach is often chosen by companies that value clarity, predictability, and full compliance with Estonian requirements, including foreign founders and e-residents.
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All companies registered in Estonia must prepare and submit an annual report each year, including dormant entities with no business activity. This is more than a formality: timely filing ensures legal compliance, maintains transparency, and helps avoid penalties.
In this guide, we explain who must submit an annual report, what it includes, key deadlines, the consequences of non-compliance, and how to file via the e-Business Register. The aim is to help founders and company directors understand their obligations and file annual accounts accurately, in line with Estonian accounting standards.
Financial Year Basics
A company’s financial year lasts 12 months and typically aligns with the calendar year (January 1 to December 31). However, the articles of association may define a different 12-month period.
When choosing a financial year, it should reflect the company’s actual business cycle. Aligning income and expenses from related activities within the same reporting period provides a clearer and more accurate view of financial performance.
Who Needs to Submit an Annual Report?
Every legal entity in Estonia must file an annual report, regardless of size, ownership, or whether any business activity took place during the year. This includes:
- ●Private limited companies (OÜ) — the most common type for local entrepreneurs, foreign-owned businesses and e-residents.
- ●Public limited companies (AS) — usually larger enterprises with additional audit requirements.
- ●Non-profit associations (MTÜ) — must also file annual reports, even if they operate mainly on volunteer work or have no income.
- ●Dormant & inactive companies — even with zero transactions or revenue, a nil annual report is mandatory.
In short, every Estonian legal entity has a statutory obligation to file an annual report. No general exemptions apply, making it essential to comply with reporting deadlines and requirements.
When is the Annual Report Due?
Estonian companies must submit their annual report within a statutory deadline set by law. Timely filing is essential for legal compliance, uninterrupted business operations, and avoiding penalties or registry restrictions.
June 30
For companies with a calendar financial year, the annual report must be filed no later than June 30 of the following year.
Be compliant
Missing the deadline may result in registry warnings and fines, and further measures in persistent cases.
Online filing
Annual reports are filed electronically via the Estonian e-Business Register, either independently or with support.
The standard deadline for submitting an annual report is within 6 months after the end of the financial year. For most companies using the calendar year as their financial year, this means the report must be filed by June 30 of the following year.
- ●Calendar financial year — If your financial year runs from January 1 to December 31, the annual report must be submitted by June 30 each year. This applies to most Estonian companies.
- ●Non-calendar financial year — If your company uses a different 12-month financial year (for example, April–March), the deadline is 6 months after the financial year-end. A year ending on March 31 must be reported by September 30.
- ●New companies — The first annual report may cover up to 18 months. Companies registered before July 1 file the first report for the remaining part of that year by the following June. Companies registered after July 1 may combine the remainder of that year with the next financial year and file by June of the year after next.
Many companies submit their reports close to the June 30 deadline, which can overload the system. Preparing and filing in advance helps avoid technical delays and compliance risks. Deadline extensions are uncommon and not guaranteed, so planning for the standard deadline is strongly recommended.
Consequences of Late or Missing Annual Reports
Failure to submit an annual report on time may expose an Estonian company to regulatory action, financial penalties, and long-term reputational damage reflected in public records.
Fines
Late submission may result in monetary fines or penalties under Estonian regulations.
Dissolution risk
Repeated failure to file may lead to compulsory deletion of the company from the Estonian Business Register.
Public record
Missing reports are visible to banks and counterparties and may undermine trust and creditworthiness.
Failing to submit an annual report is a serious compliance issue in Estonia and may trigger penalties, legal action, and damage to a company’s standing.
- ●Fines and penalty payments — If the report is not filed by the deadline, the company—and in some cases board members—may be fined. Authorities typically issue a warning or demand first, followed by monetary penalties. Fines usually range from €200 to €3,200 and may be imposed repeatedly until the report is submitted.
- ●Legal enforcement and dissolution — Continued non-compliance may lead the Estonian Commercial Register to initiate compulsory dissolution (deletion). After several notices, a court may order the company’s removal from the register.
- ●Business restrictions and reputational harm — Missing reports are visible in the e-Business Register. Banks, investors, and business partners review this data, and non-compliance may block cooperation and damage trust.
