Businesses were fined €10 million for filing late returns with the Companies Office in the first six months of 2003 - nearly as much as for the whole of last year.
Such is its disquiet over the level of late returns, the office will next week take the unprecedented step of publicly urging firms to file on time.
"This is money we simply don't want. We want companies to file their returns on time and save themselves the money they pay in penalties," said Mr Paul Farrell, registrar, Companies Registration Office, in a statement.
Registration laws were traditionally treated with derision. Six years ago, only one company in 10 submitted returns. Today, the figure has risen to 70 per cent.
The Companies Office lays the blame at the door of directors, accusing them of wasting huge amounts of money by filing past due dates. Firms submitting late returns risk a €1,200 fine and could be prosecuted or even struck off the register. Directors may also be prosecuted - three convictions can lead to disqualification from acting as a director or holding a management role.
The message will be reiteration in an advertising campaign across radio, television and print over the next three months.
Companies incorporated after March 1st, 2002, are allocated an annual return date. Those established before that time must file within 14 days of their annual general meeting. There are 150,000 firms on the register, with around 15,000 added annually.
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