What is Extention Of Time (EOT) ?
Basic Definition
- EOT (Extension of Time) refers to a request for extension of deadline
- It is used when a company is unable to complete statutory requirements within the required timeframe and needs to apply for an extension from SSM
Common Reasons for Application
- Audit is not yet completed
- Documents are not fully prepared
- Directors are not in the country or unavailable
- As a result, the company is unable to submit on time:
- Audit Report
- Annual Return
- or hold an AGM
Application Method
- All companies are allowed to apply for EOT
- However, it must be submitted through the company secretary
- Companies cannot apply on their own
Approval Situation
- In most cases, if the reason is valid, EOT will usually be approved
- If the first application is rejected:
- An Auditor’s Letter may be required
- Or other supporting documents must be provided before resubmission
⚠️ Note: If it is expected that the deadline cannot be met, the company secretary should be informed as early as possible to avoid penalties or negative records.