As the new year begins, the deadline for submitting the Shareholder Register Return (Aksjonærregisteroppgaven) is fast approaching. To assist your company with a correct and timely submission, MPR Accounting requires specific information regarding your ownership structure and any changes made during the year. Please note that all Norwegian limited companies (AS) are obligated to file this return, even if no changes in ownership or dividends have occurred.
To ensure we have all the necessary data, we have provided a checklist detailing the information typically required for reporting. If your company has carried out unique or complex transactions that we may not be aware of, please inform us immediately.
We kindly ask that you return the requested information as soon as possible, and no later than January 6th. This timeframe is necessary for us to process the data and meet the government's final submission deadline at the end of the month.
If you have any questions or are uncertain about which details to provide, do not hesitate to contact MPR Group so we can clarify any issues.
Deadlines and Penalty Fines
Late submission of the Shareholder Register Return carries a significant risk of daily penalty fines (tvangsmulkt). The fine currently amounts to half a court fee (approximately NOK 657) per day. Therefore, it is vital that we receive your documentation on time to avoid these costs.
Any advance notice of a penalty fine will be sent to the company via Altinn. You will receive an email from the Tax Administration (Skatteetaten) requesting that you log in to view the notice and the new deadline. If you receive such a warning, you must contact us immediately so we can attempt to prevent the fines from starting. Please be aware that the company is responsible for these fines if we have not received the necessary information in time, and MPR Group disclaims liability for fines incurred due to delayed information or failure to notify us of warnings received.
Special Rules for Shareholder Loans and Current Accounts
- Shareholder Loans Established During the Year (General Rule)
In general, loans granted by a company to a personal shareholder (or their close associates) must be reported as a shareholder loan in the return. The same applies to increases in existing loan balances. Under Norwegian law, these loans are typically taxed as dividends for the shareholder, even if there is an obligation to repay the company.
When reported as a shareholder loan, the amount will appear as pre-filled taxable dividends in the shareholder's personal tax return. However, the shareholder must always verify this before submitting their tax return. Additionally, the borrower must remember to list the loan balance as of December 31st as debt in their personal tax return and deduct any interest paid, as this specific data is not always pre-filled.
Loans taken from other companies within the same group (e.g., a subsidiary loaning money to a shareholder of the holding company) may also be subject to dividend taxation.
- Exception: Current Accounts / Non-Genuine Loans
Withdrawals recorded on a current account that are not based on a genuine loan established before October 7th, 2015, must be reported as dividends at both the corporate and shareholder levels, unless they are treated as salary.
- Specific Exceptions (FSFIN § 10-11-1)
The Ministry of Finance has established certain exceptions to the general rule of dividend taxation for loans to shareholders:
- A) Credit or security provided by financial institutions.
- B) Credit under NOK 100,000 from a company to a shareholder, provided the credit is fully repaid within 60 days.
- C) Trade receivables that are part of the company's ordinary business operations, provided they are settled within 30 days.
- D) Credit provided by an employer where the employee does not own more than 5% of the shares or votes in the company or group.
If any shareholders or their associates have taken loans from the company or the group, it is critical that you provide us with copies of the loan agreements. Furthermore, if any private withdrawals or loans have been made towards the end of the year, we must evaluate together whether these should be reported as shareholder loans, dividends, or salary.
As mentioned, do not hesitate to reach out to MPR Accounting if you are unsure about any details. We are here to help you ensure a compliant and stress-free reporting process.