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Annual Report & Financial Statements in Romania

Bilanț contabil · interim statement · CIT declaration · dividend preparation · ANAF filing

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Every Romanian company — active or dormant — must prepare and file financial statements twice a year: an interim statement covering the period to 30 June, and an annual financial statement (bilanț contabil) covering the full calendar year to 31 December. These are statutory obligations under Romanian accounting law and must be prepared by a qualified Romanian accountant (contabil autorizat or expert contabil).

Romania For Business SRL coordinates the preparation and ANAF filing of annual and interim financial statements through its partner network of qualified accountants. The completed statements are delivered to the client in English alongside the Romanian originals — so international founders understand their company’s financial position, not just that the filing has been submitted.

Annual bilanț filing deadline: 30 June — fines of RON 2,000–5,000 for late filing

The annual financial statements (bilanț contabil) for the calendar year ending 31 December must be submitted electronically to ANAF by 30 June of the following year. Late filing results in fines of RON 2,000–5,000 per year. For newly registered companies or companies that have not filed in previous years, ANAF penalties accumulate — act promptly if filing is overdue.

Two Financial Statement Deadlines Every Year

Romanian companies have two mandatory financial statement filings per calendar year. Both are prepared by the company’s accountant and filed electronically with ANAF.

Interim statement prepared
(1 Jan – 30 Jun)

Filed by 25 August

Annual bilanț prepared
(full calendar year)

Filed by 30 June following year

CIT annual declaration
(D101)

Filed by 25 March following year

Dividends may be declared

After annual bilanț is approved

Filing Key facts
Interim financial statement (situații financiare semestriale) Covers the period 1 January to 30 June of the current year. Must be prepared and filed with ANAF by 25 August. Applies to all Romanian companies regardless of size or activity. Required even for dormant companies with no transactions. Failure to file results in fines of RON 1,000–3,000.
Annual financial statements (bilanț contabil) Covers the full calendar year 1 January to 31 December. Must be prepared and filed with ANAF by 30 June of the following year. Consists of: balance sheet (bilanț), profit and loss account (cont de profit și pierdere), cash flow statement, statement of changes in equity and accounting notes. Failure to file results in fines of RON 2,000–5,000.
CIT annual declaration (D101) Filed by companies on the standard 16% corporate income tax regime. Declares the taxable profit for the full year and reconciles with quarterly CIT prepayments. Deadline: 25 March of the following year (with some exceptions for companies that also prepare consolidated accounts). Microenterprise companies do not file D101 — they file D100 quarterly.
Dividend distribution Dividends can only be distributed after the annual financial statements are approved by shareholders and confirmed to be accurate. The shareholders’ resolution approving the distribution must reference the approved bilanț. The 10% withholding tax on dividends must be declared and paid to ANAF by the 25th of the month following the distribution.

What the Romanian Annual Financial Statement Contains

The annual financial statement (bilanț contabil) is a multi-document package prepared under Romanian Accounting Standards (OMFP 1802/2014). It provides a complete picture of the company’s financial position at year-end and its financial performance during the year.

Component What it shows
Balance sheet (bilanț) Snapshot of the company’s financial position at 31 December — assets (fixed assets, current assets, cash), liabilities (short-term and long-term) and equity (share capital, retained earnings, current year profit or loss). Required for all companies.
Profit and loss account (cont de profit și pierdere) Summary of the company’s revenues, costs and expenses for the full year — showing operating profit, financial income/expenses and net profit or loss. Required for all companies.
Cash flow statement (situația fluxurilor de numerar) Shows how cash moved through the business during the year — operating cash flows, investing activities and financing activities. Required for medium and large companies; simplified version for small companies.
Statement of changes in equity Shows the movement in shareholders’ equity during the year — opening equity, profit/(loss) for the year, dividends distributed and closing equity. Required for medium and large companies.
Accounting notes (note explicative) Supplementary disclosures on accounting policies used, significant estimates, details of fixed assets, creditors, related-party transactions, commitments and contingencies. Extent of notes depends on company size.
Administrator’s report (raport al administratorilor) Required for medium and large companies — a narrative report from the director(s) on business developments, risks, key performance indicators and future outlook.
Company size determines the extent of the bilanț — simplified rules apply to micro and small companies

Romanian accounting rules distinguish between micro-entities, small companies, medium companies and large companies — based on turnover, balance sheet total and employee count. Micro-entities and small companies benefit from simplified financial statement requirements. Your accountant applies the correct category based on your company’s size indicators.

Company Size Classification — How It Affects the Annual Report

The extent of the annual financial statements required depends on the company’s classification under Romanian accounting rules. Classification is determined by exceeding two of three criteria in two consecutive years.

