The deadline for fulfilling reporting in Poland obligations is approaching. In order to avoid mistakes, it is useful to know how to properly prepare the reporting documents and what the consequences are for not submitting them, as discussed in this article.
It is worth remembering that Polish companies are subject to mandatory reporting from very moment of company registration – there is no grace period.
How to Prepare Financial Statements in Poland?
First and foremost, the document must be prepared in electronic form, in a logical structure (.xml file format) and signed with one of the electronic signatures permitted by law, i.e:
- qualified electronic signature, which can be obtained on the spot in Poland from partners of trust service providers. A list of such entities for the European Union countries can be consulted here.
- a trusted signature (the so-called ePUAP), which can also be obtained by a foreigner who has a PESEL number and then confirms his identity at one of the confirmation points, which are usually Polish consulates,
- a personal signature, which is only available to Polish citizens on the eID cards currently issued.
In the case of a collective board of directors, the matter becomes more complicated, if the board members reside in other countries or do not have proper electronic signatures, because the entire board must electronically sign the financial report.
There is an exception to this requirement. The report must be signed by one or more members of the board of directors, and the others could make a declaration that the financial report has been prepared in accordance with the Accounting Act.
This declaration confirming the compliance of the report with the Accounting Act may be made in paper form with a handwritten signature, which makes things easier if the board members do not have electronic signatures.
However, it should be noted that the financial statements must still be signed electronically by at least one member of the management board.
If the company’s financial year coincides with the calendar year, the deadline for the statement is ending with the end of first quarter of the year following the end of the financial year, i.e. 31 March.
Additional Documents Required in Financial Reporting
In addition to the financial statements, companies with full accounting are required to submit:
- an activity report,
- resolutions on the approval of the annual financial statements and on the distribution of profit or coverage of losses of the company
- an auditor’s opinion on the annual financial statements (only in the case of capital groups, banks, financial institutions, and other entities that exceed the thresholds of revenue, assets or employment specified in the provisions of the Accounting Act),
- a report on payments to the public administration (applicable to specific entities operating in the extractive industry),
- reports on the activities of the capital group (applicable to capital groups),
- reports on the activities of the parent company (applies to parent companies),
- CbC-R report and notification (applies to selected international capital groups).
In exception to the resolutions, these documents should be in electronic form in any format. The logical structure applicable to the financial statements doesn’t need to be followed, and must be signed with one of the statutorily permitted electronic signatures referred to above.
For resolutions, submission as a scan of hand-signed paper documents is sufficient for their proper filing.
Where and when to submit reporting documents?
Reporting documents are filed through the electronic Financial Documents Repository operated by the Ministry of Justice. The financial statements for most companies should be approved by 30 June at the latest, and the report and other documents should be sent to the court by 15 July.
What Happens If You Miss the Deadline? Legal Consequences
If the documents are not submitted, the registration court shall summon the company to submit the reporting documents on pain of imposing a penalty under the accounting regulations, setting a deadline for their submission.
If they are not submitted on time, the registration court may impose a penalty on the company. Possible sanctions under the law are a fine (up to PLN 1,080,000) or restriction of liberty (from 1 month to 2 years).
In addition, the Fiscal Criminal Code provides for an additional sanction for failure to file financial statements with the competent tax office, for which the penalty for committing a fiscal offence is a fine ranging from one-tenth to twenty times the minimum wage (approximately PLN 93,000).
Moreover, according to the regulations on the National Court Register, if an entity fails to submit its financial statements for 2 consecutive financial years, the entity may be dissolved without liquidation proceedings, which is the most severe sanction for an entrepreneur operating in the form of a limited liability company.
Do you need legal support?
Our law firm provides comprehensive, end-to-end assistance with all aspects of financial statements filing in 2025 and broader corporate compliance.
We support clients at every stage of the reporting process – from the preparation and verification of financial documentation, through electronic signature validation, to the timely submission of required reports and resolutions to the relevant authorities.
Whether you’re a Polish company or a foreign-owned entity operating in Poland, our experienced legal team ensures that your reporting obligations are fulfilled in accordance with the latest legal requirements, helping you avoid costly penalties and administrative risks..
Contact us today to ensure your financial statements filing 2025 is compliant, complete, and on time.
