Latest Update | ACRA’s New System Faces Process Disruptions, Technical Team Working on Fixes

  • Sig Tax & AccountingJan 24, 2025

According to the latest announcement from the Accounting and Corporate Regulatory Authority (ACRA) of Singapore, the old BizFile+ system was upgraded to the new Bizfile system on December 9, 2024, and has been officially launched. However, during its initial operation, the new system encountered technical issues, causing some customers difficulties in processes such as company registration and annual filing.

 

Current Issues with the New System

 

 

  1. Authentication Email Failure
    The new Bizfile system introduces a critical requirement: all company directors and shareholders must complete authentication through an email sent by the system after submitting a registration application. However, due to technical issues with the email link, the process cannot be completed smoothly, directly affecting the completion of the registration process.
  2. System Lag
    During the registration process, the system frequently lags at the step where the company constitution is submitted due to technical problems.
  3. Company Name Locking
    In cases where a secretary reserves a company name without completing payment, the name may become locked. However, users cannot find an option to unlock or resolve the issue manually, leaving the name in a locked state until it is automatically released, which typically takes around two weeks.

 

 

ACRA’s announcement highlighted that some users experienced system issues when attempting to submit filings, leading to failures or delays. ACRA has urgently deployed technical teams to address these problems and has pledged to restore system stability as soon as possible.

 

Official Update: Extended Filing Deadlines and Penalty Waivers

On December 30, 2024, ACRA issued a special notice via email to all professional service providers, stating that penalties for late filings after December 21, 2024, would be waived due to system malfunctions. Since the timeline for resolving these issues remains uncertain and repairs may continue until January, ACRA advises all parties to remain patient and make necessary adjustments.

 

Reminder:

System instability is normal during the initial phase of a new system. If you receive related emails from ACRA, there is no need to panic. Feel free to contact us at any time, and we will provide appropriate solutions. For affected approval matters, please remain patient as we closely monitor and follow up on relevant developments.