Category Balance sheet total Net turnover Average employees
Micro-entity ≤ €450,000 ≤ €900,000 ≤ 10
Small company ≤ €4,000,000 ≤ €8,000,000 ≤ 50
Medium company ≤ €17,500,000 ≤ €35,000,000 ≤ 250
Large company > €17,500,000 > €35,000,000 > 250
Category Financial statement requirements
Micro-entity Simplified balance sheet and P&L only. No cash flow statement required. Minimal accounting notes. No administrator’s report. Most newly registered foreign-owned SRLs qualify as micro-entities.
Small company Full balance sheet and P&L. No cash flow statement or statement of changes in equity required. Basic accounting notes. No administrator’s report.
Medium company Full set — balance sheet, P&L, cash flow statement, changes in equity, accounting notes, administrator’s report.
Large company Full set as for medium, plus statutory audit required (audit obligatoriu) — the financial statements must be signed off by a licensed Romanian auditor (auditor financiar). Significant additional cost.

How the Annual Financial Statement Is Prepared

The annual bilanț preparation follows a structured process coordinated by your accountant. The process typically starts in January and should be completed well before the 30 June ANAF filing deadline.

01

Year-end accounting closed off

02

All transactions posted & reconciled

03

Draft bilanț prepared by accountant

04

Client reviews English summary

05

Shareholders approve the bilanț

06

ANAF e-filing completed

07

Confirmation received & filed

The shareholders’ approval of the annual financial statements is a required step before filing — a shareholders’ resolution approving the bilanț must be prepared and signed. Romania For Business SRL coordinates the resolution as part of the annual report package.

Corporate Income Tax Declaration and Dividend Distribution

The annual financial statement process connects directly to two other annual obligations: the CIT declaration (for standard CIT companies) and the dividend distribution (for companies that want to extract profits after the year-end).

Area Detail
CIT annual declaration — D101 Companies on the standard 16% corporate income tax regime must file a Declaration 101 (D101) by 25 March of the following year. D101 reconciles the taxable profit for the year with quarterly CIT prepayments already made. If the annual CIT exceeds the prepayments, the balance is due by 25 March. If prepayments exceed the annual CIT, a refund can be claimed. Your accountant prepares and files D101.
Microenterprise — no D101 Companies on the microenterprise regime (1% or 3%) do not file D101. Their annual tax obligation is discharged through four quarterly D100 declarations. The annual bilanț is still required, but the tax reconciliation is simpler.
Dividend distribution — when allowed Dividends can only be distributed from retained profits after the annual financial statements are approved by shareholders. A distribution cannot be made in anticipation of approval — the bilanț must be completed and approved first (or the company must prepare interim quarterly financial statements specifically for an interim dividend distribution).
Interim dividend distributions Romanian law permits interim (quarterly) dividend distributions if the company prepares a quarterly financial statement confirming the distributable profit. This is an additional accounting deliverable — separate from the half-year interim statement. The cost is typically €100 per quarterly distribution statement.
Withholding tax on dividends — 10% When dividends are paid to individual shareholders, the company must withhold 10% tax at source and pay it to ANAF by the 25th of the month following the distribution. For EU corporate shareholders, 0% withholding tax may apply under the EU Parent-Subsidiary Directive if conditions are met. Your accountant calculates and reports the withholding.
Dividend documentation Every dividend distribution requires: a shareholders’ resolution specifying the amount, currency and payment date; confirmation that the distribution does not exceed the distributable reserves per the approved bilanț; and the withholding tax calculation. Romania For Business SRL prepares dividend documentation as part of the annual report package.

Filing Deadlines and Late-Filing Penalties

The following table summarises all annual and semi-annual financial reporting deadlines and the fines that apply to late or non-compliant filings. Your accountant manages all deadlines — but the table below is provided so international founders understand the compliance calendar and the financial consequences of non-compliance.

Filing obligation Deadline Late-filing penalty
Interim financial statement (30 June period) 25 August RON 1,000–3,000 per year late
Annual financial statements (bilanț — 31 Dec) 30 June following year RON 2,000–5,000 per year late
CIT annual declaration (D101) 25 March following year RON 500–1,000; interest on unpaid tax
Dividend withholding tax declaration 25th of following month RON 500–1,000 + 0.02%/day interest
Failure to prepare bilanț at all — RON 10,000–40,000 (administrative fine for failure to maintain accounting records)
Overdue filings from prior years must be corrected — penalties accumulate per year

If your company has not filed financial statements for one or more prior years, each unfiled year attracts a separate fine. ANAF can apply fines per year of non-compliance. Correcting overdue filings as quickly as possible — even late — limits the total fine exposure. Romania For Business SRL coordinates retroactive bilanț preparation and ANAF regularisation where needed.

Annual Report — Standalone Service vs Monthly Package

The annual bilanț service is available as a standalone engagement (for companies that already have a Romanian accountant but need a second opinion or a catch-up filing) or as part of the ongoing monthly accounting package (in which case the annual statement is included or at a reduced standalone rate).