If you risk missing the deadline, act quickly:
- 1Prepare and file ASAP (including a dormant report if there was no activity).
- 2Respond to registrar notices and follow the instructions in the e-Business Register.
- 3Fix prior years if earlier reports are missing.
- 4Set controls — calendar reminders, task owners, and bookkeeping routines to prevent repeat issues.
What Does an Annual Report Include?
The annual reporting framework in Estonia requires a defined set of financial statements, determined by the company’s size and applicable accounting standards.
Assets & equity
Forms the structural basis of the annual report and assesses capital adequacy, solvency, and equity compliance.
Revenue & costs
Used to assess annual performance and serves as a key reference for management and tax reconciliation.
Cash movement
Highlights the company’s liquidity profile and helps assess whether operations generate sufficient cash.
An annual report (Estonian: majandusaasta aruanne) is a set of documents presenting a company’s financial position and activity for the financial year. The exact content depends on the company’s size category and the applicable reporting standard (Estonian GAAP or IFRS) and typically includes:
- ●Management report — a narrative overview of the year covering principal activities, key events, plans, and risks. Where equity is impaired or other material issues arise, the report must explain how the business will be sustained and the issues addressed.
- ●Annual accounts / financial statements, usually comprising:
- –Balance sheet — assets, liabilities, and equity at year-end.
- –Income statement (profit and loss) — revenue and expenses over the year, showing profit or loss.
- –Cash flow statement — cash inflows and outflows from operating, investing, and financing activities.
- –Statement of changes in equity — for larger entities, showing movements in share capital and retained earnings.
- –Notes — accounting policies, explanations, and detailed breakdowns (e.g., fixed assets, loans). The notes also specify whether Estonian GAAP or IFRS is applied.
Micro and Small Companies (Abridged Reporting Requirements)
Estonia allows micro and small undertakings applying Estonian GAAP to submit abridged annual reports. These reports include at least a balance sheet, income statement, and notes; cash-flow and equity statements may be omitted to simplify reporting.
Management reporting obligations depend on the company size category, which is determined based on indicators as of the end of the financial year, in accordance with the rules set out in the Accounting Act:
- ●Micro undertakings: no management report is required when using an abridged report, unless net assets fall below statutory limits.
- ●Small undertakings: a management report is required; companies may voluntarily report under a higher category.
Current threshold values for company categories in Estonia
Choose the category where at least two indicators are at or below the applicable limit.
Auditors’ Report and Audit Requirements
If a company is subject to an audit obligation, an independent auditor’s report must be included in the annual report. Prepared by a licensed auditor, this document confirms that the financial statements have been audited or reviewed and sets out the auditor’s professional opinion.
In Estonia, audit and review requirements depend on statutory financial thresholds linked to company size and performance.
Audit and Review Thresholds
In Estonia, an audit or review requirement depends on your company’s financial indicators and statutory thresholds. A threshold is deemed exceeded if the relevant value is reached or exceeded by the end of the financial year.
Most OÜs remain below Estonia’s audit thresholds, but as a business grows, revenue, assets, and headcount must be monitored closely, since crossing the limits triggers a mandatory audit, the appointment of a licensed auditor, and inclusion of the auditor’s report in the annual accounts.
Accounting Standards and Filing Rules
Estonia applies strict accounting rules to ensure financial reports are reliable, comparable, and compliant. When preparing annual accounts, follow the requirements of the Estonian Accounting Act and the Commercial Code to avoid issues with report approval.
Applicable Accounting Standards (Estonian GAAP / IFRS)
Annual reports must comply with Estonian GAAP or IFRS as adopted by the EU. Most small and medium-sized companies apply GAAP, while larger entities or group companies may use IFRS. The chosen standard must be applied consistently and disclosed in the notes.
Reporting Language and Currency
The annual report must be filed in Estonian and in euros (€). An English version may be generated for reference, but only the Estonian version is legally valid and must be digitally signed and submitted. Amounts are reported in euros, with cents or in thousands as specified.
How to File the Annual Report via the e-Business Register
Annual reports are submitted online through the e-Business Register using the e-Annual Reporting module:
- 1Prepare the figures — Finalize financial statements, notes, and the management report.
