Companies Must File Financial Statements Within 6 Months

All commercial companies operating in Saudi Arabia are reminded that they must prepare annual financial statements in line with Saudi-approved accounting standards and file them electronically within six months of the close of each fiscal year. For companies with a fiscal year ending 31 December 2024, the filing deadline was 30 June 2025.

Statements are submitted through the Qawaem electronic platform under the Saudi Business Center, and uploaded in XBRL format. The required documents typically include a statement of financial position, an income statement, a cash flow statement, and notes to the financial statements.

Responsibility for filing depends on the company type. For joint stock companies, the chairman of the board must prepare and file the statements on Qawaem and provide shareholders with a copy at least 21 days before the annual ordinary general assembly. For limited liability companies, the company manager or board of managers handles the filing, while for limited partnership companies the appointed manager — or the partners where no manager exists — carries the responsibility.

Penalties for late filing

Failing to file within the statutory six-month period triggers direct monetary penalties under Ministerial Decision No. 236 of 1447H. For all company types except unlisted joint stock companies, fines range from SAR 4,000 to SAR 12,000 depending on capital and the number of managers. A company with capital of SAR 500,000 or less and a single manager faces a SAR 8,000 fine, while capital above SAR 500,000 with a single manager rises to SAR 12,000. Having two or more managers reduces the fine to SAR 4,000 and SAR 6,000 respectively.

Unlisted joint stock companies face a SAR 15,000 fine for capital of SAR 5,000,000 or less, and SAR 20,000 for capital above that threshold. The reminder reinforces corporate transparency standards and helps business owners avoid avoidable penalties.

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