Standalone annual report As part of monthly accounting package
✓ Suitable for companies with an existing accountant who want a cross-check
✓ Suitable for overdue filings from prior years
✓ One-off engagement — no ongoing commitment
✓ Priced from €100/yr (dormant) to €350/yr (active, complex)
✓ Includes English-language summary of results
✓ Withholding tax on dividends coordinated separately 		✓ Annual bilanț included in monthly package
✓ No additional standalone fee for the annual statement
✓ Year-end process is seamless — all records already held by accountant
✓ Dividend documentation included in package
✓ CIT declaration (D101) coordinated automatically
✓ Recommended for all active Romanian companies

ANNUAL REPORT & FINANCIAL STATEMENTS — ROMANIA

from €100 / yr
annual package

ANNUAL FINANCIAL STATEMENT PACKAGE INCLUDES:

  • Annual financial statements (bilanț contabil) — balance sheet, P&L, cash flow and notes
  • ANAF electronic filing — submission via the official ANAF e-portal
  • Interim financial statement (situații financiare semestriale) — 30 June period
  • ANAF e-filing of the interim statement — by 25 August deadline
  • Annual corporate income tax declaration (D101) — for standard CIT companies
  • CIT quarterly prepayment coordination — if applicable
  • Dividend distribution documentation — shareholders’ resolution and dividend calculation
  • 10% withholding tax calculation and ANAF reporting for dividend payments
  • English-language summary of annual financial results — delivered to the client
  • ANAF deficiency notice handling — response to any ANAF queries on filed statements

INDICATIVE FIXED FEES — ANNUAL FINANCIAL REPORTING

  • Annual financial statements (bilanț) — dormant company from €100/yr
  • Annual financial statements (bilanț) — active company (simple) from €200/yr
  • Annual financial statements — active company (VAT + payroll) from €350/yr
  • Interim financial statement (June) — standalone from €100
  • Annual CIT declaration (D101) — standalone from €100
  • Dividend distribution — documentation and withholding tax from €100/distribution
  • Rectification of previously filed financial statement (bilanț) from €200

Fees confirmed in writing before engagement. Annual statement fees are typically included in the monthly accounting package — standalone pricing applies when the annual report is commissioned separately. Fees may be subject to Romanian VAT.

Frequently Asked Questions — Annual Report & Financial Statements in Romania

The bilanț contabil is the Romanian annual financial statement — a statutory document comprising the balance sheet, profit and loss account, and supporting notes that every Romanian company must prepare and file with ANAF. It must be prepared by a qualified Romanian accountant (contabil autorizat or expert contabil) for the full calendar year ending 31 December, and filed with ANAF by 30 June of the following year. All Romanian companies — active or dormant — must file, without exception.

The annual financial statements (bilanț contabil) for the calendar year ending 31 December must be submitted electronically to ANAF by 30 June of the following year. In addition, a semi-annual interim statement (situații financiare semestriale) for the period 1 January to 30 June must be filed by 25 August of the same year. Both deadlines apply to all Romanian companies regardless of size or activity level.

Late filing of the annual financial statements attracts fines of RON 2,000–5,000 per year of non-compliance. Late filing of the interim (June) statement attracts fines of RON 1,000–3,000. If a company has failed to file for multiple years, each year is treated separately and fines accumulate. Filing the missing statements — even late — stops the fine clock and is always the recommended course of action.

Yes. Every registered Romanian company must file annual financial statements regardless of whether it conducted any activity during the year. A dormant company with no revenue, no expenses and no employees still files a bilanț — showing nil activity. The cost is lower than for an active company (from €100/year), but the obligation exists from the moment the company is registered.

Not from the annual profit. Dividends from the annual profit can only be distributed after the annual financial statements are approved by shareholders — confirming that the distributable profit exists and the company is solvent. However, Romanian law permits interim dividend distributions during the year if the company prepares a dedicated quarterly financial statement. Romania For Business SRL coordinates both annual and interim dividend distributions.

The CIT declaration (Declaration 101 — D101) is the annual corporate income tax return filed by companies on the standard 16% CIT regime. It reconciles the taxable profit for the full year with quarterly CIT prepayments already made — if the annual CIT exceeds prepayments, the balance is due by 25 March; if prepayments exceed the annual CIT, a refund can be requested. Companies on the microenterprise regime (1%/3%) do not file D101 — their tax is discharged through quarterly D100 filings.

For a company with complete and accurate accounting records, preparation of the annual bilanț typically takes 5–10 working days from the point when all year-end data is available and reconciled. For companies with incomplete records, gaps in bookkeeping or transactions that were not recorded during the year, additional time is required to reconstruct the records before the bilanț can be prepared. Romania For Business SRL recommends completing the year-end process by April to allow time to correct any issues before the 30 June deadline.

Your accountant needs: the full year’s accounting records (maintained throughout the year as part of monthly bookkeeping); year-end bank statements for all company bank accounts; a list of outstanding debtors (customers who owe money) and creditors (suppliers to whom money is owed) at 31 December; any year-end adjustments (depreciation, provisions, accruals); and confirmation of the share capital amount. If the accountant has managed the monthly accounting throughout the year, most of this information is already on file.

Yes. Romania For Business SRL coordinates retroactive bilanț preparation for companies with unfiled prior years. The process involves reconstructing the accounting records for the missing years, preparing the financial statements in the correct sequence (each year builds on the prior year’s closing position) and filing them with ANAF. This service is priced individually after an assessment of the company’s records and the number of outstanding years.