The statutory deadline for approving financial statements for the 2024 financial year falls at the end of June. This is a key deadline that cannot be ignored by any entity operating in the form of a commercial company, nor by family foundations – a relatively new but increasingly common type of entity in the Polish legal landscape.
It is worth recalling the steps that must be taken to fulfill the obligations under accounting regulations and avoid negative consequences.
Capital and partnership companies – obligations by June 30
Every company, regardless of whether it operates as a limited liability company, joint-stock company, limited partnership, or general partnership (if subject to full accounting requirements), must approve its financial statements by June 30 of the year following the end of the financial year.
The management board or partners are required to:
- Prepare the annual financial statement in a format compliant with e-Statements requirements (XML file),
- Sign the documents using a qualified electronic signature or a trusted signature by all members of the management body,
- Convene a shareholders’ meeting or general meeting to approve the statement and pass resolutions on the financial result (profit distribution or loss coverage),
- Grant discharge to members of the governing bodies for the given year.
Once approved, the documents must be submitted electronically to the Repository of Financial Documents (RDF) within 15 days.
The documentation package includes:
- The financial statement (XML),
- A management report (except for micro and small entities, which may be exempt),
- A resolution approving the statement,
- A resolution on profit or loss allocation.
Family foundations – new entities, familiar obligations
Although family foundations have only recently been introduced into Polish law, they are also required to keep accounting records and prepare and approve annual financial statements. This process differs slightly from that of companies, particularly in terms of deadlines and the places where documents must be submitted.
A family foundation must:
- Prepare the financial statement within 3 months of the end of the financial year (typically by March 31),
- Convene the Assembly of Beneficiaries to approve the statement – the final deadline is June 30.
Once approved, the documents must be submitted in two places:
- Electronically to the National Revenue Administration (KAS) – using an electronic or trusted signature;
- In paper form to the District Court in Piotrków Trybunalski – to the Register of Family Foundations, which is maintained exclusively in traditional (paper) form.
Required documentation for a family foundation
The submission package to the register should include:
- RFR-Z30 and RFR-ZN forms,
- A paper copy of the financial statement and an electronic version on a data carrier (e.g., CD, XML file),
- A resolution of the Assembly of Beneficiaries approving the statement,
- A resolution on the allocation of the financial result (profit or loss),
- A resolution granting discharge to the foundation’s board members,
- Minutes of the Assembly of Beneficiaries meeting,
- An audit report – if the foundation was subject to a statutory audit,
- Proof of court fee payment in the amount of PLN 250.
Comprehensive support in the process
For many entities, especially those using family foundation mechanisms for the first time, the preparation and submission of financial statements may raise concerns. The complexity of the procedures, different submission locations, and formal requirements for signatures and file formats require precision and knowledge of the regulations.
That is why it is worth considering cooperation with a law firm or accounting office that offers comprehensive support – from organizing the Assembly of Beneficiaries and preparing the appropriate resolutions and forms, to submitting the documents to the relevant authorities and court.