YEAR 2026
The following table summarises the various stages involved in the preparation of the annual financial statements, the bodies responsible for compliance and the deadlines for approval of the annual financial statements.
Deadline table
| FULFILLMENT | RESPONSIBLE BODY | DEADLINE |
|---|---|---|
| Preparation of the draft financial statements and management report (when mandatory) | Board of Directors or Sole Director | At least 30 days before the day fixed for the shareholders’ meeting |
| Receipt of the draft financial statements and management report | Board of Statutory Auditors and statutory auditor if different from the Board of Statutory Auditors | At least 30 days before the day fixed for the shareholders’ meeting |
| Budget report | Board of Statutory Auditors and statutory auditor if different from the Board of Statutory Auditors | At least 15 days before the day fixed for the shareholders’ meeting |
| Filing at the company’s registered office of the financial statements with the following annexes: – directors’ report on operations – report of the board of statutory auditors – report of the statutory auditor (if any). | Various subjects | At least 15 days before the day fixed for the shareholders’ meeting |
| Receipt of the convocation for the approval of the annual accounts by publication in the Official Gazette of the notice of convocation or in a daily newspaper | Members | At least 15 days before the day fixed for the shareholders’ meeting |
| Approval of the budget | Members’ meeting | Within 120 days from the end of the financial year (within 180 days in the case of a derogation) |
| Registration of the minutes of approval of the financial statements if they contain the resolution to distribute profits with the Revenue Office | Administrative body | Within 30 days from the date of the minutes of the Assembly |
| Filing of financial statements and annexes with the Company Registry | Administrative body | Within 30 days from the date of the minutes of the Assembly |
| Recording and signing the balance sheet in the inventory book | Administrative body | Within three months from the date of submission of the tax return |
Size limits
| FULFILLMENT (ref. Civil Code) | DIMENSIONAL LIMITS | CONDITION |
|---|---|---|
| Condensed Financial Statements (Art. 2435-bis of the Civil Code) | Assets: € 5.5 mln Revenues: € 11 mln Employees: 50 | Entities are allowed to draf the financial statements in the abbreviated form if, for two consecutive financial years, at least two of the three limits are not exceeded simultaneously |
| Microcompanies (Art. 2435-ter of the Civil Code) | Assets: € 220,000 Revenues: € 440,000 Employees: 5 | Entities are allowed to draf the financial statements in the abbreviated form if, for two consecutive financial years, at least two of the three limits are not exceeded simultaneously |
| Appointment of Controlling Body/Auditor (S.r.l.) (Art. 2477 Civil Code) | Assets: € 4 mln Revenues: € 4 mln Employees: 20 | Entities are required to appoint a controlling body / auditor if, for two consecutive financial years, at least one of the three limits is exceeded |
| Inventory Entries (Art. 2214 of the Civil Code. – Art. 14 Presidential decree 600/73) | Revenues: € 5.164 mln Inventories: € 1.1 mln | It is necessary to prepare inventory entries starting from the second tax period following the one in which both limits have been exceeded for the second consecutive time |
| Consolidated Financial Statements (Legislative Decree 127/1991) | Assets: € 25 mln Revenues: € 50 mln Employees: 250 | It is necessary to prepare consolidated financial statements for parent companies that exceed (on a consolidated basis) at least two of the three limits for two consecutive financial years. |