[1] Whilst filing annual accounts is still a requirement for dormant companies, instead of filing a full set of annual accounts, dormant companies can file a basic set of accounts known as a dormant company accounts (DCA).
For example, some financial and insurance companies are under obligation to file their full accounts, regardless of their status.
For ACRA the determining factor for dormancy is the lack of transactions.
For IRAS, a company that does not generate income is considered dormant.
The companies deemed dormant by the authorities can be exempted from filing annual financials and submitting tax return.