- 2Log in — Access the e-Business Register using ID-card, e-Residency, Smart-ID, or Mobile-ID.
- 3Create the report — Select the correct financial year and open a new report.
- 4Enter or import data — Complete the forms or upload supported files.
- 5Review and sign — Validate the report and apply digital signatures.
- 6Submit — File the signed report with the Commercial Register.
- ●Preparation may be delegated — but legal responsibility remains with the directors.
- ●Maintain bookkeeping — Keep records up to date throughout the year.
- ●Dormant still files — A report is required even without activity.
- ●Plan early — Filing opens once books are closed; early submission avoids issues.
Need Help with Annual Report Filing?
Professional support ensures accurate preparation, timely submission, and full compliance with Estonian annual reporting requirements.
Fully correct
Annual accounts prepared under Estonian GAAP or IFRS and reviewed before submission.
Time-saving
We manage invoices, transactions, and reconciliations to reduce administrative workload.
Risk-safe
Professional filing reduces compliance risks and protects your company’s reputation.
Filing an annual report for the first time can be daunting—especially under unfamiliar rules. It combines accounting, legal compliance, and use of Estonia’s e-Business Register. You don’t have to do it alone: Eesti Firma helps founders file accurately and on time.
We support foreign founders and e-residents with end-to-end compliance—from bookkeeping to annual reports and tax filings. Working with our accountants and consultants means:
- ●Compliance, done right — Prepared under Estonian GAAP or IFRS (as adopted in the EU). We track key updates—such as audit thresholds and filing formats—so nothing essential is missed.
- ●Time saved — We compile, reconcile, and submit the report, so you can focus on running the business—even if you don’t speak Estonian.
- ●Peace of mind — Deadline monitoring, proactive reminders, digital signatures, and communication with authorities if questions arise.
- ●Year-round support — Daily accounting, payroll, VAT returns, and corporate compliance to keep your company in good standing.
Directors remain legally responsible for report content, but with Eesti Firma the process is clear and manageable. Many entrepreneurs trust our team from day one to set up compliant accounting.
Contact Us for Annual Reporting Support
An annual report is more than a formality—it reflects Estonia’s commitment to transparency and sound governance. With Eesti Firma’s accounting and bookkeeping, you can file quickly and correctly, avoid penalties, and build trust in your company.
We’ll guide you end-to-end so your business stays in good standing with the Commercial Register. Contact us to receive a clear document checklist and a practical filing timeline for your company.
FAQ | Frequently Asked Questions
Below, you are going to find a list of frequently asked questions regarding preparation and submission of the annual report in Estonia, which our consultants encounter during their work.
- What is the annual report of an Estonian company?
The annual report is an official document summarizing the company’s financial activities and indicators for the 12-month accounting period. It consists of main statements detailing the company’s financial condition, business transactions, and comprehensive financial statements as required by Estonian law.
- Where is the annual report submitted in Estonia?
In Estonia, annual financial statements must be submitted digitally to the Business Register (Commercial Register). Submission requires a digital signature, an ID card, or Mobile-ID by the management board or involving a professional accountant in the process.
- What are the deadlines for submission?
The annual report should be filed within 6 months after the financial year ends. For entities with a calendar-year financial year, the deadline is June 30 of the following year.
- Should inactive companies submit an annual report?
Yes, even inactive and dormant companies must submit annual financial statements indicating no economic activity. This is essential for all companies registered in Estonia to maintain compliance.
- What data should be included in the financial statement?
The annual report must include comprehensive financial disclosures on the company’s economic activities and key financial positions, such as the balance sheet, profit and loss statement, cash flow statement, bank statements, annexes clarifying financial data, and an auditor’s report if auditing is obligatory.
- How do I submit the annual report?
Reports are filed via the e-portal of the Business Register. Gaining access requires an Estonian electronic signature (ID card, e-Residency, or Mobile-ID). Alternatively, if you do not have an e-signature, you can authorize a local accountant to prepare and submit the report on your behalf, using a scanned copy with your signature.
- What happens if the report is not submitted on time?
Late submission of the annual financial statements can result in fines and, in severe cases, compulsory liquidation of the company by the Estonian authorities.
