Annual Reporting for Foreign-Owned Companies in Russia: Key Obligations, Deadlines, and Filing Authorities

Foreign ownership in a Russian business brings not only investment opportunities but also strict reporting obligations. Each year, companies are required to submit a series of documents to different authorities — from the Federal Tax Service to statistical agencies. Understanding these requirements early helps avoid fines, unexpected inspections, and operational disruptions.

Every company registered in Russia — regardless of whether its capital is fully domestic or includes foreign shareholders — must prepare official year-end financial statements under Russian Accounting Standards (RAS). This requirement stands even if the head office produces IFRS-based reports for global consolidation.

The Federal Tax Service uses RAS statements to assess a company’s financial health, verify tax calculations, and ensure that local transactions are correctly recorded.

Practical tip: start reconciling accounts in January to avoid last-minute corrections, especially if you also report under IFRS and need to align the two formats.

A detailed annual return showing income, deductible expenses, and the resulting tax base. Even companies with no activity in the year must submit a "zero" declaration.

Errors in the CIT declaration can trigger tax audits, which often extend to cross-border transactions and transfer pricing reviews.

Practical tip: keep tax accounting and financial accounting records consistent to avoid discrepancies between the CIT return and the annual financial statements.

Russian corporate law obliges companies to hold an annual meeting of shareholders (for joint-stock companies) or participants (for limited liability companies). The meeting approves financial results and other corporate matters.

For foreign owners, the annual meeting formalizes control over the Russian entity and ensures proper governance documentation — essential if audited by regulators or during due diligence.

Practical tip: prepare bilingual meeting documents if foreign shareholders are involved to speed up approval and signature processes.

The Federal State Statistics Service (Rosstat) collects operational and financial data from companies. The forms required depend on the industry, company size, and economic activity codes.

Failure to submit assigned statistical forms is a finable offence, even if the company has minimal activity.

Practical tip: check Rosstat’s system at the start of each year to see which forms your company has been assigned.

Entities with foreign participation of 25% or more must report details of their ultimate beneficial owners (UBOs) and update this information annually or when changes occur.

UBO disclosure is part of Russia’s anti-money laundering framework. Missing deadlines or providing incomplete information can result in fines and heightened scrutiny.

Annual reporting in Russia is not a single formality but a coordinated set of obligations to multiple authorities. For companies with foreign shareholders, these requirements carry additional significance — they form part of both local compliance and the company’s global governance framework.