Question 1

Annual report deadlines in Estonia

John Doe · Accepted Answer

Every Estonian legal entity – including micro‑sized OÜs owned by e‑residents – must file an annual report (majandusaasta aruanne) with the Business Register within 6 months after the end of its financial year (Commercial Code § 60).

Typical deadline: If your financial year = calendar year, the report is due 30 June of the following year.

1. Financial‑year basics

Scenario	Financial year	Filing deadline
Standard case	01 Jan – 31 Dec	30 Jun next year
Non‑calendar FY (e.g. 01 Jul – 30 Jun)	Custom period	6 months after FY end
First FY after incorporation	Incorporation date → chosen FY end (max 18 months)	6 months after FY end

To change the FY you must submit a shareholders’ resolution and amend the articles in the Business Register before the new FY starts.

2. What must be included?

Estonian GAAP (Estonia’s Good Accounting Practice) recognises four size categories. Reporting requirements scale with size:

Size class	Thresholds (any two exceeded → next class)	Core statements	Notes & other disclosures	Management report
Micro	• Assets ≤ €175 k
• Revenue ≤ €50 k
• Liabilities ≤ equity
• 1 shareholder who is also sole director	– Balance sheet
– Income statement	– Accounting policies
– Employee count
– Related‑party info	Not required
Small	• Assets ≤ €4 m
• Revenue ≤ €8 m
• Employees ≤ 50 (avg)	+ Cash‑flow stmt (optional if indirect method impractical)	Full set of notes per Accounting Act	Yes
Medium	Assets ≤ €20 m; Revenue ≤ €40 m; Employees ≤ 250	– BS, IS, CF, Equity changes	Notes + management report	Yes + Auditor if 2/3 thresholds exceeded
Large	Exceeds medium	Same as medium	Notes + mgmt report	Yes + Statutory audit

Most of our clients fall under micro or small category.

3. Penalties for late filing

Delay	Sanction
Up to 3 months	Warning letter & initial fine (typically €200–€300)
Over 3 months	Repeated coercive fines up to €3 200 total
Persistent non‑compliance	Court‑ordered compulsory dissolution of the company

Late filing also raises red flags with banks and partners; keep your compliance record clean.

4. Best‑practice timeline (calendar‑year FY)

Month	Task
Jan‑Feb	Close previous FY in accounting software; reconcile balances
Mar	Draft financial statements; collect supporting documents
Apr	Management review; prepare notes & management report
May	Board approves package; send to auditor (if required)
Jun	Shareholders’ meeting adopts the report; board member signs; submit by 30 Jun

Submitting early avoids last‑minute e‑system congestion.

5. Key accounting frameworks

Accounting Act – bookkeeping, source documents, reporting.
Estonia’s Good Accounting Practice – national GAAP.
Accounting Board guidelines – interpretations & detailed rules.

Solid day‑to‑day bookkeeping is the foundation of a clean annual report. We help micro and small OÜs keep ledgers in shape and file on time.

Need assistance? Contact us for a fixed‑fee quote.

This overview is for general information only and not legal advice. Always check current laws and the Business Register instructions.

Question 2

Annual report deadlines in Estonia

John Doe · Accepted Answer

Every Estonian legal entity – including micro‑sized OÜs owned by e‑residents – must file an annual report (majandusaasta aruanne) with the Business Register within 6 months after the end of its financial year (Commercial Code § 60).

Typical deadline: If your financial year = calendar year, the report is due 30 June of the following year.

1. Financial‑year basics

Scenario	Financial year	Filing deadline
Standard case	01 Jan – 31 Dec	30 Jun next year
Non‑calendar FY (e.g. 01 Jul – 30 Jun)	Custom period	6 months after FY end
First FY after incorporation	Incorporation date → chosen FY end (max 18 months)	6 months after FY end

To change the FY you must submit a shareholders’ resolution and amend the articles in the Business Register before the new FY starts.

2. What must be included?

Estonian GAAP (Estonia’s Good Accounting Practice) recognises four size categories. Reporting requirements scale with size:

Size class	Thresholds (any two exceeded → next class)	Core statements	Notes & other disclosures	Management report
Micro	• Assets ≤ €175 k
• Revenue ≤ €50 k
• Liabilities ≤ equity
• 1 shareholder who is also sole director	– Balance sheet
– Income statement	– Accounting policies
– Employee count
– Related‑party info	Not required
Small	• Assets ≤ €4 m
• Revenue ≤ €8 m
• Employees ≤ 50 (avg)	+ Cash‑flow stmt (optional if indirect method impractical)	Full set of notes per Accounting Act	Yes
Medium	Assets ≤ €20 m; Revenue ≤ €40 m; Employees ≤ 250	– BS, IS, CF, Equity changes	Notes + management report	Yes + Auditor if 2/3 thresholds exceeded
Large	Exceeds medium	Same as medium	Notes + mgmt report	Yes + Statutory audit

Most of our clients fall under micro or small category.

3. Penalties for late filing

Delay	Sanction
Up to 3 months	Warning letter & initial fine (typically €200–€300)
Over 3 months	Repeated coercive fines up to €3 200 total
Persistent non‑compliance	Court‑ordered compulsory dissolution of the company

Late filing also raises red flags with banks and partners; keep your compliance record clean.

4. Best‑practice timeline (calendar‑year FY)

Month	Task
Jan‑Feb	Close previous FY in accounting software; reconcile balances
Mar	Draft financial statements; collect supporting documents
Apr	Management review; prepare notes & management report
May	Board approves package; send to auditor (if required)
Jun	Shareholders’ meeting adopts the report; board member signs; submit by 30 Jun

Submitting early avoids last‑minute e‑system congestion.

5. Key accounting frameworks

Accounting Act – bookkeeping, source documents, reporting.
Estonia’s Good Accounting Practice – national GAAP.
Accounting Board guidelines – interpretations & detailed rules.

Solid day‑to‑day bookkeeping is the foundation of a clean annual report. We help micro and small OÜs keep ledgers in shape and file on time.

Need assistance? Contact us for a fixed‑fee quote.

This overview is for general information only and not legal advice. Always check current laws and the Business Register instructions.

Annual report deadlines in Estonia

Annual report deadlines in Estonia

Every Estonian legal entity – including micro‑sized OÜs owned by e‑residents – must file an annual report (majandusaasta aruanne) with the Business Register within 6 months after the end of its financial year (Commercial Code § 60).

1. Financial‑year basics

2. What must be included?

3. Penalties for late filing

4. Best‑practice timeline (calendar‑year FY)

5. Key accounting frameworks

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Every Estonian legal entity – including micro‑sized OÜs owned by e‑residents – must file an annual report (majandusaasta aruanne) with the Business Register within 6 months after the end of its financial year (Commercial Code § 60).